It had to happen – the defining cohort of society for the past 50 years are coming near the time when they want to get out and sell their printing businesses.
Around 1200 commercial printing companies in Australia are owned by baby boomers over 55 years of age. Depending on your definition of commercial printer this represents 60% of the industry.
The crush through the exit doors is only going to get tougher with few potential buyers interested n taking on extra equipment. Customer lists have become the sole value in many printing businesses with the added challenge of maintaining loyalty when sold.
According to Richard Rasmussen, director of industry analyst, Ascent Partners, (pictured) it’s not all just about selling the business. Many ownership transitions are unlikely to be wholly voluntary, with owners falling foul of sickness or dispute.
"The majority of owners don’t know what their business is really worth, and they don’t have a transition or succession plan. Understanding where they are now, where they need to be, and the possible options to get there are paramount to a successful final outcome,” he said.
Rasmussen is hosting a Printing Industries' webinar on addressing the challenges facing those who want to get out with a little more than their shirts. The 30-minute webinar at 1pm (AEST) on Wednesday 18 March will examine the best ways of handling both voluntary and involuntary transitions.
It will look at:
- The voluntary and involuntary transition / succession alternatives.
- What’s your business worth now, and what will it be worth on exit?
- How to identify and clearly articulate your needs.
- Formulating a plan covering your business and personal goals.
- Implementation and monitoring.
The webinar will present 30 minutes of information that every business owner needs to understand, regardless of where they see their business sitting today. Followed by a 15 minute Q&A session it might enable a few more printers to ride off into the sunset with heavier saddlebags.