- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Many Baby Boomer businesses going for sale in the next 5-10 years.
Posted on 8/1/23 at 12:51 pm to danilo
Posted on 8/1/23 at 12:51 pm to danilo
quote:
Not handing over or selling to their kids?
You think us boomers are gonna give anything to those shithead millenials? We’re gonna finish destroying the economy and climate forever and check out baw
ETA: boomers are leaving everything in their will to israel
This post was edited on 8/1/23 at 12:52 pm
1
Posted on 8/1/23 at 12:51 pm to More beer please
quote:
He refused to accept an official 3rd party valuation of his business because he believed it was worth much more.
quote:
Just purchased a business from someone above 70
So he beat your arse at the negotiating table?
Posted on 8/1/23 at 12:51 pm to el Gaucho
Find some new material.
Your shite is whack.
Your shite is whack.
Posted on 8/1/23 at 12:52 pm to ronricks
quote:
Good luck negotiating with Baby Boomers. They are the most delusional and greedy bunch out there.
Like asking the government to pay off their loans? Claiming college should be free? Wanting rent abolished? Yea. What you said is why 79% of people in management say that Gen Z is the most difficult generation to work with because of their entitlement and lack of work ethic.
Posted on 8/1/23 at 12:53 pm to andouille
quote:
The millennials should grab them up, I gave up being a wage slave when I was 50, best move of my life. I would do it again if I only made half of what someone else was paying me.
There will be a ton of opportunities to do it. The question will be, will the be able to get realistic valuations so that can finance them or will the owners demand unfinancable values and be forced to take high risk self financed deals.
Posted on 8/1/23 at 12:55 pm to billjamin
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
Came here to post pretty much this. These Boomers think they are sitting on gold mines and will want 3x what their life’s work is really worth. Going to be a rude awakening for many of them.
Posted on 8/1/23 at 12:55 pm to hellsu
quote:
Successfully operating your own business requires someone who is strong, independent and focused on the business at hand not focused on blaming everyone else for your own shortcomings.
Funny since that was my exact experience working in small businesses. Owners who refuse to take any responsibility.
Not that its much better in corporate world. And sure there are some as you describe, but its far from being the norm.
Posted on 8/1/23 at 12:56 pm to CleverUserName
quote:
Like asking the government to pay off their loans? Claiming college should be free? Wanting rent abolished?
Like demanding a check every month and free healthcare til they die? Like demanding we give israel 20 trillion a year so they can “rebuild the temple of Jerusalem”?
Posted on 8/1/23 at 12:56 pm to BayouBengal23
Covid was designed to eradicate small businesses and it was very successful at that.
Baby boomers saw their parents work in corporate jobs and decided they would rather become entrepreneurs, thus the proliferation of boomer owned small businesses.
The good news for you looking to buy one of those boomer owned small businesses is that any small business that survived covid and Bidennomics must be conceptually very sound.
Good luck, but just know that the cards are still all stacked against small businesses, as the one world govt uniparty WEF policies inure to the benefit of large corporations to the detriment of entrepreneurs.
Posted on 8/1/23 at 12:59 pm to BayouBengal23
There is a huge wave of transactions happening in the lower middle market. LMM IBs are busier than ever and getting busier.
Posted on 8/1/23 at 1:07 pm to Pax Regis
I’ve seen enough boomers chicken peck the keyboard on an excel file to know to stay away. Sad how incompetent an entire generation is
Posted on 8/1/23 at 1:08 pm to el Gaucho
quote:
Like demanding a check every month and free healthcare til they die?
What’s that called? And was there any way to opt out of paying in to it during any point in their working lives? Or was it government mandate?
And these boomer small businesses the thread was about? They had to double the amount of SS and Medicare paid by the employees and send that in. So they paid their own and the businesses portion. Oh yea… they also had to pay everybody’s unemployment insurance for free.
One thread will be a complaint on how many boomers will not retire to let them get promoted and another thread will be how they are parasites eating up entitlements.
Gotta love it.
This post was edited on 8/1/23 at 1:15 pm
Posted on 8/1/23 at 1:23 pm to BayouBengal23
All great until private equity buys them all up and creates a bunch of local monopolies.
Posted on 8/1/23 at 1:29 pm to Duke
I was approached by an older gentleman to buy his company last year. He had an unrealistic valuation and would not consider his liabilities he had too. We were so far apart I ended up just dropping the offer.
Posted on 8/1/23 at 1:33 pm to billjamin
quote:
Pretty typical. I've seen dozens of construction companies lately coming in hot with 4-5X expectations.
Which means they are not in a hurry to sell. Which means they don’t have to sell. Which means the business is making profit. Which means the business is functioning pretty damn well.
Not bad for someone who is delusional and greedy.
If they price you out. Start one with the money you were going to pay. Compete. But you may get a definition of what “goodwill” as an asset of the other company is pretty quickly if you do that.
Posted on 8/1/23 at 1:37 pm to lrabor3
quote:
I was approached by an older gentleman to buy his company last year. He had an unrealistic valuation and would not consider his liabilities he had too. We were so far apart I ended up just dropping the offer.
Edit: read it wrong. Thought you said “I approached him”
Well again.. the answer it, form a competing enterprise and do not overpay. Market forces is a real thing. Use them.
This post was edited on 8/1/23 at 1:41 pm
Posted on 8/1/23 at 1:39 pm to BayouBengal23
Many of my clients are dental practices. It's nuts watching Boomer dentists bring in Millennial dentists to buy it. Most work out and transition the practice.
I've witnesses arguments on calls/meetings. Boomer dentists value their time, where Millennial dentists want to do everything themselves. Even when you try to explain that they really don't need to worry about editing a damn website.
But from what I've heard from the older folks in my business, the hate between those two generations is more than any other... even how the Greatest generation viewed the young Boomers at the time.
I've witnesses arguments on calls/meetings. Boomer dentists value their time, where Millennial dentists want to do everything themselves. Even when you try to explain that they really don't need to worry about editing a damn website.
But from what I've heard from the older folks in my business, the hate between those two generations is more than any other... even how the Greatest generation viewed the young Boomers at the time.
Posted on 8/1/23 at 1:40 pm to BayouBengal23
quote:
Side note: Are there more mom and pop businesses owned by 55-65 year olds than any other current generation? If so, why is that?
Because their parents opened it and made it successful and the Boomers who own it now haven't retired yet.
Posted on 8/1/23 at 1:40 pm to CleverUserName
quote:
Which means they are not in a hurry to sell. Which means they don’t have to sell. Which means the business is making profit. Which means the business is functioning pretty damn well.
Thats making a lot of assumptions. Some ended up selling for a fraction of the original ask. Usually in the 1.5-1.75X range.
quote:
Not bad for someone who is delusional and greedy.
I never said greedy. I said delusional about their enterprise value, which they are.
quote:
If they price you out. Start one with the money you were going to pay. Compete. But you may get a definition of what “goodwill” as an asset of the other company is pretty quickly if you do that.
I'm not a buyer. I don't want any of that shite. I see a bunch of these come through the investors I work with and help them diligence the companies and determine the value. I really don't care because i get paid the same if the deal goes through or not.
Posted on 8/1/23 at 1:43 pm to billjamin
quote:
Thats making a lot of assumptions. Some ended up selling for a fraction of the original ask. Usually in the 1.5-1.75X range.
So you are saying there was someone who wanted the moon, someone who wanted to pay less that it’s worth… there was a negotiation… and a price was reached?
I have never heard of that happening.. ever… in the history of business. Anyone else?
Page 3 of 8
Popular
Back to top
Follow TigerDroppings for LSU Football News