Recently I met with a friend of mine who has been looking at selling his pizza business. He took it over right before the pandemic from the previous owner who had run it for 13 years.
He was able to turn around and get it running right and has made enough money to basically pay off what he owed on it in a year (during the pandemic) and currently brings in about $1mil a year. He is thinking about selling out because he is more of the Jon Taffer personality. He went in fixed up the business got it running like it was supposed to, and now he's kind of bored with the whole project and is looking for something new.
I have been looking to add another stream to my income, but the downside is that it's 2 hours away. Does anyone have any experience running a brick-and-mortar business remotely? He's still looking at about a 2 year timeframe before he gets out, so there may be a way to work out systems and processes, but I don't know if it would be worth trying to attach my name to it with the distance hurdle.
Thoughts?
He was able to turn around and get it running right and has made enough money to basically pay off what he owed on it in a year (during the pandemic) and currently brings in about $1mil a year. He is thinking about selling out because he is more of the Jon Taffer personality. He went in fixed up the business got it running like it was supposed to, and now he's kind of bored with the whole project and is looking for something new.
I have been looking to add another stream to my income, but the downside is that it's 2 hours away. Does anyone have any experience running a brick-and-mortar business remotely? He's still looking at about a 2 year timeframe before he gets out, so there may be a way to work out systems and processes, but I don't know if it would be worth trying to attach my name to it with the distance hurdle.
Thoughts?
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