Adding another profitable business to the portfolio is always a great idea, especially when there is plenty of capital to invest. For someone who is already quite busy, a store would likely be a bad idea. There will be a lot of inventory to manage, as well as employees. If the store is short staffed, the owner may need to step in and take over. Therefore, lower maintenance business models are the better option.
Laundromats hardly have a need for employees. The building does not need supervision, and the customers do not require employee assistance. A single part time employee will need to do a quick sweep of the building, refill detergent vending machines, refill quarter dispensers, and remove change from the appliances. Other small chores, such as refilling kids’ vending machines, may be necessary as well. This could all be done by a personal assistant, who may attend to other businesses. Simply buy laundromat equipment Florida, find a great location that’s already prepared, and the job is done.
Horse Boarding Facilities
Horse boarding facilities are quite popular with suburban families. These families enjoy the conveniences of living within the city, but they don’t have the land to properly care for an equine. Therefore, they purchase a horse and place it in a boarding facility that offers a lovely stall and large, beautiful pastures for exercise and grazing. Many boarding facilities require that the owners come to feed their animals, clean stalls, and let their horse in and out of the stall during the day. Others have a stable boy who can do this work for the owner; and they charge the owners far more for boarding. With a good stable boy, the owner needs to do very little work for a recurring income.
Car washes are perfect for the warmer months. They generate a lot of traffic and can be very successful. Car washes can be automated or self-help; automated can be more expensive, but they are ideal during the winter months when people are not able to wash their cars in the cold. They require very little maintenance, unless something breaks down within the system.
Hands-off businesses are an excellent way to add to an income, without adding lots of work.