Can I buy a business that has a manager in place?

Users who viewed this discussion (Total:5)


Joined
Aug 13, 2017
Messages
10
Likes
2
Points
3
I already work full-time flipping houses so I don't have time to manage another business. But if I would ever want to buy an existing business and have a manager that runs everything, is that possible? Where should I look? I have talked to a business broker and he tells me that I should not expect to be able to do that.

But some people do it because there are very large companies that own many many businesses and the executives obviously can't be everywhere at once.
 

djbaxter

Administrator
Joined
Nov 10, 2016
Messages
1,743
Likes
847
Points
113
I don't see why not. You would still need to put in time monitoring the books to ensure you don't get cheated, of course, or have someone else (not the manager) do that for you.

People who own rental properties do this all the time...
 
Joined
Aug 13, 2017
Messages
10
Likes
2
Points
3
I don't see why not. You would still need to put in time monitoring the books to ensure you don't get cheated, of course, or have someone else (not the manager) do that for you.

People who own rental properties do this all the time...
But where do I find them? Even when I look to business brokers, I have been told that I would have to actively operate anything I bought.
 

djbaxter

Administrator
Joined
Nov 10, 2016
Messages
1,743
Likes
847
Points
113
Well they're right in a sense. That doesn't mean you can't hire someone yo manage the day-to-day details, or but a business that already has someone who does or can do that.

Where to find them is another question. Seems to me your first step is to narrow down your search to the type of business you want (and you should know something about that type of business beforehand).
 
Joined
Aug 13, 2017
Messages
10
Likes
2
Points
3
Well they're right in a sense. That doesn't mean you can't hire someone yo manage the day-to-day details, or but a business that already has someone who does or can do that.

Where to find them is another question. Seems to me your first step is to narrow down your search to the type of business you want (and you should know something about that type of business beforehand).
Have you ever bought a business that had a manager do most of the work?
 

VirtualGlobalPhone

Moderator
Top Poster Of Month
Joined
Apr 22, 2016
Messages
810
Likes
310
Points
63
farmerjohn1324 ; business is not bucket of tips and tricks. Its hard work and unique for every individual who come in contact with. The thing that works for some will not work for others.

So then you may ask how do i go about exploring this opportunity ? Well its simple as djbaxter replied initially "Why not" jump and sail through if the loss is not much of a big burden.

Best wishes...
 

djbaxter

Administrator
Joined
Nov 10, 2016
Messages
1,743
Likes
847
Points
113
Have you ever bought a business that had a manager do most of the work?
No but that's for two reasons:

1. I have never bought a business. I have started two businesses from scratch but I have never bought one.

2. I would not personally want to own a business where someone else managed everything. Just not my style. I prefer to do things myself as much as possible to make sure they're done "right" (using my definition of "right").
 
Joined
Aug 13, 2017
Messages
10
Likes
2
Points
3
farmerjohn1324 ; business is not bucket of tips and tricks. Its hard work and unique for every individual who come in contact with. The thing that works for some will not work for others.

So then you may ask how do i go about exploring this opportunity ? Well its simple as djbaxter replied initially "Why not" jump and sail through if the loss is not much of a big burden.

Best wishes...
I already have a business as my full-time job. I don't have time to run a 2nd.

I bet you will never see Warren Buffett serving food at Dairy Queen. Get my point?
 
Joined
Aug 13, 2017
Messages
10
Likes
2
Points
3
I would not personally want to own a business where someone else managed everything.
And doesn't that greatly limit the scope of how large a business you are capable of owning? You are only 1 person with only so much time and energy to go around.
 

djbaxter

Administrator
Joined
Nov 10, 2016
Messages
1,743
Likes
847
Points
113
Getting back to you though, farmerjohn1324 ...

What about the possibility of investing in another business as a partner? perhaps even a silent partner?
 

VirtualGlobalPhone

Moderator
Top Poster Of Month
Joined
Apr 22, 2016
Messages
810
Likes
310
Points
63
I already have a business as my full-time job. I don't have time to run a 2nd.
Mate its simple, if you have leading or being the leader in "knowledge and experience" of that second business you are planning. Then yes!! simply put a process and system - allow a fresh graduate with zeal to run. Be a mentor !!!

Does this make sense ?
 
Top