I was in the middle of a summer holiday when I took the call from Sandy. She told me that she had been referred to me by a friend of hers that I had helped exit her business. She said that she was ready to retire but like many entrepreneurs needed to realize some money out of her business in order to move on to the next stage of her life.
Sandy’s request was not unusual to me. In fact most of the people who approach me for help in selling their business are boomers, (people born between 1946-1964) . If you are looking to buy a business, the wave of this baby boomer retirement presents an unprecedented opportunity for young people to acquire established businesses. With approximately 40% of small businesses in North America owned by baby boomers, many of these owners are now looking to retire, creating a significant inventory of businesses for sale. Because the pool of potential buyers is relatively small, younger buyers may find they have an advantage in negotiating favorable purchase prices. Because they want to see their businesses continue on successfully for the benefit of their staff members and their customers, many boomers are open to options like seller financing or deferred payment terms, making ownership more accessible for young entrepreneurs.
Beyond favorable terms, these businesses often come with untapped potential. Many boomer-owned companies haven’t fully leveraged technology or digital marketing, offering younger owners a straightforward path to growth by modernizing operations, improving efficiency, and expanding their reach. Even more advantageous is the willingness of many retiring owners to stay on temporarily to train new owners, offering years of valuable industry knowledge and support. This mentorship can be especially helpful for young entrepreneurs who may lack experience but have the drive and vision to take the business forward.
The financial environment also supports these transitions. Recognizing this generational shift, banks and other financial institutions offer favorable financing options, and government programs provide grants or loans tailored for young people taking over small businesses. Beyond the financial gains for individual buyers, these business transitions benefit entire communities by preserving jobs and sustaining local economies, ensuring the continuity of familiar services.
For young people, buying an established business offers a shorter path to profitability compared to launching a new venture from scratch, with established customer bases and cash flows. This combination of lower initial investment, community impact, and the potential for quick returns makes acquiring boomer-owned businesses an appealing route to financial independence and long-term success. The “silver wave” of boomer retirements represents a unique chance for young entrepreneurs to build wealth, innovate within established companies, and contribute to their communities in meaningful ways.
In Sandy’s case, I did take on the work of finding her a buyer for her business. I ended up matching her with a French company that was a great fit for her business with a younger generation of leadership that wanted to expand into North America. Whether you are a boomer looking for a way to enter your retirement years or a young energetic entrepreneur looking for a business with potential. The time now is bright and the opportunities for both exit and advancement are ripe.
Dave Fuller, MBA is a Commercial Realtor who specializes in selling businesses and commercial properties. Dave is also the author of the book Profit Yourself Healthy for small business owners who want to “Earn More and Worry Less” email dave@businessrealtor.ca
Comments