Great Time to Buy a Business

If you're ready to go out on your own --- NOW is a good time to buy a business! We're seeing the beginning of a business selling "tsunami" because Baby Boomers are ready to sell their businesses and retire! Harris County Business Broker Jim Eaton says "mom and pops" are going to strategic buyers. "Those are people who are either customers, suppliers or competitors to the business that is being sold." Larger companies with at least 25 million dollars a year revenue are selling as well. Eaton explains, "There are plenty of private equity groups that will snatch it up, fix it up , repackage it and re-sell it."

12 million American companies will be ripe for the picking in the next 10 years. Eaton says the transaction can be complicated and painful for the seller. "Remember, Baby Boomers are selling their baby.They have created it, developed it, nurtured it through good years and bad. Another problem they may have is what they will do when they retire. You can only play so much golf!"

If you're looking to buy, Eaton says to find a company with a good staff who agrees to stay at least another year. Sellers should find a good broker first.

selling a business

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