Baby Boomers Looking for Successors.

In our marketing efforts to find new business listings, we find that baby boomers in the retirement age represent a large percentage of business sellers. In most cases, selling their business is the only remaining option. Their children are often not interested in taking over the business for multiple reasons:

  1. Children are seeking more independence from their parents and do not share the values and strategies the parents are following in their businesses.
  2. Children do not necessarily have the entrepreneurial spirit that has driven their parents to start and take the business to its current level of success. Their life goals might not be similar to those of their parents.
  3. Parents are bright entrepreneurs but not necessarily good managers. They have hard time sharing information with the children and delegating tasks. This incapacity to delegate often frustrates children.

This situation creates great opportunities for business buyers. A lot of excellent businesses for sale will be coming to the market in the next few years as more and more baby boomers will come to the retirement age. Recent statistics have shown that every year, 20% of the existing businesses will be for sale.

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Omar Kettani

I am a business broker in Toronto. I am specialized in selling businesses with less than $10 million in value. I have a master of Engineering from a top-notch French Engineering school and an MBA from the prestigious Richard Ivey Business school in the University of Western Ontario where I specialized in entrepreneurial finance. I have a long experience in banking, business ownership, marketing and finance. I dedicate my career to helping small and middle size business owners sell their businesses to the right buyers.

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