With fifteen million businesses projected to change ownership over the next ten years, the small business economy is likely to look very different in the near future. These shifting demographic conditions create opportunities for enterprising executives to acquire successful small businesses from a retiring owner and grow them over time. . Private Market Labs is a platform that can help connect entrepreneurs with acquisition opportunities through the use of artificial intelligence technology. Seize the opportunity to find a business that aligns with your interests and start a new chapter in 2024.
Josh Levine, co-founder and CEO of Private Market Labs, is passionate about helping entrepreneurs achieve success due to his own journey from the private sector to business ownership. After finishing his studies in public policy and finance at the University of Texas, Levine worked for several large and successful companies that were extremely good at turning employee effort into strong profits, but did not provide the opportunities for ownership, upside, and decision-making that he craved. Looking for a chance to be a leader and achieve a higher return on investment for his time, Levine turned to entrepreneurship. With Private Market Labs, he helps others in a similar position, supporting their journeys to entrepreneurship by facilitating their purchase of successful small businesses from retiring owners.
Private Market Labs is a platform that uses AI to match broker-represented retiring business owners that are ready to sell with talented entrepreneurs at scale. The AI software built into Private Market Labs uses buyers’ specific acquisition criteria to connect them with businesses and business brokers that fit their exact needs. Unlike other platforms, Private Market Labs does not rely on filters or a simple text search to match you with potential deals. Private Market Labs takes the guesswork out of acquisitions and facilitates the intergenerational transfer of trillions in asset value.
The company sits at the intersection of technological innovation and business acquisition. The small business sector is poorly served by a lack of technological advancement. Levine observed that there were profitable businesses run by retiring owners that would close simply because they could not find buyers. However, potential buyers were also struggling to find suitable businesses for their needs. 50% of business owners are currently over the age of 55, indicating a mass closure of small businesses in the coming years. Private Market Labs strives to solve this problem.
Levine was not only passionate about Private Market Labs because it could solve a large-scale issue. The company’s goal also aligns with his personal desire to increase access for the disenfranchised. Diverse entrepreneurs who may lack connections or brand-name MBAs may struggle to make headway in the small business acquisitions ecosystem. Private Market Labs substitutes personal networks for technology, helping talented people acquire businesses no matter their background. .
If you are looking for the next stage in your career, acquiring a small business could offer you a new path. There is less risk in acquiring than starting a business. Existing businesses have goodwill and a built-in list of clients, customers, employees, suppliers, and more. The buying and selling of businesses drives the industry forward while allowing people to keep their jobs and accrue more wealth. Use Private Market Labs to discover what is already out there and waiting for you.
