In my previous article, I shared my thoughts on why entrepreneurship through acquisition (ETA) may be a more lucrative, less risky route than building a startup.

We discussed the ample opportunities for buying a business as the baby boomer generation — which owns most of the businesses across the U.S. — is looking to retire and sell their companies to the next generation.

After deciding whether you'll back your efforts through a search fund or self-funding, it's time to consider what type of business you want to buy and how you can find and acquire it.

Related: Want to Start a Business? Consider Buying One Instead — Here's Why.

The most crucial step is determining what industry or market you are interested in or believe you can contribute substantial expertise to.

If you're using a search fund structure, your options may be limited by the parameters set by your investors, as they will have thoughts on the best targets, especially in areas in which they're most comfortable.

If you're self-funded, the sky's the limit: You can look within your comfort zone or take a risk on a company that will stretch you and challenge you but could have greater financial returns.

You might be surprised to hear that finding these new business opportunities can be challenging unless you know where to look.

Here are a handful........

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