Target Retiring Business Owners

The speakers discuss finding and acquiring family-owned businesses from retiring owners, particularly through networking and personal connections. The opportunity lies in connecting with business owners looking to exit but whose children don't want to take over the business.

Key Points:

• Acquisition Sources:

  • Connect through "friend of a friend" networks
  • Meet potential sellers through golf course connections
  • Target someone's dad/grandfather who wants to retire
  • Find family businesses where kids don't want to inherit

• Current Challenges:

  • Hard to find these opportunities
  • No central marketplace exists
  • Deals happen through personal connections
  • Often requires meeting "through a friend of a friend"

• Business Types:

  • Boring but profitable businesses
  • Examples mentioned:
    • Air ambulance services
    • Delis and bakeries
    • Restaurants

• Opportunity:

  • Could leverage podcast audience to source deals
  • Potential to create a marketplace or database
  • Many business owners looking to exit
  • Opportunity for minority stakes or full acquisitions

The speakers note this is an inefficient market with lots of opportunity, but currently lacks organization and structure for connecting buyers and sellers effectively.