0

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do not want to leave my job, only to buy the company and maybe achieve some extra money with the profit of the entrepreneurship. Obviously, nonetheless, I cannot work as a employee and a boss at the same time. Someone gave me the idea to hire a good business administrator and put him or her over the responsability of the restaurant. This way I could continue with my job and indirectly manage the company. Anyway, in despite of all my research, I was not able to find specific information about this kind of case, only general ones. In many examples I found that the owner of the company, even with the administrator, continues working as a "leader", not the administrator; this cannot be my case, because it would generate too much responsability for me. Simply put, what I want to know is whether it is possible to hire some kind of administrator that would take FULL responsability over the restaurant (someone who would take the major decisions) while I continue to work as a employee.

2

Yes, it is possible. But why would someone take full responsibility, if you're the one enjoying the profits? You'll have to pay your administrator a lot, and probably also develop a profit sharing plan to encourage success.

What you're looking, essentially is to be a passive shareholder, and not participate in any management decisions at all. Depending on your location, it will pose additional disadvantages for you (for example, in the US, that would force you to structure your business as a C-Corp, vs more advantageous S-Corp).

  • Possible. Weird, but possible. – gef05 Jan 6 '14 at 4:32

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.