Doug Snodderly’s family has owned and operated Century Supply for 42 years. While the business is solid, the family wanted to pass the business along to someone who could breathe new life into it. “We know there is opportunity to modernize our business model,” said Snodderly. “This business is ideal for someone who has been in the construction industry and wants to be an entrepreneur without starting from scratch.“
The Center for Entrepreneurship (CFE) realizes that Snodderly’s circumstance is shared by many families in northwest Missouri. Statistics bear this out; more than 55% of all business owners are over the age of 55 according to census.gov.
“Small business is integral to our region. When the data shows that less than one third of family-owned businesses succeed into the second generation, and just 10 percent survive into the third, we see business transference as a top priority,” said Annette Weeks, Director of the Center for Entrepreneurship. “Sustaining a longtime successful business is critical to our communities.”
That’s why the Center has created a Business Opportunities webpage. It serves as a way to help connect established businesses with potential entrepreneurs. It is also a place for business owners who are ready to retire or sell their businesses to post information.
Hazel’s Coffee Company is one of many that are currently posted on the Business Opportunities page. It is a well-established coffee shop and roastery in a great location. Owner, Heather Thompson said “This business has excellent growth potential. We are looking for someone who wants to grow the business even further.”
In addition to providing information to potential buyers, the Center for Entrepreneurship provides free assistance to owners in the process of putting their small business up for sale. The Business Opportunities page, located on the Craig School of Business’ CFE website, allows entrepreneurs to connect with existing opportunities, and potentially keep longtime businesses open and thriving.