The Best Absentee Owner Businesses for 2022

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This week, Yaro wants to know what kind of business he should buy if he DOES NOT want to work there?
Is there an ideal business for absentee ownership?
I discuss the skills needed, the types of businesses to look for and a trap that I’ve seen some fall into.
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[@peteceja4015]

The Title says “ best businesses to buy “ . Did I miss something? What were those businesses? Maybe change the title

[@geraldrussell9154]

How to prevent theft in a business like these

[@SterlingSellsHomes]

You give so much free value on your channel it’s unbelievable

[@DavidCBarnett]

Welcome to the high-quality part of KZbin.

[@JoshTheScribePersonal]

Been really enjoying your content lately man! Feel like your channel isn’t getting enough love. Keep up the awesome work!

[@DavidCBarnett]

I get low traffic because it's a secret channel and intended only for seriously important and smart people. ;)

[@1realtruthrightnow742]

Agreed. He's like on whole different level lately

[@carlloubao7499]

David Thank you for this video again. Can you make a video about some best way to find qualifies buyers as a business broker?

[@DavidCBarnett]

Yes. Erica, add this to the list!

[@markx1232]

I look forward to this video

[@Mav0585]

I guess “semi-absentee” businesses are not as difficult to find a GM for example, if you still have some part in the business.

[@DavidCBarnett]

If you make an investment in a small biz, you should be ready to work on it.

[@Mav0585]

@@DavidCBarnett that doesn’t sound ideal - so nobody buys business’s that doesn’t work in them directly?

[@ryankeenan351]

Great video ! What do you think about liquor stores or shipping stores such as the ups store as far as being absentee or semi absentee?

[@DavidCBarnett]

There is a reason some chains grow via franchising. They know management of a store is better with an owner around. In this example, I think the liquor store would be easier than the shipping store.

[@dric30]

Great content Dave! Are you familiar with distribution businesses and manufacturer to exclusive distributor to distributor relationships?

[@DavidCBarnett]

I've worked with businesses in these kinds of arrangements before, yes.

[@jcai]

Great video David! I would like to know your opinion on this: If someone had the money to buy a Small Business (30k-50k), and an academic background in Business/Economics/Finance, would it be better to: a) Gain experience working for another company, working your way up to a management position (which might take 10 years). Then buying a bigger business (because of accumulated savings in those 10 years). b) Buy a small business from the beginning and gain experience running it directly, instead of investing those ten years in the Alternative "a". This is assuming in both cases that this person has taken your courses and is part of the Business buyer adventure community.

[@lewisburton1852]

How about c) start a business from scratch bootstrap it.

[@DavidCBarnett]

Most of my clients would answer this question after asking whether they could tolerate being an employee for 10 more years. The motivation to do this if often not financial.

[@DavidCBarnett]

Maybe, depends on your obligations. People often choose to buy a business because they need an income and often after they've discarded starting as too risky. Some people manage this by starting a sidehustle that they can grow once it's proven itself. (that's literally how I got into my consulting biz.)

[@JamesAutoDude]

​@@lewisburton1852 really difficult to get clients when you're new

[@dominicrealestate466]

Thanks Dave!

[@DavidCBarnett]

Thanks for watching.

[@cdgates1]

What kind of owner would u consider Shaquille O'Neal? He owns a Krispy Kreme donuts and Papa's John Pizza. Is that a absentee business owner? He doesn't work there but he is able to keep his job on tv.

[@DavidCBarnett]

Sure, he's got a big enough organization that he can afford good quality management. You don't really know what's going on there, however, unless you've seen his financial statements.

[@SauceGodBruhhh]

Someone like shaq has a shell company that runs and manages his investments. He over sees them.

[@neerajchaudhary1821]

Thanks for a great video David! It seems there might be a middle ground between highly systemized businesses (like fast food), and a business that requires 25 years to master (like a transmission shop). The businesses I'm thinking of are a smog shop, last mile delivery, etc. What is your opinion of these types of businesses?

[@DavidCBarnett]

If it can be done by a big company, you can likely figure out how to run it absentee. Just have a 'Plan B' for when things go wrong.

[@markgalperin6160]

Dave, thank you for another great video! I'd add a fourth, pretty common, category in which the advertised claims of "absentee ownership" are just a straight up lie :)

[@DavidCBarnett]

Ha ha. True. Try not to do business with liars. LOL

[@flip_jerz1069]

i like this guy name , sounds like a big firm or something 😂- my name sounds like a electronic store😂

[@DavidCBarnett]

Thanks

[@TheJet1]

We need your consulting services in the great white north YELLOWKNIFE, let’s get you up here in summer ‘24. You can stay with us, get in some client meetings and try your sea legs for world class trout fishing. I’m signing up for your Business Buyer Advantage course!

[@DavidCBarnett]

Yes, NWT is on my list! I want to see if the view is better from the top of the world.

[@aaronmatos5581]

What do you think of the website BizBuySell and the way they sell through a broker?

[@DavidCBarnett]

BizBuySell is a marketplace. There are broker and non-broker listings there. Anyone can pay to advertise a business for sale on sites like that.