When buying a business it is important to understand that some businesses for sale require the owner to be involved in the day to day operations while others can be run on what is called an “absentee” basis. In this video owner and CEO of Vested Business Brokers, Nathan Goldstein, explains the benefits of buying and owning and absentee run business…
Absentee owned businesses are great for a professional who wants to earn additional income by acquiring a business that will produce profit every single day while currently working their regular job, or traveling, etc.
Almost any business can be run absentee, however, you will find that most often absentee businesses for sale will be businesses like:
- car washes,
At Vested we happen to have an internet company that is a database management businesses. The person who owns it nets approximately $800,000 a year and it runs completely absentee. In fact, his only real activity connected to this business is transferring the money he earns through it from one account to another.
Now most absentee run businesses for sale are not as easy as that. In truth, with most of these types of business you wouldn’t physically have to be there, but you would be responsible for certain things that would require “work”. For example, some people who own absentee based businesses will do the following:
- the accounting,
- the bookkeeping,
- the ordering for the business,
- managing the schedule for the business,
Other than those types of responsibilities, they are able to have the rest of their business run “absentee”.
If you want to learn more about absentee run businesses, don’t hesitate to call your Vested Broker. They’re there to help you. you can reach us at (877) 735-5224.
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