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Started By
Message
re: Many Baby Boomer businesses going for sale in the next 5-10 years.
Posted on 8/1/23 at 7:09 pm to CalcasieuTiger
Posted on 8/1/23 at 7:09 pm to CalcasieuTiger
quote:
note: Are there more mom and pop businesses owned by 55-65 year olds than any other current generation? If so, why is that?
quote:
Because it requires a strong work ethic.
It absolutely does, but it also requires an economy that doesn’t have a massively high barrier to entry like many business today do.
In the oilfield for example, how many business back in the 70’s and 80’s had to have an IT department, or and HR department, hell a HSE department?
I’ve often thought about trying to start my own company in this line of work, but if I didn’t have a guaranteed positive cash flow to start, it would be virtually impossible.
Today if you’re starting a company you need someone versed in finance, versed in HR, versed in IT, and versed in the legal nature of your business. It’s why corporations are such huge fans of regulations, they can afford to pay people to handle it where as start-up/mom and pop’s can’t.
2
Posted on 8/1/23 at 7:13 pm to evil cockroach
quote:
examples? Not calling you a liar , just want to know
It’s part of what I do when I’m diligencing deals for the investors I work for.
Posted on 8/1/23 at 7:28 pm to Meauxjeaux
Thought about it, but I've made a life for myself in a different field and in a different area. Plus the old man worked far harder than I want to 
Posted on 8/1/23 at 7:31 pm to BayouBengal23
quote:
Are there more mom and pop businesses owned by 55-65 year olds than any other current generation? If so, why is that?
They got in before government regulation and inflation raised the barrier for entry. Then they sat on their asses and kept voting retards into office who would raise the barrier even higher.
Boomers are the "not my problem" generation. They gave no thought to what would happen to anyone but themselves.
They were handed the greatest economy in the history of the world and they squeezed every last drop out of it for themselves and the rest they sold to China and Mexico.
Posted on 8/1/23 at 7:31 pm to dbeck
We will have the last laugh when we legalize euthanasia
Posted on 8/1/23 at 7:34 pm to dbeck
quote:
Boomers are the "not my problem" generation. They gave no thought to what would happen to anyone but themselves.
Let me guess - you're entitled to wealth, correct?
Posted on 8/1/23 at 8:38 pm to billjamin
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
Yep. They believe lies told about the multiples on revenues that others’ were valued at. Deferred payouts, continued employment, non competes, etc. I’ve seen a lot of bubbles bursted
Posted on 8/1/23 at 8:39 pm to CAD703X
quote:
thats your takeaway from this??
I mean it’s petty relevant. Not a favorable market if there are many sellers
Posted on 8/1/23 at 8:40 pm to BayouBengal23
quote:
For people wanting to get out of the hustle and bustle of the corporate ladder, there will be ample opportunity soon to buy a business. Really tossing around the idea of finding something I’m interested in and jumping in soon.
Most of them will probably sell out to larger competitors. The consolidation of America will continue.
This post was edited on 8/1/23 at 9:26 pm
Posted on 8/1/23 at 9:02 pm to Oilfieldbiology
quote:
Today if you’re starting a company you need someone versed in finance, versed in HR, versed in IT, and versed in the legal nature of your business.
For a small / micro business and startup, this shite can all be cheaply outsourced until revenues support doing in-house.
Posted on 8/1/23 at 9:05 pm to BayouBengal23
If boomers knew how to raise their kids they wouldn't have to sell their businesses.
Posted on 8/1/23 at 9:09 pm to The Third Leg
quote:
For a small / micro business and startup, this shite can all be cheaply outsourced until revenues support doing in-house.
It’s not super cheap.
Trinet/ADP gonna charge you 10-20k for setup then variable per employee.
Accounting firm gonna want a decent retainer plus a chart of accounts setup fee.
Lawyers going to want a decent retainer.
IT gonna charge you 10k minimum for emails, website, basic infrastructure setup.
Insurance can be a thousand up to tens of thousands depending on the industry.
Any licensing going to set you back even more.
It adds up quick. I was looking at going out on my own earlier this year and with 10 employees our first year opex was in the millions just to get the infrastructure moving in the right direction.
This post was edited on 8/1/23 at 9:11 pm
Posted on 8/1/23 at 9:12 pm to BayouBengal23
quote:
Are there more mom and pop businesses owned by 55-65 year olds than any other current generation? If so, why is that?
1. That age range will always make up the majority of small business ownership. It takes that long to get to the point of starting a business.
2. Massive consolidation in every industry and every economic sector is eliminating small businesses generally, and really hammering “mom and pop” places.
Posted on 8/1/23 at 9:12 pm to danilo
quote:
Not handing over or selling to their kids?
Lol at thinking boomers have a relationship with their kids. The kids do t want to be anywhere near the boomer parents, much less take over for them.
Posted on 8/1/23 at 9:16 pm to billjamin
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
Seeing a lot of this in the CPA firm world. Especially the one owner firms. What’s starting to happen is they are dying and the wife is selling them for like 10% of what the asking price was before death.
Posted on 8/1/23 at 9:17 pm to H2O Tiger
quote:
It's a great way to become a millionaire, if you start as a billionaire.
Reminds me of the two best days in the life of a bass boat owner
The day they buy the boat and the day they sell the boat.
Posted on 8/1/23 at 9:19 pm to BayouBengal23
Imagine how many children of business owners are super woke and now they're about to be "job creators" once their dads start to fade away.
Posted on 8/1/23 at 9:21 pm to CleverUserName
quote:
Like asking the government to pay off their loans? Claiming college should be free? Wanting rent abolished?
Yeah, this is much worse than deficit spending…
Stupid boomer
Posted on 8/1/23 at 9:24 pm to CleverUserName
quote:
Which means they are not in a hurry to sell. Which means they don’t have to sell.
That’s all well and good until you can’t actually do the work anymore,
Posted on 8/1/23 at 9:27 pm to Oilfieldbiology
quote:
Today if you’re starting a company you need someone versed in finance, versed in HR, versed in IT, and versed in the legal nature of your business. It’s why corporations are such huge fans of regulations, they can afford to pay people to handle it where as start-up/mom and pop’s can’t.
3 guys:
Operations
Finance
Sales
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