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Can any body help me how to buy a business? please break it by step to step?

I am planning to open a business, and this is gonna be my first time to buy business in U.S. However, there are somethings that i have to understand. But I don't know much about those steps. I am interesting in buying a convenience store franchises. So anybody want to share or give me some important experience. Thank you in advance

Public Comments

1. What are your goals? What is your intended outcome? My first thought is why would you invest and pay lots of money when you can have a reliably increasing income without investment risk? If you can make an hour, email me to confirm a time to talk, and I'll explain. kthoden@yahoo.com
2. Do or insist on seeing (from the people selling) an up to date business plan...you want a 5 year projection. Then get someone with experience/expertise to check it with you (or more than one person if possible). Be determined to find the flaws in the idea: is the location right? what are the threats, weaknesses SWOT analysis etc etc (get a book on business planning and work thru it, if that is all new to u but dont be intimidated its not so hard there is just lots to do). (I once looked into buying a small manufacturing co that was making agricultural equipment.....i did research and found out they were losing ground to a German competitor that had just started selling in the UK...abandon ship!!!) Hope that helps.
3. HI Rocky , I agree with others on real brick and mortar business ! MY close Freinds Own their own businesses and I remember when they started the cost were staggering ! realize this YOUR 1st year will be concetrated on ADVERTISING ! YOU will need funds to keep stock and advertise! YOU need Traffic to your door ! YOUR Customers are to be treated with kindess and appreciation they are YOUR income ! Smile always no matter How you feel ! Be come friends with them always let them know of specials you have coming up or current deals ! YOUR Timing however is bad right NOW the US Economy is bad ! Even affecting online businesses the cost of shipping goods has increased everything %40% ! A trucker on long Runs will spend $4000 - $6000 for Fuel ! I had My own business way back in 80's 16 hours per day 6 days a week ! 2nd year was when i started turning a nice profit ! I was in the food businees a delicatessen breakfast lunch and dinner ! SO i made money $40,000 per year NET! had 4 employees and after 3 years was burnt out ! The long hours killed ME i had NO time to myself anymore ! SO I sold the business for $250,000 in 1985 sept 22 ; turn Key operation ! invested that money into mutual funds and now just living life ! Good Luck and remember Advertise all the time ! STOP Advertisng When YOUR Ready to close YOUr Doors !