Who Will Lead Your Company?

Who Will Lead Your Company?

April 3, 2017

The amount of calls we get from business owners ready to retire are increasing. These business owners are looking to sell their business that they’ve built from the ground up. 

Over the years, a good woodworker started a business, demand for products increased, and before you knew it they had 35-40 employees and life was good. 

Fast forward 25-30 years: now that same enthusiastic woodworker is 65-70 years of age and ready to start enjoying "the golden years." The big question is, “Who is interested in buying their business and realistically what is it worth?”  

The main problem in many cases is that the owners and management team are running the business, and have done so for years. Many times there is very little equity in the facility and in the equipment.

Often there have been lean years where the company made little, if any, profit. 

It seems that fewer and fewer companies have younger family members interested in taking over management of the business. It is often sad that something that provided so well for so many years must eventually be sold. 

The WPMA works with a few organizations that have experience finding buyers to help companies that do not have family interested in taking over the company. This helps our members on their path to retirement.

Additionally, we have connections to help a successful firm that might be experiencing cash flow issues due to the new economy where net 90 days is the new 30. 

Our mission is to help companies compete in a global economy, even if that competition means transitioning their business to another firm. For more information on this companies may contact Philip Bibeau, Executive Director, at 978-874-5445.