hat type of business:

• produces a physical product
• outsources manufacturing
• requires no equipment, no capex
• doesn't carry inventory
• and can be run by a single individual, and from anywhere

...?

No, I'm not thinking of a dropshipping or Amazon FBA business.

I'm thinking of Flavor-Crisp, the business acquired by today's guest Pat Lazure.

Flavor-Crisp is a breading and batter mix used by restaurants for their fried dishes like fried chicken & fish, as well as pork tenderloin and other menu items.

And there's so much to love about it, in addition to the aforementioned characteristics:

It's a 63-year-old business.

It was run by a single person (and now Pat).

And the average relationship with its customers is measured in decades.

You can see why Pat fell in love with it, and pursued the previous owner for a couple years.

He did also search for businesses elsewhere, but it was Flavor-Crisp, the very first business he looked at, that he really wanted and ultimately got.

During Pat's search, he actually spun up another interesting, nichey business, which I'll call Netflix for barber shears. (You'll see what I mean.)

Pat and I discuss that business too.

Both of these businesses meet his own investing philosophy:

"The more obscure, the more allure."

Please enjoy this conversation with Pat Lazure, owner of 2 obscure, alluring businesses.