Buying a business 3 hours away

searcher profile

January 22, 2025

by a searcher from Boston University in Albuquerque, NM, 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

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commentor profile
Reply by a searcher
from Georgia Institute of Technology in Charleston, SC, USA
I have looked at a few deals like this. My key questions:
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.
commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
I can certainly speak to this from a lending perspective and how lenders will react. Generally speaking lenders want the borrower onsite everyday if the business has a physical presence. But you can position yourself to still make it work with financing. If you would like to discuss you can reach me here or directly at redacted
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