An absentee business is referred to as a type of business where the owner does not personally manage the business but owns it. An absentee business is perfect for people who don’t have the time to actively run the business. Some popular absentee business ideas are transitional housing business, warehouse facility leasing business, stone quarry business, Security Guard Company, private hostel, bus rental business, and many more.
Key Takeaways
- Absentee business offers another source of income for professionals by acquiring a business along with a current job
- An Absentee Business doesn’t have any geographic limitations
- An Absentee Business doesn’t offer the scope of day-to-day oversight therefore, you have to largely depends on the employers
- Wi-Fi Hotspot Services Company and Warehouse Facility Leasing are the two most popular absentee business ideas in 2022
The Pros Of Absentee Business
Absentee business is great for professionals as it gives them the opportunity to earn additional income by acquiring a business along with a currently working regular job. It gives working people a flexible lifestyle of passive income. Another advantage of the absentee business is no geographic limitations. As an absentee owner, you can take advantage of hot marketing trends throughout the country as well as the world. So being open to the whole world you will be able to take full advantage of trends in your industry.
The Cons Of Absentee Business
One of the biggest challenges in absentee business is hiring trustworthy employees. As an absentee business owner, you have to put your trust in the employees that they will work tirelessly to meet the financial goals of your company. In this business, you don’t have the scope of day-to-day oversight. Therefore, absentee business owners are more vulnerable to theft by employees. Another problem with this business is maintaining day-to-day communication. Therefore, an absentee business isn’t right for all types of business.
List Of Best Absentee Businesses Of 2022
1. Warehouse Facility Leasing Business
2. Wi-Fi Hotspot Services Company
3. Uber Driver Business
4. Print on Demand Business
5. Bakery Business
6. Transitional Housing Business
7. Television Station
8. Student Hostel
9. Fitness Boutique
10. Serviced Office Leasing (SOL) Business
11. Security Guard Company
12. Academic Consulting Services
1. Warehouse Facility Leasing Business
This is a very popular and easy-to-start absentee business idea. To start this type of business you will require mini storage spaces for people to store their belongings for a short period of time. The storage space could be lockers, rooms, boxes, containers, or even an empty space in a secured environment. However, you have to remember that this type of space is not for people to rent and live in it. This space is strictly for storing personal belongings and goods.
2. Wi-Fi Hotspot Services Company
This is another profitable business idea for absentee business owners because nowadays we are largely dependent on technology and without the internet, we can’t access the technology. Another advantage of this business idea is you can start this business from almost anywhere including your home. If you have a limited budget then home is the best place to start it. Moreover, the price of the equipment is not that much so it’s an ideal business idea for people who are looking for a passive income apart from their job.
3. Uber Driver Business
The introduction of Uber and other e-hailing taxi services opens an opportunity for the absentee business owner and it is a great business idea because it can run from any location in the world. It is an independent business where you have to manage drivers and a fleet of cars under Uber. You can recruit drivers for Uber and make available cars for them or you can work as a middleman between Uber and potential drivers.
4. Print on Demand Business
3D printing and print on demand are considered as the future of the printing industry and it has a value of $49.74 billion and it is expected to go rapidly by 25% from 2018-to 2025. This industry will grow rapidly thanks to technological advancements, decreased costs, and innovative applications. You can actually start this type of business without being actively present in the business location. Moreover, the advancement of digital media has provided an opportunity for print-on-demand businesses to explore and experience vibrant growth.
5. Bakery Business
This is an excellent absentee business idea to start in 2021. The reason is; in the USA this industry is valued at $423 billion so it indicates the demand for this business. Moreover, it is expected to grow at a rate of 1.5% from 2020-to 2023. You can operate this business from any location and it won’t require a huge investment. It’s always challenging to start a new business but the bakery business comes with less stress.
6. Transitional Housing Business
Transitional housing is referred to as a temporary housing solution for the homeless population that includes working homeless people who have little money to afford long-term housing. This is an excellent absentee business idea because you can operate it from anywhere and doesn’t require a huge investment. This type of business includes a room or apartment in a residence with support services.
7. Television Station
This is another great absentee business idea that you can start without your active presence. Television stations create different programs and deliver audiovisual content to the public via over-the-air transmission. The television industry is in the mature phase of its life cycle and advanced technology makes it an excellent business opportunity.
8. Student Hostel
The real estate industry has loads of business opportunities and student hotel is one of them. This is a very profitable business if you can manage to have your hostels near the campus. You don’t have to be actively present in the location to run the business. You can hire a reliable and competent caretaker to manage the hostel for you.
9. Fitness Boutique
The USA is the World’s largest health and wellness market the world and it is valued at $39 billion and it is increasing at a rate of 4.5%. Fitness Boutique encompasses 40% of the health and wellness market so it is quite evident that Fitness Boutique is a great absentee business plan. The best part of this business is you don’t have to be present to make this business successful. You can hire a manager and a professional trainer to run this business.
10. Serviced Office Leasing (SOL) Business
The main business objective of Serviced Office Leasing (SOL) is to primarily rent or lease fully furnished office space to businesses. The rent or lease may be on a part-time or as-needed basis to businesses. You can offer this type of service to start-ups to small businesses to Fortune 500 companies. You can also offer virtual office and conference room leasing options to clients. In this business, the regular presence of the business owner is not required.
11. Security Guard Company
Generally, a security guard company provides both armed and unarmed security-related services. The demand for security service is very high and you will provide service with agreed fees. Sometimes you may have to provide advanced special operation services for special clients when they demand it. In this type of business, you have to recruit security men, train dogs, and provide vehicles where required.
12. Academic Consulting Services
The demand for academic consulting services is very high and it is expected to grow at least 7% between 2018 and 2022. This clearly indicates how profitable the academic consulting service is and parents are also eager to spend dollars on this service. You can easily start this business and it is not mandatory for you to present to the business location every day. You can recruit an academically inclined personal and reliable manager to run this business.
References:
1. https://www.starterstory.com/absentee-business-ideas
2. https://www.profitableventure.com/absentee-owner-business-ideas/
Last Updated on October 18, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.
