Buying a business 3 hours away

January 22, 2025
by a searcher from Boston University in Salt Lake City, UT, USA
Hello! Does anyone out there operate a physical business (non online) where they are not onsite every week? I'd love to talk to any holdco owners or operators with businesses that are located a couple hours from them. For context, I am looking at a business that is 2.5 hours driving from me where it is fairly rural and my wife and I would prefer not to live there full time. Any experiences, tips/tricks, horror stories would be welcome
from Georgia Institute of Technology in Charleston, SC, USA
Are the sellers absentee or semi-absentee? How many hours typically?
Is there a strong management layer (more than one person) staying after the sale?
Is there an great opportunity for geographic expansion or merger closer to home?
Am I willing to temporarily relocate for the transition?
If the answer to all of these is definitely yes, then I would proceed. If any answer is maybe or no, then I would pass.
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA