As much as younger generations like to make fun of Boomers, they should learn a couple of things from them. Namely, how they are selling their businesses for more money than ever before. It all comes down to the timing and who they are handing their companies over to.
Boomers are Cashing in BIG Selling Their Businesses
A recent report by BizBuySell showed that not only have the number of small businesses have returned to post-pandemic levels…
But are steadily increasing.
The catalyst for this “boom” is multifaceted. First and foremost, over half of the total number of business owners in the US are over 50 years old.
Therefore, most of these individuals are preparing for retirement.
“THE REALITY IS THAT 10,000 BABY BOOMERS RETIRE EACH DAY AND THAT’S LIKELY THE MOST IMPORTANT ELEMENT TO FUEL THE MARKET FORWARD.”
BizBuySell
But more importantly, there is a major perk to anyone selling businesses right now…
OWNERS WHO SOLD THEIR VENTURES MADE 20% MORE THAN THOSE WHO DID SO THE SAME TIME LAST YEAR.
Via The Guardian
Both factors contributed heavily to this “Great Boomer Business Exit.” That being said, just as important as a ready seller is an eager buyer…
Who is Scooping Up These Small Companies?
For better or worse, younger generations want a shortcut to entrepreneurship. As such, the buyers are ready to pay more to be their own boss.
Emmet Apolinario from Ohio Business Advisors told The Guardian:
“I’M SEEING MORE OF A YOUNGER DEMOGRAPHIC LOOKING INTO BUSINESS OWNERSHIP THAN IN YEARS PAST. THE MARKET IS FLOODED WITH ENTREPRENEURS INTERESTED IN BUYING BUSINESSES DESPITE INTEREST RATES.”
Regardless, you don’t have to be a part of the “older generation” to make the most of this ideal moment for selling businesses. If you are looking to exit, take a closer look because it may be wise to strike while the iron is hot.
Be Great,
GCTV Staff
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