Resources - Mature Market Headlines

Opportunity Knocks as Biz Boomers Retire

Business Edge, 8/24/07

Abstract:

Aging baby boomer business owners heading for retirement can be a sweet opportunity for those who take over — just ask Karen Flavelle at Purdy's Chocolates.

Flavelle took control of a "mature" business in 1997, her father having made Vancouver-based Purdy's the dominant retail chocolatier in British Columbia and Alberta.

Since 1997, under her leadership, the company has embarked on an aggressive expansion into Ontario, where it has opened five stores...

...During the same period, Flavelle has boosted employment to 935 workers from 734, and the production of chocolate has climbed by 22 percent.

Flavelle is not alone.

According to the survey Succession Can Breed Success by the Canadian Federation of Independent Business in 2005, those buying or inheriting businesses are reporting impressive results. More than half of the successor-owners increased the total employment of the business, two-thirds experienced increased profits and 60 percent reported growth of market share.

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