Baby Boomers are retiring from the workforce, and Boomers who own their own businesses are also looking to cash out.
What will happen to the millions of Boomer-owned small businesses? X-ers, Millennials, and even Zoomers looking to be their own boss may have a great opportunity.
Usually, when a small business owner decides it is time to hang it up, they look to get their equity back by selling the operation to a new owner. UNO professor Mark Rosa says that with the wave of Baby Boomers leaving the workforce, supply and demand mean these businesses will cost less.
"People might be getting in on the purchase side relatively cheaply compared to previous years," he said, and that means bargains for anyone looking to buy a business.
"Or maybe a couple of them," said Rosa. "You put a couple of them together in a geographical area and that might give you economies of scale."
Rosa says Boomer business owners may hedge against this by stipulating the sale includes keeping them around as a paid consultant -- but that helps the new owner learn the ropes, and reduce the risk of running off long time customers.