What Buyers are Buying: Boring Businesses

Transcript

Andy and JT welcome you to another episode of The Deal Board Podcast. This week, they explore the surge of Millennials and Gen Z buying “boring” small businesses (such as sawmills, packaging companies, and HVAC services) as Baby Boomers retire and sell their long-held enterprises. They discuss the shift in generational ownership, the appeal of steady cash-flowing businesses over startups, and how younger buyers are using technology to modernize legacy operations. The conversation also covers the importance of relationship-building during business transitions and debunks common myths around “no-money-down” deals. Tune in to learn how this generational shift is reshaping the business-for-sale landscape (and how you can get in on the action)!

Listing of the Week:

Taylor Bombardiere presents a rare opportunity to acquire a thriving specialty retail business just 30 to 40 minutes outside of downtown Denver. This established business features two high-performing divisions: one focused on fine jewelry and the other on antique and premium firearms. Generating $357,000 in annual cash flow, it’s listed at $1.2 million, with the real estate also available for $1.8 million. With little to no competition within a 10-mile radius and a prime high-traffic location, the business enjoys strong community support and a reputation for excellence. For more information, contact Taylor at (303) 519-7578 or [email protected].

Deal of the Week:

Jenn Armstrong and Philip Handke celebrate the successful sale of a nail salon in Scottsdale, Arizona, Phil’s second nail salon deal in just six months. This back-to-back success highlights the strong demand for well-run, service-based businesses in the Phoenix metro area. While the sale prices remain undisclosed, this latest deal showcases Transworld’s ability to match quality first-time buyers with thriving local businesses. To learn more, contact Phil at (480) 390-7916, [email protected], or find him on LinkedIn!

Key Takeaways

• [00:45] How Boomers are flooding the market with small businesses for sale as they retire.
• [03:28] Why Millennials and Gen Z are stepping up as buyers in record numbers.
• [06:52] The shift from startup culture to buying boring businesses for cash flow and stability.
• [08:09] Misconceptions about “zero money down” deals and seller financing.
• [08:59] Buying an existing business versus launching a new one.
• [09:25] The scalability and tech-savviness younger buyers bring to legacy operations.
• [11:30] Why successful deals depend on strong relationships between buyer and seller.
• [14:19] Reasons that sellers are more likely to choose prepared, personable buyers.
• [19:12] The importance of being picky about who you take business-buying advice from.
• [20:46] Real-world examples of boring businesses for sale, from sawmills to spray foam, towing, medical supplies, recycling, and more!
• [27:55] Listing of the Week: Taylor Bombardiere (Transworld Dallas Fort Worth Central) is selling a specialty retail biz near Denver, offering fine jewelry, collectible firearms, and optional real estate.
• [29:27] Deal of the Week: Jenn Armstrong and Philip Handke (Transworld Phoenix) celebrate the sale of Phil’s second nail salon deal in just six months!

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Quotes:

“[Millennials] are coming into the market fast and furious, saying, ‘What can I acquire? [Where] can I start?’ But there’s a whole wave of education online that says, don’t start [from scratch]. Buy a cash-flowing business, a boring cash-flowing business.” — JT Tatem [0:03:14]

“[Buying] a business is a much less risky proposition than starting a new business and maybe even getting a job.” — Andy Cagnetta [0:09:04]

“[Interact with the seller] face to face, have a conversation, shake their hand. – There are businesses that get sold sight unseen, – [but] most businesses, you don’t buy that way.” — JT Tatem [0:12:41]

“There’s tons of boring businesses out there that you can buy.” — Andy Cagnetta [0:25:49]

Mentioned in This Episode

• The Deal Board Podcast
• Subscribe to The Deal Board Podcast YouTube Channel
• The Deal Board on Instagram
• The Deal Board on LinkedIn
• Transworld Business Advisors
• Transworld Business Advisors on LinkedIn
• Transworld Business Advisors on Facebook
• United Franchise Group
• Andy Cagnetta
• JT Tatem
• Forrester’s ‘The State Of Business Buying, 2024’ Report
• BizBuySell Insight Report
• ‘Making It Work: In Search of a Boring Business’
• Taylor Bombardiere
• Jenn Armstrong
• Philip Handke
• Philip Handke on LinkedIn