Not every entrepreneur starts their own business from scratch, some see a really great business being sold and take advantage of the opportunity to take it over and grow it to even a larger scale. The next 5-10 years, we’re going to see a lot of these acquisitions take place.
Approximately 57% of all business owners in America are baby boomers, and it’s getting to that time in which they no longer are able to or want to run their business. In fact, around 10,000 of these baby boomers are retiring a day for the next six or so years. So what does this mean for the young entrepreneur? It’s time to pay attention to these businesses that are being sold and seeing if any fit your needs and interests so much that you’d like to take it over.
This may seem like a huge step to take for a fresh face in the business world, but it’s one of the best opportunities out there. Acquiring a company that is already successful without having to go through the start-up process is a very attractive offer. Luckily, it’s even easier to do with the use of the SBA 7(a) loan, a program in which we specialize.
One of the main things our SBA 7(a) loan program is utilized for is business acquisitions. We fund these deals regular and have a highly experienced team waiting to help you begin the path of owning your own business. You’ll definitely want to take advantage of the opportunity while it lasts.