Boring Baby Boomer Business

Primary Concept: Business Succession Platform

A digital platform designed to facilitate the transition of businesses from retiring Baby Boomer owners to new operators.

Problem it will solve:

1. Many Baby Boomer business owners struggle to find suitable successors for their life's work, risking the loss of valuable businesses and jobs in their communities. Without proper succession planning, these businesses face closure, leading to economic disruption and loss of local services. Additionally, potential young entrepreneurs often lack the capital and experience to take over established businesses, creating a gap between retiring owners and capable successors.
2. Young people have unique knowledge and perspective to lift up the business that the old owner does not have. They have the energy to work on it and the appetite to take risks at their age.
3. Old people want less work, stress, and more free time traveling with their kids/family (business is just a burden).

Key Features:

• Matchmaking system between retiring business owners and potential successors
• Digital tools for business valuation and transition planning
• Built-in mentorship programs to ensure knowledge transfer
  • Create a consulting marketplace where retired business owners can monetize their expertise through part-time advisory roles
• Integration with legal and financial advisory services
  • offer unique ways to finance the business over time with zero risk
• Smart matching algorithm based on industry expertise and business goals
• renew old business and implementing digitalization, marketing and subscription → a premade template that we can just put on top of their business

Thoughts of how Business takeover would look like

• The business owner themselves is the most likely person who will fund the business and invest in it; that's why they will be ready to accept payout over years and accept the innovative help of the new business owner
• new business owner will invest in the business (a small amount and pay the rest over time off)
  • They will pay for taking over the business (exit) over the next 5-7 years
  • they will present their business plan (old business owner stays board member and acts as mentor if they want)
  • The Business is the security for that loan (the money that they would need to pay over 5-7 years). If they fail and can't make it work, the old business owner will keep the business and everything they invested in it.
    • They can retire and still are part of company and get paid 120k every year as part of the exit agreement

Reason for choosing idea

• unique market where there is low to no competition; we can be pioneers.
  • combining extreme worlds (old vs young)
• 65% of all value of all business equity in the economy is owned by baby boomers right now
  • 65% chance to hit a baby boomer business at random