Recovery from the recent recession and oil spill has held back many business sales as owners in Florida lost savings and suffered from reduced profits, resulting in lower valuations for their businesses and insufficient funds for retirement. This scenario has changed recently with many more good, solid, profitable businesses coming on the market.
At the moment, there are about the same number of financially qualified buyers as there are good, solid, profitable businesses for sale. When a good, solid, profitable business hits the market, it is usually purchased in three to nine months. However, I am starting to speak with many more business owners with profitable businesses ready to test the market. As baby boomer business owners continue their recovery and they hit retirement age, I suspect the trend to accelerate over the next ten years.
Here are some key figures to ponder:
- 35% of all business owners are baby boomers.
- The average retirement age of a small business owner is 68.
- The average baby boomer is 65.
- The tipping point appears to be three years away.
The question I have to business owners is, which side of the tipping point do you want to be on?
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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