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Bill: What does the future for business sales look like? We asked expert Heath Frantzen:
Heath: It’s a buyer’s market for the next 20 years. The Baby Boomer generation in this country has approximately 225,000 business owners turning 65 each year, looking for an exit. The problem is, is that there’s only about 24,000 sales each year, and 3 out of 4 of those are failures, so you’ve got a 3% chance, and only the most profitable businesses with the most flexible seller’s are gonna be sold successfully. And know that astute buyer’s have lots of choices, so you’ve gotta do the things that it takes to give yourself a fighting chance against your competition. Spend some time understanding that the professional buyer’s buy investments, and the difference between owning a job and owning a business is leverage, and this is leverage through delegations, systems, culture, finance, etc.
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