I am looking at home services companies in a state where I do not live. I do not plan to move my family. Instead, I have very capable general manager [think partnered search] who will be onsite and will run the day to day operations. I will work on back office, digitization and other sales growth efforts. He will receive equity at close and more will vest over time with performance. I plan to spend a lot of time onsite for the first 6-12 months, and shift more remote as progress allows. I'm curious how SBA lenders and investors might react to such a plan. Is this a big issue or a small one in your eyes? What questions or concerns should I expect?
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Beyond lending, there may also be considerations for tax and more that you should discuss specifically with your CPA / tax planner / advisor for both your business and for your income.