Small businesses employ 62 million Americans and generate nearly half of US GDP. But as boomers retire by the millions — and their kids aren’t interested in taking over the family business — most face the same two exits. They can shutter a business they spent their life building or sell to private equity — a move which typically means slashed staff, jacked prices, and an owner who’s never set foot in the town.
William Fry, who launched American Operator late last year, is trying to offer a fresh alternative.
His Austin-based firm helps operators — typically a longtime employee or industry veteran — co-purchase retiring owners’ businesses. With AO’s help, the operators starts with 10% equity and a clear path to 70% majority ownership. Meanwhile, the seller gets their liquidity event and the business stays local.
New York Post reporter Lydia Moynihan brings us this story.
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