Important Business Trends Happening in 2024

Join Andy Cagnetta, CEO of Transworld, as he shares his extensive experience in commercial real estate and business sales. In this episode, Andy reflects on the market changes from 2019 to 2023 and provides his predictions for 2024, including the challenges posed by interest rates and the unprecedented buying power of private equity firms. He discusses the importance of timing in selling a business, the value of preparing for the sale of a business, and the upcoming wealth transfer from Baby Boomers to younger generations.

Key Points

[0:50] A little bit about Andy and what he does at Transworld.

[2:30] In 2023, everyone felt a little bit beat up by interest rates, slow business, and more.

[5:00] Private equity firms have the most buying power than they've ever had in history right now.

[6:40] Let's do a high-level recap on what was happening in the market from 2019-2023.

[7:40] The good news is that good businesses are still selling!

[8:15] Andy has seen sellers wait too long to sell, but what are some of the negatives if you decide to wait?

[12:10] On the flip side, there is nothing wrong with having the right broker in your pocket when you're ready to sell.

[13:10] It does take time to prepare and accurately sell the business at a price point that makes sense.

[18:00] Baby boomers will be transferring their wealth to Gen X and Millennials. In the future, we will see a surge in new opportunities.

[22:50] Instead of getting jobs, the younger generation might just invest their new wealth instead.

[25:45] What happens if a younger person buys a business? Andy believes you can't lose if y