Running a business can be a challenging task if you are a busy person with many other commitments. In such cases, you can own an absentee business rather than run it yourself. Here are the best absentee businesses you can start right away:
- Hostel for Students
- Private Ambulance Service
- Car Hire Service
- Concierge Service
- Paint and Sip Studio
- Yoga and Pilates Studio
- Tent Rental Business
- Banquet Hall Rental Business
- Photocopy Shop
- Dairy Farm
In this guide, I’ll walk you through the things you need to learn about being an absentee business owner.
What is an Absentee Business?
An Absentee Business is a business that is operated by an individual who is not physically present in the business location. Being an absentee business owner means that you own a business but do not personally actively engage in its day-to-day operations. Instead, you can hire employees and form a team of people to work for you.
As a result, you can profit from your business without actually working.
Being an absentee business owner can be a great way to run a business from anywhere in the world!
Using a virtual office or remote work arrangement, you can still manage your business, make decisions, and interact with clients from the comfort of your home or office.
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Benefits of Owning an Absentee Business
There are many benefits to operating an Absentee Business, including
#1 Increased Freedom
You can work when and where you want, without having to worry about time constraints or other obligations. This can be a huge advantage if you’re working from a distance that would otherwise be difficult or impossible to commute to.
If you hate a 9 to 5 schedule like me, an absentee business would be perfect for you.
#2 Increased Productivity
You’ll be able to get more done since you won’t be bogged down by routine tasks or administrative tasks.
Instead, you’ll focus on more creative endeavors that will help your business grow.
Another great benefit of running an absentee business is that it can be very profitable. Since you’re not physically present in the business, you can take advantage of high-demand periods and be flexible with your hours.
#4 Set Your Own Hours
You have total control over when you work and how long you stay at your desk. This can be a great way to make more time for family, friends, hobbies, or other interests.
How to Buy a Running Absentee Business?
Here are a few places to start your search for an absentee business:
A business broker can help you find the perfect running absentee business that meets your specific needs. They will take care of all the paperwork and negotiations, so you can just focus on owning your business.
Auctions are a great way to find a running absentee business that is in need of a new owner. You can browse through different auction sites on the internet and find businesses that fit your criteria.
Here are some sites where absentee businesses are listed for sale:
Build Your Own
If you don’t want to use a business broker or an auction site, you can also try building your own running absentee business. This can be a great way to customize the company for your specific needs and desires.
Let’s have a look at how you can select a profitable absentee business:
How to Select an Absentee Business?
When you are looking to start an absentee business, there are a few things that you need to keep in mind.
Simple Business Operations
An absentee business should not have complicated business operations. This means that you will need to keep track of your finances, sales, and profits on your own.
An absentee business should be flexible with its hours so that you can work as much or as little as you want. You don’t have to spend all day at work if it’s not convenient for you.
Easy Employee Management
An absentee business should have easy employee management so that you can keep track of your employees and their hours. You don’t want to deal with the hassle of hiring and firing employees on your own — every day.
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Top 10 Absentee Business Ideas
I know you’re fed up with mainstream business ideas such as real estate, gas stations, etc. Therefore, I’ve compiled a list of unique yet profitable businesses without you being actively running them.
#1 Hostel for Students
Monthly Earning Potential: $22,000 (30 Booked Nights Per Day)
It is now common for students to travel to different countries for better education. Opening a student hostel in a city with many out-of-towner students can be highly lucrative for you. And, of course, the plus point is that you don’t even have to be present to run the business.
When you own a student hostel, you must hire an experienced management team that can sort through the various requests of different people and provide them with the best possible experience.
Excellent management and lodging facilities will entice people to choose your hostel, so make that a priority. Maintain low fees while providing a clean environment and nutritious food.
You can use an electronic fee payment system because it is an absentee business. You will receive all payments this way, and because the software will handle the transactions, there will be no accounting issues.
#2 Private Ambulance Service
Monthly Earning Potential: $16,500 (With 4 Ambulances)
Until recently, it was the hospital’s responsibility to provide ambulance services; however, private ambulance services are now dealing. You, too, can be a part of it. Establish an absentee ambulance service and hire drivers to operate the vehicles.
When running an ambulance service, you can offer either emergency or non-emergency services. Or, if you think you can offer both, that’s amazing!
When you own an emergency ambulance, you have all the equipment you need to treat a patient right away in the ambulance. And a non-emergency ambulance means you’ll only be responsible for getting the patient to the hospital.
You can start this absentee business by purchasing ambulances and hiring drivers to operate them. However, you must obtain permission from the health department to set up everything and delegate the rest of the work to the employees.
Because it is a health-related business, it will be demanding, so you should be able to invest a significant sum of money and profit from it.
You can even form alliances with a few hospitals. You will also be contributing to humanity’s salvation while earning money.
#3 Car Hire Service
Monthly Earning Potential: $700 (Per Car)
One of the best absentee businesses you can own is providing the best modes of transportation for people on a tight budget.
Acquire a fleet of reliable cars and hire drivers, and you will be ready to earn money while not working.
Car hire services are for people who need a car for a short period of time; this could include people who do not own a car, tourists, people who need to get to the airport, and others.
You will need to automate all aspects of your car hire business, including bookings, recurring expense reports, car managerial staff, car tracking, accounting, etc.
It is also a good idea to start this absentee business because most people prefer renting a car rather than buying it. People who use rental cars are not responsible for the car’s damage or repairs and are much less expensive than owning a car.
As a result, if you set it up responsibly and have an online presence, it is a business that will run smoothly and profitably, and you will be able to profit from it even if you are busy with other things.
#4 Concierge Service
Monthly Earning Potential: $2,500 (Per Labor)
Serving people with their specific needs is an absentee business that you can start knowing you will profit from because people frequently require assistance for one reason or another.
Your concierge company should possess all of the qualities needed to satisfy customers and hire some trustworthy employees.
When you own a concierge service, your employees will assist people with their errands.
To grow your business, offer a few services such as grocery shopping, travel and restaurant reservations, home management services, event suggestions, transportation arrangements, and more.
Hire trained employees who can keep a level head while providing customer satisfaction. They should also be able to think creatively in order to solve the client’s problem.
Lastly, appoint a management team to keep track of all business details and report them to you, so you can earn while your employees work.
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#5 Paint and Sip Studio
Monthly Earning Potential: $8,500
Owning a paint and sip studio for people who enjoy socializing and are creative is a great move! You could provide painting lessons alongside other beverages.
The best part is that you can relax while the professionals onboard handle everything.
Owning a paint and sip studio is unquestionably unique, and because its popularity is growing, it will undoubtedly pay off handsomely.
A paint and sip studio provides a low-pressure work environment that can also serve as therapy for some people and a pleasant atmosphere that will lift people’s spirits and encourage them to join your studio.
Ensure all the necessary supplies and equipment are available for the painting lessons. It will be incredible to invest in high-quality materials to provide an exceptional experience for your customers.
Also, hire professional artists. Hiring a student is another win-win strategy for bringing on a talented professional while spending less on compensation.
And, of course, good management is mandated because you will not be present to keep track of business matters.
#6 Yoga and Pilates Studio
Monthly Earning Potential: $14,000
Yoga and Pilates are two noticeably different forms of exercise. A studio that cumulatively offers both would be a crowd-pleaser and the perfect idea for an absentee owner business!
Health and fitness are increasingly popular these days, and a yoga studio can help people achieve all their fitness goals!
Initially, determining the financial model or things like choosing the prime location or hiring a competent team could be things that would concern you.
However, in the long run, your team can manage your studio for you and keep the profits rising too.
A few well-experienced instructors, a good marketing team to target the right audience via social media, and someone to help manage the studio would do the job!
#7 Tent Rental Business
Monthly Earning Potential: $3,000 (Renting Out 10 Tents Per Day)
Families often host large gatherings or events that necessitate rental tents. Owning a tent rental service business is a lucrative idea that does not demand your presence; you need a stable team to manage the organization for you.
Tent rental is a thriving industry because people enjoy planning outdoor events. After all, it provides an exquisite aura for their guests.
Weddings, gatherings, family reunions, and other outdoor events may require your services.
To keep your business running smoothly- you’ll need high-quality equipment, excellent customer service, and on-time delivery.
Put together a formidable team to work for you.
The tents you own should be of a high-strength material that will not disengage, universal to work with anything you want, and the flooring should also be structurally sound. These are a few things your team should be focusing on to scale up the business.
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#8 Banquet Hall Rental Business
Monthly Earning Potential: $20,000
Another example of an absentee owner business would be Banquet Hall Rental Business. These are halls that different people rent for various purposes like; weddings, award ceremonies, a high-scale lunch, or even for conducting a large workshop.
Its varied usage makes it an incredible business idea as it keeps you profiting for a long time!
However, it may not be ideal for an emerging entrepreneur with limited capital as the initial investment is very high, and you have to acquire a separate building altogether.
If you are an experienced investor with a decent cash flow, it would be a good option for you to earn passive income.
Ideally, you should target locations where you can rent your halls to high-profile clients and expand your business to provide catering and event planning services.
Lastly, hiring the perfect management can be essential to ensure your absentee business works perfectly!
#9 Photocopy Shop
Monthly Earning Potential: $9,000
Your photocopy shop would work as a multi-purpose center to facilitate people. From photocopying and printing docs to fax and lamination — it would be a one-spot destination for everyone.
After the initial investment, you can easily keep on earning for a long time without day-to-day handling.
All you need to do is establish your business in a suitable area, which could be somewhere near offices or universities, to ensure you get maximum business.
The next thing would be hiring a few diligent workers and increasing the time during which the photocopy shop would be open.
Workers could be part-time university students you can reward for bringing in more business and increasing sales!
In this way, you can own the photocopy shop and keep profiting from it while not being involved in the hassle of running it every business day!
#10 Dairy Farm
Monthly Earning Potential: $10,000
You must be familiar with the many advantages of owning a dairy farm and how fruitful it can be. Let me tell you that it can also be run as an absentee business if you didn’t already know.
However, you will need to invest a good amount in it first, but it is an all-year-round successful business that will run itself.
Owning a dairy farm entails profiting from milk and eggs and the beef, fur, and skin of the animals, which you can sell for a high price. You can also benefit from producing other dairy products such as cheese.
True, you’ll need a lot of money to start a dairy farm, but as the business grows, so will your income.
You will need to hire trained individuals to handle and manage the cows or chickens on your farm and a trustworthy individual to oversee the entire situation.
Whatever the situation, dairy products are necessary for everyone, so owning a dairy business can be a worthwhile and long-term investment.
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You don’t have to look any further or think any longer with these best and easiest absentee businesses. You can begin your absentee business right now, and you’ll thank us later!
The staggering part is that if you have a good amount of money, you can even own multiple businesses because, after all, you aren’t supposed to work and are only supposed to profit while you sit about, so why not?