💰 Why retiring boomers means opportunity for you

Happy Trends Tuesday!

Today we’ve got:

• 1 trend alert
• 1 piece of operator wisdom
• 1 startup you should know about

Before getting into it, we’ve got one small ask. Please take this 1-minute survey to help us make this newsletter better.

Alright, let’s jump in.

🚨 TREND ALERT

Fun fact – boomers own nearly half the private businesses in the US (~2.3m companies).

Why does this matter to you?

An estimated ~10k boomers hit retirement age every day.

Many don’t have anyone to pass the family business on to, and close their doors.

You can help them preserve their legacies via…

1. Business-For-Sale Platforms: BizBuySell gets ~2.6m visits/mo and more niche options like Acquire are growing quickly. Many boomers don’t know how to capitalize on them. Build a consulting service to help them out, or launch a new platform that caters specifically to this audience.
   
   
2. Family Legacy Summit: Straight from My First Million, start an event designed to teach boomer entrepreneurs how to pass on their businesses. Monetize by offering upsell services like accounting or by selling leads to private equity (which can be valued at $25k-$100k+ depending on the size of the company).
   
   
3. Buy ‘Em Yourself: Acquire great businesses, install an operator, and continue running and growing them. Several Trends members have taken this path including Codie Sanchez and Matthew Rescott (see below).

💻 DIY DIGITAL MARKETING

🧠 OPERATOR WISDOM

Trends member Matthew Rescott recently bought a business doing ~$600k in revenue (~100k profit), and he put just $20k down.

How'd he do it?

First, he used local Facebook groups to find an acquisition target. Here’s the post that landed him 30 leads, including the business he ended up buying.

After running due diligence, Matthew set his eyes on a deal with a final price of $240k. To make it happen, he set out to find financing.

With the seller in a hurry, SBA wasn’t an option. No shortcuts or hacks here: Matthew kept reaching out to lenders until eventually (after ~30 lenders) he was able to get it done. The final deal was structured like this:

• $20k down
• $120k bank loan
• $100k seller note

Matthew’s takeaway? “The rules in lending are a lot more gray than you would expect.” He says he just had to meet the lenders in person and prove his business proficiency to get them on board.

🔥 STARTUPS YOU SHOULD KNOW ABOUT

Systemic health disparities in the US are far-reaching and impact a wide range of medical fields, including maternal health, obesity, and LGBTQ+ care.

Startups have sprung up across specialties to develop solutions for patients previously overlooked, underserved, or misunderstood.

Check out four startups using tech to solve these disparities on The Hustle blog.

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