Hi guys, looks like no experienced owners have answered yet but the podcast guests have tended to align in stating that in general you want them a 30 minute drive away from you. I’m sure there are factors that can come into play. I’m working on buying my first location and its actually 70 minutes from my door to the location so I heeded the advice of those that went before me, and I gave my brother in law 50% of the business because he happens to live 21 minutes away from a location I found for sale. I figured I’d rather have half of a good deal (assuming it clears due diligence) than 0% and still looking.
I’d keep digging, but I can tell you that even if my brother in law would not have partnered with me I would have strongly considered buying this specific location, and figuring it out because of the age of the equipment, lack of competition, etc.