Are you looking to start a business without being the day-to-day manager? Businesses that don’t require your direct involvement, or what is known as an owner-absentee business, maybe just right for you. Not only can they provide a steady stream of income, but they also offer the opportunity for autonomous and creative growth if desired. Here we’ll explore five interesting owner-absentee businesses and understand some of the key benefits associated with them.
What Is An Owner-Absentee Business?
Remotely managing a business doesn’t have to be an arduous task – allowing you the freedom of not having to be physically present every day. Owner-absentee businesses are designed with just this in mind, ensuring seamless operations even if the owner is away from their workplace. Whether it’s managed by hired employees or overseen remotely, these types of businesses can help entrepreneurs stay nimble and agile despite being out of sight.
For entrepreneurs looking to generate a lucrative passive income and possess more leisure time, owning an owner-absentee business is often ideal. This can encompass rental homes, franchise opportunities, vending machine companies, and even online stores – endless possibilities! Still, it’s critical to keep in mind that some level of supervision may be required for ultimate success when partaking in this venture.
5 Interesting Owner-Absentee Businesses:
If you have the right skills, interests, and capital resources to invest in a business that can thrive without your constant presence – an owner-absentee business – there are many fascinating options available. Consider these examples of the best owner-absentee businesses:
- Rental Properties – Rental properties can provide a dependable source of passive income. Once you have everything set up and tenants occupying the property, all that’s left to do is appoint an experienced property manager who can handle the daily operations, such as collecting rent, reviewing applicants, and dealing with maintenance issues. It is among one of the best owner-absentee businesses.
- Vending Machines – Venturing into the vending machine industry can be a highly lucrative and low-cost business venture. By locating machines in high foot traffic areas, you can generate income at all times of day without lifting a finger! To make it even easier, simply hire somebody with experience in refilling and keeping up your machines – leaving you free to focus on other important aspects of your business.
- Online Stores – The potential for financial success is high when one embarks on the journey of starting an online store. Not only does e-commerce continue to grow, but many third-party service providers can assist with website design, product sourcing, and fulfillment, saving you time and energy in managing your business. These features make this business one of the best owner-absentee businesses.
- Franchises – If you’re looking for a successful business model where you don’t need to be in the office every day, then owning a franchise might be just what you need. What’s more, as part of your package, franchisors provide training and support that allows their franchisees to operate remotely – giving them freedom from traditional managerial demands.
- Peer-to-Peer Lending -Through peer-to-peer lending platforms, investors can securely lend money to borrowers and gain interest. These platforms are designed with loan servicing and collections in mind, so it’s still a feasible investment opportunity even if you’re not always available.
Here are a few examples of fascinating owner-absentee businesses. But remember – it’s imperative to research and choose a business that meets your ambitions, fascinates you, and fits within your budget.