Success in America has long been embedded with the idea that governing oneself is of vital importance. The Baby Boomer generation has embraced this idea with a large percentage of entrepreneurs. In fact, 40% of all small businesses in the US are owned by Baby Boomers.
They own things like retail stores, restaurants, business and residential services, and construction/contractor businesses. The majority of these businesses are profitable and many of them have been established for more than a decade.
Americans rely heavily on these businesses for millions of jobs, including vendors whose goods and services are used by these companies. Boomer businesses are part of the backbone of our economy, but there is a concern.
As Baby Boomers begin to age out of the workforce, many of them have no succession plans in place. Their children often don’t want to inherit the family business as they have many other paths available to them.
However, one thing that younger generations are overlooking is that these businesses are goldmines for success. Millennials and Gen Z’s will inherit massive purchasing power in the coming years. They would do well to consider a Boomer business as a rich investment opportunity.
Baby Boomer businesses are already successful and in full operation. They’re a ready made entrepreneurial enterprise that offer prosperity as well as the freedom to engage in other pursuits.
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