We recently read an article entitled, “Baby Boomers are Selling Their Businesses to Millennial Entrepreneurs, and it’s a Brilliant Idea”.
This is a topic we often discuss at CBI Team Fort Smith-River Valley because of the increasing number of baby boomer business owners (defined as those born in the mid 1940s-mid 1950s) nearing retirement age.
Due to burn-out in a traditional workplace, a growing number of millennials (defined as those born in the early 1980s-late 1990s) are quitting their jobs and looking for the freedom that owing a business can bring.
The article points out:
“Instead of just letting businesses close down, we need more millennials who can identify these opportunities, buy into them and grow them. These baby boomer businesses often have no debt, loyal customers, and tested and proven business models. The person selling the business is also often willing to stay on as an advisor since they spent their entire life building the business…All in all, it’s a win-win opportunity.”
Are you a baby boomer business owner? There are eager millennial buyers looking to carry on what you have created and take it to the next level, possibly via new platforms (i.e. social media.) See where you fit on our seller checklist timeline.
Are you a millennial entrepreneur ready for the freedom owning your own business provides? We have a wide variety of listings for you to check out.
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