Re-Invigorating a Baby Boomer Business - Buying and Building
Retiring Baby Boomers are looking to sell over 12 million businesses, and Gen-X'ers and Millennials are poised to seize the opportunity. These are usually unsexy lifestyle companies like manufacturing, distribution, or construction. They may be lacking investment in new technology or modern digital marketing; however, with loyal customers and profitable operations, the potential is far greater than starting from scratch.
Come hear panelists' experience re-invigorating old Baby Boomer Businesses with new software, digital advertising, and a young perspective. Learn about the buying process, how to spot a good deal, and what pitfalls to look out for.
Sandra Payne - Owner of Denver Concrete Vibrator
What in the world are concrete vibrators? Sandra wondered the same thing 18 years ago when she bought this tired old business with her life savings and an SBA loan. Since then her and her husband have innovated and grown it into an industry leader. She'll share the secrets of her success and her latest challenge: selling the business to a new generation.
Dave Capkovitz - Owner of Freedom Plumbing & Heating
Dave is reaping the rewards of an unexpected success: an HVAC and plumbing business in northeast Indiana. As soon as he saw the struggling ma' and pa' shop, he knew the fruit was low-hanging and the potential huge. Now his well-trained staff and scalable systems are gobbling up market share. Come hear the tips and tricks he used to find big rewards in small places.
Jody Thorpe - Head Distiller & Prospective Future Owner, Dancing Pines Distillery
Jody was bottling a barrel of whiskey one day when he overheard the owners talking about their struggles. The business had grown too big, and they wanted out. Jody knew this was his chance to buy the business he loved and take it to the next level. Now scheduled to close on the acquisition in June, come hear about how his role transformed from employee to buyer to owner; who he reached out to for expertise and help, where he got the money, and what risks he dodged to make it happen.
Matt Prescott, CBI & Business Broker with Transworld - Rocky Mountain
As a business broker, Matt has seen it all: financing challenges, confidentiality concerns, varying buyer motivations. He knows the key to a successful business transaction is to prep owners with his knowledge, tools, and network needed to support each deal. He knows success hinges on open dialogue to ensure both buyers and sellers are treated fairly. But most of all, Matt strives to ensure the legacy of each business will be carried on.