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Boomer small business owners retiring could mean golden opportunity for younger Americans

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Data shows millions of baby boomer small business owners are poised for retirement in coming years, and that means enormous potential for younger generations of aspiring entrepreneurs.

For years, studies have projected a wave of small businesses will change hands in the U.S. as a "silver tsunami" of aging baby boomer entrepreneurs retire. But the pandemic, high inflation, rate hikes and other economic disruptions and uncertainty have caused jitters for aspiring buyers and sellers alike. Now, evidence shows the great boomer business sell-off is underway, and it is far from over.

BizBuySell's latest insight report found transactions were up 10% year over year in the first quarter, and the analysis expects deals to pick up the pace through 2024, with more sellers planning to offer seller-financing. Codie Sanchez is the founder and CEO of Contrarian Thinking, a media, investing and education company that teaches aspiring entrepreneurs how to acquire "boring" cash-flowing businesses, like laundromats.

 

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