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
- 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.