When it comes to guiding business owners through the complexities of exit planning, few are as seasoned or respected as Guy Cooper. A Business Broker with over three decades of experience, Guy has spent almost 17 years as the Franchisee of LINK Gold Coast, helping local businesses transition into new hands with confidence and clarity. Throughout his career, he has worked alongside hundreds of Baby Boomer business owners navigating the path to retirement. His insights are grounded not only in market data, but in the lived experiences of clients whose livelihoods — and futures — are often tied to the businesses they’ve built from the ground up.
More than ten years ago, Guy wrote a piece for LINK Business Broker Magazine addressing the importance of sound advice for Baby Boomers planning their exits. His message was simple, yet powerful: “Investing in the right advice today could turn a business sale into a well-earned windfall tomorrow.”
A decade later, the world has changed dramatically — but that core message still holds true.
A Changing Landscape for Retirement
The past ten years have brought seismic shifts in the economic, social, and personal factors shaping business exits. Baby Boomers — once thought to be on a predictable retirement path — are now navigating a far more complex environment. Key developments include:
- The COVID-19 pandemic (2020–2022), which disrupted operations and delayed plans for many business owners.
- Rising cost of living and persistent inflation (2022–2024), which have impacted both personal and business finances.
- Fluctuations in property and superannuation markets, affecting the perceived security of retirement funds.
- Ongoing labour shortages and skills gaps, making it harder to delegate, hire, or scale down.
- Improved health outcomes and longer life expectancy, encouraging many to work longer — not only out of necessity but for a sense of purpose and fulfilment.
Where retirement at 65 was once the norm, today’s Baby Boomers are increasingly working into their late 60s and beyond — often by choice.
Exit Age: Delayed but Not Forgotten
Business brokers have observed a marked trend: retirement timelines have shifted. Ten years ago, it was common to see business owners begin exit planning in their early 60s. Now, it’s not unusual for them to push those plans back several years — sometimes without a clear strategy in place.
While some of this delay stems from external pressures — market uncertainty, economic disruption, or business recovery following COVID-19 — much of it reflects a deeper mindset shift. Many owners remain passionate and engaged, reluctant to walk away from the businesses they’ve built.
Yet without proper planning, this extended engagement can come at a cost. In Guy’s experience, the absence of a defined exit strategy often leads to missed opportunities, reduced business value, or avoidable delays when it’s finally time to sell.
A Small Detail That Can Make a Big Difference: Rent
One often-overlooked element in business exit preparation is the treatment of rent — particularly when the owner also owns the commercial premises.
Historically, it made sense to charge market rent to the business. This ensured that financials reflected true trading performance and prepared the business for eventual sale to an external buyer.
But a decade on, this approach warrants review. Here’s why:
- Rent set too high can artificially depress net profit, leading to a lower business valuation.
- Rent set too low can inflate earnings, causing issues during due diligence and potentially damaging buyer confidence.
If you’re planning to sell, ensure the rent you’re charging is commercially justifiable and in line with current market conditions. This small but strategic adjustment can significantly influence buyer perception and final sale price.
The Takeaway
There may not be definitive data on the retirement age of Australian or New Zealand business owners, but one thing is clear: more and more Baby Boomers are exiting later than they planned.
Whether the cause is economic turbulence, shifting personal goals, or succession delays, the message remains the same as it did a decade ago: “The cost of good advice is still one of the smartest investments a business owner can make.”
If you’re a Baby Boomer considering retirement — whether it’s in two years or ten — don’t leave your exit to chance. Early, expert advice can safeguard your legacy, optimise your return, and help ensure your next chapter begins on your terms.
