13 Mar Veteran Business Buyers
Veterans taking small business market by storm and earning more than the average Vet
It’s no secret that U.S. military veterans are a force to be reckoned with in the small business economy. But according to the latest study from BizBuySell, both older and younger veterans are emerging as major players in the buying of small companies and are shaping the business-for-sale market.
One of the trends the survey revealed is that a surprisingly large number of veterans are shopping for small businesses. According to BizBuySell’s study, 13 percent of prospective small business buyers listed themselves as veterans.
But who are these veterans? And how do they compare to other buyers on the market?
Here are some findings from the study that shed light on who these veterans are and how they compare to other buyers on the market:
- Veterans buying a small business are making far more than average, as just 14 percent of veterans buying a small business listed a household income under $50,000
- Today’s veteran business buyers are more recent military personnel. Just 22 percent of surveyed veteran buyers were 65 and older, with 30 percent of buyers found in the 30-49 year-old
- Younger veterans want to buy and expand their businesses rather than sell – 25 percent of veterans buying a business already owned at least one other business and were trying to expand