Buying a smaller business to run mainly absentee?
I have been mainly looking for a larger business ($1-2MM EBITDA) to acquire and operate. But I recently came across a much smaller business that I think could be a little gem. However, it's too small for me to be the main operator, and I would need a qualified GM to handle all day-to-day (while I owned strategic decisions). Anyone have any experience with this type of acquisition, including the questions to ask, keys to success, and key red flags to look out for?