What’s Next for Trump? Family Business Awaits His Return

The investigations could also lead to negative publicity as the company is looking to expand.

Over the past four years, Bobby R. Burchfield, a Washington lawyer, served as the Trump Organization’s ethics adviser, scrutinizing potential deals and business partners. The examinations made it difficult for some to pass muster, while others were scared off by the public attention.

That scrutiny will now fall away, opening a pipeline of new partners.

And with more than $300 million in debt coming due that the president has personally guaranteed, there may be some urgency for the Trump Organization to line up new deals. In addition, an adverse ruling in an audit battle with the Internal Revenue Service could cost him more than $100 million, The Times reported in September.

Some of Mr. Trump’s most lucrative properties are in Democratic strongholds, like New York and Chicago, where he remains deeply unpopular. And his biggest revenue-generator, his Doral golf resort in Florida, has suffered from a drop-off in conference revenue as some big companies and organizations stayed away because of his divisiveness.

As president, Mr. Trump has tried to fill the gap, at least in part, through events booked at his properties by groups connected to him and Republican politics. The Trump International Hotel near the White House was often brimming with partisan allies.

It is unclear if that patronage will continue, or if Mr. Trump’s detractors will return to his properties once he leaves office. Additionally, it has been a tough year for the hospitality industry because of the pandemic, and the headwinds have hit commercial real estate, too. Both are central to Mr. Trump’s business portfolio.

Mr. Trump, as of late, has privately raised the idea of running again in 2024. And the possibility of another Trump presidential run could have a chilling effect on his business in the intervening years, at least in countries like China, where a thicket of ethical and legal conflicts could arise.

The president also may not be the last Trump to run for elected office.

Donald Trump Jr. and Ivanka Trump may hold future political aspirations, and that could curb some plans for growth. The risks are greatest on the international front, where potential for conflicts of interest abound.