This isn't just a case of young folks not wanting to work long hours. One huge issue is that when these businesses began, the startup costs were significantly less. Many were new, not rollovers, and did not have a seller's note attached.
Now, a new buyer would have to pay off the note to the seller on top of all their operating costs. Too often, it's just not possible.
Our Community just shut down their bus system today because drivers are ill........schools can’t find school bus drivers either. A local dollar store couldn’t open because not enough employees.
“Now, a new buyer would have to pay off the note to the seller on top of all their operating costs. Too often, it’s just not possible.”
Both practices offered a land contract style arrangement that was near dirt cheap. No takers. Both retiring doctors did not need the money but wanted the business they started to continue. Their legacy.
A girl worked for my wife for 5-6 years while,in HS and college. She graduated from vet school. My wife tried to get her on board as a owner or part owner. She said she did not want the hassles of being an owner and was satisfied with being an employee.