Tips/advice for buying an established business?

I'm an engineer currently but the rest of my family owns various businesses in retail and other industries. They do great. So they want me to follow suit but I don't exactly want to do that same route but am open to buying an established business in another industry. But I just want to ask what industries do well and which don't? Also, are there any things I should look out for when evaluating an established business? People fudging their books to lie about how much they make or something?

How do the following businesses rank?

  • Car washes
  • Dry cleaners
  • Laundromats
  • Tanning salons

I know I sound like a complete noob but I don't know what the right questions to ask are. Probably should mention my family will be advising me along the way but I just wanted to ask you guys and get some preliminary unbiased advice. Thanks in advance.


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