ATP 69: Downfall of Searching for a Boomer Business
Update: 2024-10-12
Description
Buying a baby boomer business might seem like a great opportunity, but it comes with some unique challenges. Let’s recap the three big ones:
- Aging workforce: You need to figure out if key employees are close to retirement and whether younger talent will be willing to join or stay with the company.
- Stubborn sellers: Be prepared for some emotional attachment and sellers who refuse to negotiate, even if it means they’d rather close the business than accept a lower offer.
- Outdated operations: Some businesses may not have kept up with industry changes or modern technologies, which means you’ll have to invest in modernization to keep them competitive.
In this episode of After The Pitch, we're going to dive into these downfalls so you can avoid troubles when looking for a baby boomer business to buy.
Theme Song "Made For" by J. Kirk
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Thanks for listening!
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