What Does It Take to Retire?

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they record from the Bahamas, chilling and relaxing while discussing how to help Baby Boomers understand what it takes to retire; for that, they bring the tales from the experience of Transworld Business Advisor's best franchisees. Listing of the week: JT Tatem is selling a signage business that has been running for over ten years; it is a great owner-operating model. The company makes almost $2 million in annual revenue, and nearly $300,000 is SDE. It is listed at $975,000. The business has a great location and a fantastic reputation and brand! Call JT at (864) 315-8998 or email at [email protected]. Key takeaways: [3:12] Seventy-five trillion dollars will be transferred from Baby Boomers to the Xers and the Millennials. [5:32] In the next 5 to 10 years, all Baby Boomers will have to retire, and these businesses will have to be sold or transferred. [7:26] Many Gen Xers and Millennials want to buy a business. [7:42] Baby Boomers, be aware it might get harder to sell your business. [9:40] Get prepared; it takes time to sell your business. [14:19] Aaron Fox (Boston) shares a very personal story. [17:02] First, any seller should know why he is selling. [18:30] Michael Berry (Indiana) shares a retirement story with the audience. [20:03] Bill Kleinschrodt (Gold Coast, Alabama) tells the story of selling for retirement. [23:41] Bob Kelliher (Central and Western Washington) shares a story about someone he helped retire. [27:08] Deal of the week: Blake Hickman (Raleigh) sold a $2.3 million e-commerce tactical gear business. [29:11] Jennifer Fox (Boston) brings a couple of successful retirement stories. [32:05] Johanne Sharp Sermania (Philadelphia Mainline) shares on a recent closing that helped clients retire. [34:47] Jonathan Choe (Oregon Central) talks about retirement. [38:00] Nick Mastrodicasa (Alaska) talks about how he helps people retire. [40:06] Rupesh Bharad (Virginia) shares his favorite retirement story so far. [43:23] Tony Khoury (Eastern North Carolina) shares a story about someone who thought his business was worth nothing. [45:50] Listing of the week: JT Tatem is selling a signage business that has been running for over ten years; it is a great owner-operating model. The company makes almost $2 million in annual revenue, and nearly $300,000 is SDE. It is listed at $975,000. Mentioned in this Episode: The Deal Board Podcast Subscribe to The Deal Board Podcast YouTube Channel United Franchise Group Transworld Business Advisors Transworld on Linkedin Transworld on Facebook Call us — (888) 719-9098 Email us [email protected] Call Aaron Fox at (781) 773- 8922 or email [email protected] Email Michael Berry at [email protected] or call (317) 564-4777. Call Bill Kleinschrodt at (251)237-1030. Call Bob Kelliher at (509) 558-7150 or email [email protected] Call Blake Hickman at (919) 578-6360 or email him at [email protected] Call Jennifer Fox at (978) 286-8922 or email [email protected] Call Johanne Sharp Sermania at (610) 783-3555 or email [email protected] Call Jonathan Choe at (541) 213-0234 or email him at [email protected] Call Nick Mastrodicasa at (907) 529-2403 or email him at [email protected] Call Rupesh Bharad at (804) 835-6363 or email him at [email protected] Call Tony Khoury at (252) 347-9606 or email him at [email protected] Call JT Tatem at (864) 315-8998 or email at [email protected]