u/cleverus96

I have been in the tech industry for 6 years now. I have been interested in buying a small business and hiring a manager, more like an absentee owner company. I have looked into:

1. Vending machines - Need to buy a lot to make profit, quite a bit of effort on loading, unloading, etc.
2. Laundromats - Leaning towards this as rate of success is greater than 90% and investment is not as car washes which have even higher success rates. Plus I plan to buy from those who are retiring so that I can scale the laundromat, probably through inculcating Artificial intelligence/Tech since it's my background.

Has anyone been in this similar path or did you end up buying something else which worked out for you? How did you go about it and how do I find mentors? Trying to find a community too.
Any other opinions/suggestions are welcome.

I have been a software developer for 6 years now. I have been interested in buying a small business and hiring a manager, more like an absentee owner company. I have looked into:

1. Vending machines - Need to buy a lot to make profit, quite a bit of effort on loading, unloading, etc.
2. Laundromats - Leaning towards this as rate of success is greater than 90% and investment is not as car washes which have even higher success rates. Plus I plan to buy from those who are retiring so that I can scale the laundromat, probably through inculcating Artificial intelligence/Tech since it's my background.

Has anyone been in this similar path or did you end up buying something else which worked out for you? How did you go about it and how do I find mentors? Trying to find a community too.
Any other opinions/suggestions are welcome.

Edit: The reason I need to be an absentee is not by choice but because of my visa circumstances. I can only be a passive owner. I would love to be involved completely and scale. But all I can do for the time being is learn about businesses and understand which is the right fit.

I am planning to look into Small business acquisitions and I found out that I need to get 3 people on my team - An attorney, CPA and Financial consultant. How much should I expect the fee to be?

Is it usually fee per consultation or fee per analysis of a set number of businesses if I want to look at multiple businesses?

Anyone with experience can guide me, would be a big help!