OPERATING HVAC WITH A 3+ HOUR DRIVE TO WORK?
Searchfunder brain trust! Has anyone made their first acquisition in a company that's a lengthy drive from where they live?
In my quest to buy an HVAC or plumbing company in South Florida, I stumbled across one small ($300k-$500k cash flow) air conditioning company that's a 3 hour drive from where I live. Current owners live out of state. This would be my first acquisition in the industry.
Typically, I'd ignore anything far away. However, this business is within driving distance, so it's not like I need to take a 2+ hour flight to visit the business. And it's already run remotely. The way I could see this working is I'd go for at least two days each week and run it remotely the rest of the week. But, while I'm OK with trading off some growth & efficiency by being relatively far away, I want to make sure I'm not risking the whole company imploding!
Would love to hear thoughts and personal experiences!