Small business or health care?
Most people are aware of the impact of baby boomers on the health care system. If you’re looking for stable employment, it hard to do better than working in health care as the baby boomer generation needs more and more care.
Another implication most people aren’t aware of is the boomers small business market. Yes, we realize they’re looking to retire in the next few years but most don’t realize that means the ones that own small businesses that they operate may be looking to sell.
In fact that’s what we’re see happening now already.
More Small Business For Sale, Lower Prices
Bizbuysell.com is a site that lists small businesses for sale. They report that while selling activity has increased to 2008 levels, prices have fallen 3.2% in the last quarter:
“Business owners are continuing to adjust their pricing in order to expedite a sale,” said Mike Handelsman, group general manager of BizBuySell.com. “While some may still be holding out for an economic recovery, many more are trying to exit at acceptable prices, even if it means settling for a lower number than they originally expected.”
Small Business Selling Tips
If you are a small business owner looking to sell, the WSJ has some tips for you based on common mistakes. Most of them are to do the opposite of the mistake.
Mistake: The business is dependent on you.
Mistake: Not planning for tax implications of the sale.
Mistake: Not getting a realistic appraisal.
Mistake: Only looking at the bottom line of an offer.
Mistake: Not hiring experienced professionals to handle the deal.
Mistake: Not being prepared for the emotional consequences of selling the small business.
One small business idea is clearly then to be any sort of professional who can assist a small business owner with the sale of their business. Alternately, now and in the near future will probably be a great time to acquire a cash flowing small business.