Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

No Time like Now to Devise a Game Plan; Baby Boomers ... Do You Have an Exit Strategy?

Newspaper article Sunshine Coast Daily (Maroochydore, Australia)

No Time like Now to Devise a Game Plan; Baby Boomers ... Do You Have an Exit Strategy?

Article excerpt

CAN you hear the rumble in the distance? That is the baby boomers. They are getting ready to hitch on the caravan and hit the road to freedom.

Australia has 5.5 million baby boomers and they own 80% of financial assets, control more than 50% of consumer discretionary spend, consume 77% of prescription drugs and spend 80% of the leisure travel dollar.

Unlike previous generations, baby boomers are looking forward to a longer, more active retirement, which will require more money.

This is compounded by better health standards and resultant longer life expectancy post retirement.

If you are the baby boomer in business and hoping to sell in the coming years, will you be selling into a market already saturated with businesses of similar types?

If so, you have even more reason to plan to take into account this situation.

With careful planning and a good exit strategy you can make your business more attractive to a purchaser, giving you the edge in the marketplace.

Ten years ago, succession planning was much talked about and, while topical, no one really did much about it: the economy was hot, retirement was off in the distance and the baby boomers were in their prime.

Fast forward and things have changed. …

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