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Entrepreneur
6 days ago
- Business
- Entrepreneur
Pillar To Post Home Inspectors is a Trusted Franchise in the Growing Home Inspection Industry
Join a nationally recognized franchise with a reputation for quality and professionalism. Why Own a Pillar To Post franchise? Are you ready to take the next step toward business ownership in a stable, high-demand industry? At Entrepreneur, we're excited to introduce you to Pillar To Post Home Inspectors—North America's leading home inspection franchise and a trusted name for over 25 years. As a Pillar To Post franchise owner, you'll provide essential home inspection services that help buyers, sellers, and real estate professionals make confident decisions. With a proven business model, comprehensive training, and ongoing support, you can build a thriving business with the backing of an industry leader. Benefits of owning a Pillar To Post Home Inspectors: Established Brand: Join a nationally recognized franchise with a reputation for quality and professionalism. Growing Market: The real estate industry's continued strength drives steady demand for home inspection services. Comprehensive Support: Benefit from in-depth training, marketing resources, and operational guidance from day one. Flexible, Scalable Model: Start as a single operator or grow into a multi-inspector business at your own pace. Click the button below to learn more about how Pillar To Post can help you achieve your entrepreneurial goals.
Entrepreneur
21-05-2025
- Business
- Entrepreneur
These Are the Top 10 Franchises Under $25,000 in 2025
Starting a franchise doesn't have to drain your savings or saddle you with massive debt. In 2025, ambitious entrepreneurs can tap into top-tier franchise opportunities for under $25,000. These affordable, Franchise 500-ranked businesses cover a diverse array of industries — including travel, fitness, business services and education — and provide a straightforward path to business ownership. Regardless of if you're aiming to supplement your income, pivot careers or finally launch your entrepreneurial dream, these budget-friendly franchises offer the tools, training and support needed to set you up for success. Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget. 1. Stratus Building Solutions Founded: 2004 2004 Franchising since: 2006 2006 Overall Rank: 23 23 Number of units: 4,182 4,182 Change in units: +73% over 3 years +73% over 3 years Initial investment: $4,450 - $79,750 $4,450 - $79,750 Leadership: Doug Flaig, CEO Doug Flaig, CEO Parent company: SBS Franchising LLC Stratus Building Solutions offers a low-cost way to break into the commercial cleaning industry, with startup fees starting under $5,000. Known for its eco-friendly approach and flexible ownership options, the brand has grown rapidly in recent years — making it a solid choice for entrepreneurs looking for a part-time start or a scalable business in a stable sector. Related: How a Police Officer Started a Pet Care Business Making $3 Million a Year 2. Dream Vacations Founded: 1991 1991 Franchising since: 1992 1992 Overall Rank: 41 41 Number of units: 2,078 2,078 Change in units: +39.7% over 3 years +39.7% over 3 years Initial investment: $2,590 - $21,870 $2,590 - $21,870 Leadership: Brad and Jeff Tolkin, co-CEOs/chairmen Brad and Jeff Tolkin, co-CEOs/chairmen Parent company: World Travel Holdings Dream Vacations offers one of the most accessible franchise opportunities in the travel industry, with startup costs beginning at just a few thousand dollars. This home-based business model is designed for maximum flexibility, allowing franchisees to work from anywhere while selling cruises, resort packages and custom vacations. With no need for office space or inventory, it's an appealing option for those looking to break into entrepreneurship with minimal overhead. Whether you're starting part-time or aiming to build a full-time travel business, Dream Vacations provides comprehensive training, ongoing support and a proven system to help franchisees succeed. Related: She Turned a Temporary Post-College Job Into Starting a Business at 23. Then Some 'Eye-Opening' Advice Helped Her Grow It to $5 Million. 3. Anago Cleaning Systems Founded: 1989 1989 Franchising since: 1991 1991 Overall Rank: 44 44 Number of units: 1,873 1,873 Change in units: +9.0% over 3 years +9.0% over 3 years Initial investment: $2,590 - $21,870 $2,590 - $21,870 Leadership: Adam Povlitz, CEO & President Adam Povlitz, CEO & President Parent company: Anago Cleaning Systems Anago Cleaning Systems offers a flexible, home-based franchise model that's well-suited for entrepreneurs looking to start small and scale on their own terms. With a low initial investment, franchisees can launch a commercial cleaning business without the need for a storefront, large staff or daily hands-on involvement. The system is designed to support part-time or full-time operation, making it a strong fit for those balancing other jobs or family commitments. Backed by a robust support system — including training, customer billing and marketing resources — Anago provides a streamlined path into a stable, recession-resistant industry. Related: I'm CEO of an International Commercial Cleaning Franchise. Here's How I've Turned My Failures Into Fuel for Success. 4. Cruise Planners Founded: 1994 1994 Franchising since: 1999 1999 Overall Rank: 70 70 Number of units: 2,961 2,961 Change in units: +11.4% over 3 years +11.4% over 3 years Initial investment: $1,945 - $20,465 $1,945 - $20,465 Leadership: Michelle Fee, CEO Michelle Fee, CEO Parent company: CP Franchising LLC Cruise Planners offers a low-cost, highly flexible way to enter the travel industry, making it an appealing option for aspiring entrepreneurs who want to work from home — or anywhere with Wi-Fi. With a modest initial investment and no need for office space or inventory, franchisees can focus on selling everything from cruises to luxury vacations at their own pace. The model is ideal for part-time or full-time operation and includes access to robust marketing tools, training and ongoing support. Whether you're new to travel or looking to turn a passion into a business, Cruise Planners provides the structure and freedom to grow on your own terms. Related: How the IFA Plans to Strengthen the $800 Billion Franchise Industry in 2025 5. Jan-Pro Cleaning and Disinfecting Founded: 1991 1991 Franchising since: 1992 1992 Overall Rank: 77 77 Number of units: 11,266 11,266 Change in units: +7.5% over 3 years +7.5% over 3 years Initial investment: $4,830 - $58,070 $4,830 - $58,070 Leadership: Gary Bauer, brand president Gary Bauer, brand president Parent company: Empower Brands Jan-Pro Cleaning & Disinfecting offers a low-cost, home-based franchise opportunity built for flexibility and long-term growth. With a modest upfront investment, franchisees can launch a commercial cleaning business that doesn't require a storefront, staff or prior industry experience. The model supports part-time or full-time operation, making it a strong fit for entrepreneurs looking to ease into ownership or build a scalable business over time. Jan-Pro provides extensive training, brand recognition and built-in support systems such as client acquisition and billing, helping franchisees focus on delivering reliable service. Related: 64 Million U.S. Households Have a Pet. Here's How This Top-Ranked Franchise Is Making Busy Owners' Lives Easier. 6. Corvus Janitorial Systems Founded: 2004 2004 Franchising since: 2004 2004 Overall Rank: 78 78 Number of units: 2,253 2,253 Change in units: +47.7% over 3 years +47.7% over 3 years Initial investment: $7,575 - $32,500 $7,575 - $32,500 Leadership: Brennen Randquist, co-CEO Brennen Randquist, co-CEO Parent company: Corvus Holdings LLC Corvus Janitorial Systems provides an affordable path into the commercial cleaning industry, with startup costs beginning around $7,500. This home-based model is ideal for entrepreneurs who want to build a business with recurring revenue and low overhead. Franchisees receive in-depth training, continuous support and the backing of a growing national network. Ranked #78 on Entrepreneur's 2025 Franchise 500, Corvus stands out as a smart choice for those looking for flexibility, stability and room to scale. Related: How Shaq Is Bringing Fun Back to Papa Johns 7. Estrella Insurance Founded: 1980 1980 Franchising since: 2008 2008 Overall Rank: 172 172 Number of units: 212 212 Change in units: +21.1% over 3 years +21.1% over 3 years Initial investment: $12,250 - $84,000 $12,250 - $84,000 Leadership: Jose Merille, vice president Jose Merille, vice president Parent company: Confie Estrella Inc Estrella Insurance delivers an affordable franchise entry into the insurance market, with initial investments ranging from approximately $12,000 to $84,000. Rooted in a home-based or small-office model, the opportunity allows owners to build a location-focused agency offering auto, home, business and even specialty insurance products. Franchisees receive hands-on training, ongoing marketing support and access to a network of locations across the U.S. Whether you're seeking a first-time venture or a multi-unit opportunity, Estrella Insurance is a compelling option for entrepreneurs looking for flexibility and long-term potential. Related: This College Student Pitched His Parents a Business Idea. Now, He Runs a $7 Million Ice Cream Brand. 8. Leadership Management International Founded: 1966 1966 Franchising since: 1966 1966 Overall Rank: 183 183 Number of units: 495 495 Change in units: +3.8% over 3 years +3.8% over 3 years Initial investment: $20,000 - $27,500 $20,000 - $27,500 Leadership: Randy Slechta, CEO Randy Slechta, CEO Parent company: Leadership Management International, Inc. Leadership Management International (LMI) offers a low-overhead, home-based franchise opportunity focused on leadership development and professional coaching. With a low initial investment, it's an appealing option for entrepreneurs with a background in business, education or consulting who want to help others grow professionally. Franchisees receive comprehensive training, access to proven development programs and ongoing support to build client relationships and grow their practice. Designed for flexibility, LMI allows owners to operate part-time or full-time, making it a strong fit for those looking to launch a purpose-driven business on their own schedule. Related: She Was a Lawyer with No Restaurant Experience. Now, She's Reviving an Iconic Restaurant Chain. 9. Sanford Rose Associates Founded: 1959 1959 Franchising since: 1970 1970 Overall Rank: 195 195 Number of units: 179 179 Change in units: +11.2% over 3 years +11.2% over 3 years Initial investment: $11,400 - $14,800 $11,400 - $14,800 Leadership: Karen Schmidt, president Karen Schmidt, president Parent company: Kaye/Bassman Int'l. Corp. Sanford Rose Associates offers a low-cost path into the executive search and recruiting industry, with startup costs beginning under $15,000. This home-based franchise is ideal for professionals who want to leverage their experience and networks to build a client-focused business on a flexible schedule. With no storefront required, franchisees can operate part-time or full-time while receiving training, branding support and access to a collaborative national network. Backed by decades of industry credibility, Sanford Rose is a strong fit for those seeking a service-driven business with low overhead and high growth potential. Related: This Is The One Video Every Emerging Franchise Should Start With 10. American Poolplayers Association Founded: 1981 1981 Franchising since: 1982 1982 Overall Rank: 229 229 Number of units: 357 357 Change in units: +6.3% over 3 years +6.3% over 3 years Initial investment: $21,936 - $30,520 $21,936 - $30,520 Leadership: Greg Fletcher, president Greg Fletcher, president Parent company: American Poolplayers Association, Inc. The American Poolplayers Association offers a unique franchise opportunity for entrepreneurs who enjoy community engagement and flexible scheduling. With a relatively low startup cost, franchisees organize and manage local amateur pool leagues — no storefront or inventory required. The model is built around recurring revenue from league play and is well-suited for those looking to start part-time or build a full-time business. Franchisees receive training, access to operational tools and ongoing support to help grow their leagues. It's a hands-on, low-overhead opportunity in a fun, social niche with room to scale. Related: This Former Teacher Used to Worry About Layoffs Every Year — Now He Makes 5x His Old Salary and Works for Himself
Entrepreneur
19-05-2025
- Business
- Entrepreneur
She Went From Temp Job to Her Own $5 Million Moving Business
When Brooke Wilson graduated from college with a degree in graphic design, she imagined a future full of ad campaigns and client pitches. "I wanted to be a creative director at an advertising company," she says. "That was my goal." But first, she needed a paycheck. Just out of school and living in Durham, North Carolina, she took what she thought would be a temporary summer job with a local Two Men and a Truck franchise. Then something surprising happened. "I fell in love with the business," she says. "It was very dynamic; every day is different. You're solving problems and working with the staff and the customers — it was kind of exciting." That excitement grew into ambition. Wilson quickly rose through the company's ranks and, at just 23 years old, opened her own Two Men and a Truck franchise in Durham in 2017. But at first, success came at a steep cost. Related: Considering franchise ownership? Get started now to find your personalized list of franchises that match your lifestyle, interests and budget. The feedback that 'changed everything' As a first-time business owner, Wilson ran into a common problem: burnout. She tried to do everything herself, and often did. "I was working in the business from 7:30 in the morning until at least 7 at night, and then I had to be the owner of the business after that," she says. That meant doing the books, handling payroll and everything else that fell outside day-to-day operations. "I was wearing myself out." She wasn't just tired — she was stuck. Growth had stalled, and the business was showing signs of strain. Then she got an unexpected opportunity: MBA students at Duke University's Fuqua School of Business were looking for local companies to evaluate. Wilson agreed to let them dig into her business, but it wasn't easy. She had to open her books and have candid and frank conversations about how the business was running. Their assessment was blunt — and life-changing. "They said, 'You're holding your business back because you're trying to do it all,'" she recalls. "'You need to let go.'" The students advised her to hire people for bookkeeping, finance and human resources. "They said to find the things I'm really good at and delegate the rest," Wilson says. With that outside perspective, she began hiring and trusting others to lead. That single moment, she says, is what finally unlocked growth. "It was incredibly eye-opening," she says. "That feedback changed everything." Related: The Franchise Candidate You Should Think Twice About — And Why Learning to lead the right way Once she stepped back, Wilson's business stepped up. She added two more territories in the "Triangle" area of North Carolina, comprised of Durham, Raleigh and Chapel Hill, in the past five years, and today those franchises generate more than $5 million in annual revenue. Wilson credits her long-term success to the same thing that saved her from burnout: her staff. "If we focus on our people, then our people will focus on the customer side of things," she says. "The employees will take care of the business, and then the business will grow from there." When hiring, she looks for cultural fit first — not just ambition. "A lot of leaders think every hire needs to be someone who wants to climb the ladder," she says. "But there are people who just love their job and contribute in a meaningful way. They have just as much value to the organization." Two Men and a Truck brand president Randy Shacka, who started with the company as an intern in 2000, concurs. "Finding somebody that has that amazing attitude, that wants to be part of the team culture and fits with our purpose of moving people forward is what's most important to us," he says. "It's about finding the people that believe what we believe, first and foremost." Moreover, Shacka says 40% of the brand's franchise owners started in their home office, working on phones or working in the field on a truck. Related: How the IFA Plans to Strengthen the $800 Billion Franchise Industry in 2025 Content, but competitive As the Durham area has grown, so has Wilson's business, but she isn't rushing to expand for expansion's sake. "I wouldn't say I'm interested in buying more territories just to grow," she says. "But if the right opportunity came along, I'm always listening. That competitive nature is instilled in me." Wilson says she never saw herself as an entrepreneur, and that's why franchising worked. "There's a demonstrated brand and process. It's almost like a cut-and-paste template," she says. "It still needs to be customized by market, but it's a great way in." Her biggest advice for others looking to step into an unexpected opportunity? "Be open and always take care of your employees. Because the employee is the backbone of any company." Related: How Shaq Is Bringing Fun Back to Papa Johns
Forbes
15-05-2025
- Business
- Forbes
How To Start Your $2,000/Month Side Job As A Teen
Teen entrepreneurs are transforming simple ideas into profitable side jobs that outperform traditional summer jobs. While the average teen summer worker earns $15.68 per hour, up 36% since 2019, ambitious high schoolers are creating businesses that generate $2,000 monthly while offering flexibility, higher profits, and valuable experience for college applications. This entrepreneurial trend is growing rapidly. According to recent surveys, 66% of teens aged 13-17 say they're likely to consider starting a business as adults. At WIT (Whatever It Takes), we have guided over 10,000 young entrepreneurs since 2009, watching them turn passion projects into profitable ventures. These early business experiences build skills that translate directly to future success—teens with entrepreneurial experience develop resilience, problem-solving abilities, and financial literacy that serve them throughout life. Starting a side hustle gives teens significant advantages over traditional employment. First, there's no income ceiling. While conventional jobs cap earning potential at hourly minimums, business ownership removes this limitation entirely. Many WIT students have transformed small investments of $100-200 into businesses generating thousands in revenue. Equally important is the scheduling flexibility. Traditional summer jobs lock teens into rigid 20-40 hour workweeks with little room for adjustment. Entrepreneurship eliminates this constraint, allowing teens to design work schedules that complement rather than compete with academics, sports, and other priorities. College admissions officers increasingly value entrepreneurial experience. A teen who can articulate how they identified an opportunity, navigated challenges, and created something valuable stands apart in competitive admissions. Julia Howe exemplifies this potential. She created the Hitting The Wall podcast, which is focused on teenage female athletes and addresses mental health struggles and societal pressures young women face in sports. Her experience developing the podcast, reaching out to guests, coordinating community events, organizing paid partnership deals, and managing social media has built a platform that helps others and strengthens her college applications through demonstrating leadership and initiative. Most small businesses know they need social media content but lack the time or skills to create it. Teens with digital fluency can effectively fill this gap. To start, build a simple portfolio showcasing your video editing or graphic design skills. Select a specific niche—coffee shops, boutiques, fitness studios—and approach businesses with a concrete offer: "I'll create eight short-form videos for your social media for $300-400." Your competitive edge? Offer to handle everything: filming, editing, adding trending music, and writing captions. This comprehensive service appeals to busy business owners who know social media matters but don't have time to learn the platforms. Path to $2,000: Landing five to seven clients monthly at $300-400 each gets you to your target. This side job's scalable nature makes it particularly attractive—you can manage multiple clients simultaneously as your efficiency improves. Academic support remains in high demand year-round, and parents are willing to pay premium rates for quality assistance. Rather than generic tutoring, focus on specific needs: SAT/ACT prep, coding instruction, essay writing support, or math skill development. Specialization justifies higher rates and attracts more motivated clients. Create a simple website highlighting your qualifications, subjects, and hourly rate, then distribute your information to neighborhood families and local parent groups on social media. Path to $2,000: Charging $30-50 hourly and securing 10-15 weekly tutoring hours puts this goal within reach. The advantage of a tutoring side job is minimal overhead—just transportation costs and possibly workbooks or online resources. This translates to high profit margins, with almost all revenue becoming profit. Selling handmade or personalized products can be financially rewarding and artistically fulfilling for creative teens. Choose one specific product type—custom tumblers, digital illustrations, handmade jewelry, or personalized apparel. Initially, focus on quality and consistency rather than variety. Establish a dedicated Instagram account showcasing your process and finished products, and leverage local summer markets, craft fairs, and online platforms like Etsy or Depop to reach customers. Path to $2,000: Calculate your costs precisely. If each item costs $8 to produce and sells for $25, you must sell approximately 120 units monthly to reach $2,000. While this sounds substantial, focused production sessions and strategic marketing can make it achievable. Creating digital products offers exceptional scalability with minimal ongoing costs after initial development. Consider developing downloadable templates, study guides, printable artwork, or digital planners targeted at specific audiences. For example, one WIT student created custom study guides for AP courses, charging $75 per guide and focusing on five subjects she knew well. Path to $2,000: With minimal production costs, most of your sales become profit. Depending on complexity, pricing digital products between $15 and $80 means selling 25-135 units monthly. The key advantage is creating once and selling infinitely—your income isn't directly tied to your time investment after the initial creation. Service-based businesses like pet sitting, lawn care, or car detailing provide reliable income with low startup costs. Summer is peak travel season, creating high demand for pet care. Create a simple one-page business plan outlining services and rates. Advertise on neighborhood apps like Nextdoor and leverage family connections for initial clients. Charge $25-30 per day for dog walking (two 30-minute walks) and $50-75 daily for overnight pet sitting. Adding premium services like plant watering or daily photo updates can increase rates. Path to $2,000: Securing 5-6 regular dog walking clients (at $150/week each) plus weekend pet-sitting gigs ($300/weekend) puts $2,000 monthly within reach. The key advantage is the recurring nature of these services—once you prove reliable, clients tend to book repeatedly. Before launching any business, teen entrepreneurs should ask themselves these critical questions: What problem am I genuinely passionate about solving? The best teen side jobs start with real interests rather than what might impress college admissions officers. Genuine interest helps teens continue when challenges emerge—a critical skill since colleges increasingly value resilience and initiative in admissions decisions. What skills do I already have, and which ones will I need to develop? Young entrepreneurs often underestimate their existing talents. List your current abilities, then identify what you still need to learn. The entrepreneurial process itself teaches many necessary skills. How will this fit into my current commitments? To prevent burnout before launching your side job, create a realistic schedule with specific times for business work. Who can support and guide me through this process? Every entrepreneur needs advisors. Before starting, find potential mentors who can help navigate challenges. Organizations like WIT and entrepreneurship competitions connect teens with experienced business owners who offer valuable ideas. What does success look like to me, beyond money? Financial returns matter, but focusing only on profits often disappoints teen entrepreneurs. Define personal success measures that match your values, whether building leadership abilities, gaining confidence, or creating positive change. The difference between teens who talk about making $2,000 monthly and those who earn it comes down to execution. Here are the practical implementation steps that successful teen entrepreneurs consistently follow: Start with a minimal viable product (MVP) - Rather than perfecting your offering, launch a basic version quickly to test market response. For lawn care, start with just mowing before adding edging and landscaping. For content creation, offer a single-video package before developing comprehensive plans. Implement consistent marketing blocks - Dedicate 30-60 minutes daily to promoting your services. This might mean sending five direct messages to potential clients, posting on community boards, or creating content showcasing your work. Consistency matters more than duration. Develop systems immediately. From day one, create simple templates for client communication, scheduling, and payment tracking. These systems allow you to scale efficiently as demand grows. Use technology strategically - AI tools can help with everything from content creation to market research. ChatGPT can help draft professional emails, create social media captions, or develop pricing strategies. Tools like Canva simplify design work, while simple spreadsheets track finances and customer information. Schedule weekly implementation sessions - Set specific times to work on growth initiatives. Even 30 minutes twice weekly can drive substantial progress when focused on the right activities. Limited startup funds - Begin with service-based businesses requiring minimal investment, or use the "pre-sale" model where customers pay before you create products. One WIT student funded her custom apparel business by pre-selling designs before ordering materials. Parental concerns - Address worries by creating a simple business plan showing how you'll manage commitments. Outline safety measures for meeting clients and handling money. Involve parents as advisors where appropriate. Pricing confidence - Research competitors but avoid underpricing. Remember that reliability, quality, and personal service justify premium rates. Client acquisition - Start with your immediate network—family, friends, neighbors, and school connections. Ask satisfied customers for referrals and testimonials. Offer incentives for referrals that convert to paid clients. The entrepreneurial journey doesn't require perfect preparation or extensive funding. The most essential step is to begin with available resources and refine your approach through experience. By solving real problems, maintaining quality service, and building genuine customer relationships, teens (and even adults!) can transform simple ideas into profitable side jobs $2,000 monthly or more. The skills developed along the way—resilience, financial literacy, marketing, and problem-solving—provide lasting benefits beyond monetary gain, creating advantages in college admissions and future careers. The most important step isn't perfecting your business plan—it's taking that first action toward bringing your idea to life.
Entrepreneur
08-05-2025
- Business
- Entrepreneur
Why Buying a Retiring Business Is the Smartest Move for Young Entrepreneurs
Boomer-owned businesses tend to be in better financial and operational shape than others; the longer it's been in operation, the better its track record. Opinions expressed by Entrepreneur contributors are their own. An upheaval is reshaping the small business landscape, but contrary to popular belief, it's not necessarily a destructive force — it could be your golden opportunity. Financial experts are calling it the "silver tsunami": the wave of small business ownership transfers triggered by the retirement of the Baby Boomer generation, who currently own 30 percent of the nation's nearly 35 million small businesses, according to Guidant Financial and the U.S. Small Business Administration, respectively. For younger entrepreneurs, this could be a game-changer. With Baby Boomers retiring at an accelerating pace, now is the ideal time for Gen-Xers and Millennials to step into business ownership — if they're prepared to navigate the unique dynamics of buying a company from a retiring generation. Related: Baby Boomer Businesses Are Up for Grabs — Here's How Entrepreneurs Can Benefit In 2025 Why should you buy from a Baby Boomer? Let's break it down with hard numbers. Fewer than 15 percent of boomer companies are passed on to the family's next generation, according to Project Equity, a non-profit employee advocacy group. The rest? They're up for grabs. Often, the reason isn't that the business is struggling. In fact, Boomers tend to run businesses that are more financially stable and operationally sound than others. Their companies have survived economic downturns, evolving markets and changing technologies, and many have grown stronger because of it. For prospective buyers, this means more stability and less risk. But that doesn't mean you can skip the due diligence process. As always, carefully vet any business you're considering purchasing. However, compared to other businesses, those owned by Baby Boomers tend to have a better track record, especially as they're generally more seasoned and experienced. The challenges of buying from a Boomer Despite the clear advantages, buying a business from a Baby Boomer comes with its own set of challenges. For many, selling a company they founded feels like giving up a child. If the owner is the sole decision-maker, their departure could leave a leadership vacuum that makes the transition challenging. It's crucial to assess whether the company is prepared for leadership succession and whether there are any gaps in the management team. Additionally, many Boomer-owned businesses may rely on outdated technology. While some owners are tech-savvy, others have resisted upgrading their systems. This presents an opportunity for the buyer to modernize and grow the business using newer tools, including AI, digital marketing and automation. If you're comfortable with technology, this gap is your chance to gain an edge. Another consideration: while this emotional attachment can complicate the transition, the right buyer might actually find that it clears the way for a smoother exit. If the owner's children aren't interested in taking over, the business may not carry the same emotional weight. For instance, a medical device company that transitioned from family ownership to a third-party buyer saw an 87% increase in valuation just 18 months after the sale. Related: Want to Start a Business? Consider Buying One Instead — Here's Why. Key considerations before you dive in 1. Get expert guidance You'll need a seasoned business broker who specializes in your industry. Look for one with experience, credentials, and transparency in both their process and fees. Additionally, enlist the help of an experienced CPA to scrutinize the business's financials and ensure there are no surprises post-sale. A smart, well-negotiated deal could give you the leverage you need to succeed from day one. 2. Evaluate company culture If the team is close to retirement or the business has long-term employees, you may face the challenge of retention. Consider offering incentives to retain key staff, especially if the owner's departure could create unrest among loyal employees. Also, evaluate whether the company's culture aligns with your vision for growth and innovation. 3. Negotiate a transition period One of the best ways to ensure a smooth transition is by negotiating a transition period where the previous owner stays on for several months. During this time, they can train you, introduce you to key vendors and customers, and help you integrate into the community. This is especially important if the owner has strong local connections or a reputation that could give your business an initial boost. Be sure to include this transition period in your purchase agreement. Turning a legacy into your own Though you may encounter comments like, "The old owners never did this," buying a Boomer-owned business can set you up for success in ways that starting from scratch never will. The silver tsunami isn't just a wave to watch from the shore — it's a massive opportunity for those ready to ride it. Acquiring a business with an established customer base, track record, and reputation allows you to build on a solid foundation. Instead of re-inventing the wheel, you can leverage years of experience and industry connections to grow and innovate. And with the right adjustments — whether it's streamlining operations, upgrading tech, or enhancing company culture — you can leave your own mark on the legacy and build your own. Now, more than ever, Baby Boomer retirees are opening the door for the next generation of entrepreneurs. If you act strategically, the silver tsunami could help you build your own legacy, with the lessons and opportunities of the past firmly in your corner.
