Depending on whether you're in a buyer's or a seller's market, you may put yourself at a negotiating disadvantage by doing this. Only make such an approach in a buyer's market. Probably the biggest hurdle you will face is getting finance for your small business acquisition. Sometimes a vendor will be willing to sell you the business on terms. The vendor will usually retain a lien over the assets of the business until the purchase price is paid in full.
Loans There are various sources of loans.
For small businesses, your best bet is probably not the major financial institutions. If you're short on security, consider the possibility of a creditworthy friend or relative acting as surety. Credit cards Credit card financing should generally be treated as a last resort but utilized judiciously, credit cards can be useful for cash flow purposes so long as the outstanding balance is paid off each month. Don't use them for asset purchases though. Family and Friends Not a good idea for everyone, but consider asking family and friends to invest in your business.