An aspiring buyer with $100,000 in savings recently asked Reddit’s r/smallbusiness community, “What are the best ‘boring’ businesses to buy from retiring boomers?” They said they were eyeing a $200,000 business where seller financing could cover the rest.
The responses poured in, and the most recommended business types had one thing in common: they’re stable, not flashy.
“Laundromats in college towns or near apartment complexes do quite well,” one commenter wrote. Another chimed in: “Right up my alley. Every business I’ve ever bought was from a boomer.” They recommended buying established fast-casual restaurants. “If they’ve been around for over 15 years you’re almost guaranteed success. Stay away from full service.”
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Car washes, especially automated ones, also got plenty of love. Liquor stores were mentioned too, but with a warning: they only work well in states with flexible liquor laws. “If you’re in California, do it. If you’re in Alabama, don’t,” one experienced buyer noted.
Some looked to more niche but proven paths. “Bought a ballroom dance studio with a partner for this amount back at the end of 2021. It’s a niche market … and overall it is a cash cow,” one person shared. Others suggested bridal stores, storage units, even yacht charter operations—provided the inefficiencies could be cleaned up.
The romanticized idea of buying a business from a retiring boomer got a reality check. Many warned that what looks like a turnkey operation may actually be a mess under the hood.
“40 year old business, financials are sh*t because the seller is 83 years old and didn’t know what [customer relationship management] is,” one buyer shared about their custom woodworking shop purchase. “But lots of upside. Time will tell. Ask me again in 6 months.”
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Tariffs, outdated tech, and owner-dependent operations were also common pain points. “You might be buying the headache and whatever the equipment is worth,” one commenter responded.
Business brokers joined the discussion to offer clarity. “Do not focus on popular business industries,” one wrote. “The right opportunities are the ones that match your interests, experience, skills, location, and budget.”
The original poster was hoping for a deal where the seller would finance half. Several people pointed out that seller financing isn’t as common as it sounds on social media. “In the U.S., sellers prefer buyers with [Small Business Administration] loans because they can receive 80-100% of the purchase price at closing,” the business broker explained.
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That means with $100,000 down, a buyer could potentially go after businesses worth up to $1 million using a mix of SBA loans and seller notes. But the reality is more competitive than many realize.
A few veterans of the small business scene gave OP a friendly dose of realism. “You are not going to find a stable 100K profit business for your 100K down, 100K loan,” one person warned. “That only happens in TikTok fantasy stories.”
Still, others offered encouragement. “My friend who purchases businesses from 60+ owners looks for poorly run but profitable businesses that he can go in and clean up,” one person said. “Usually takes him about a year to get them up to speed, then he moves onto the next business.”
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This article A Potential Investor Reached Out To Small Business Owners Asking, ‘What Are The Best ‘Boring’ Businesses To Buy From Retiring Boomers?’ originally appeared on Benzinga.com
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