Montana’s baby boomer generation has led our state in the creation of small businesses and many are now at a transitional point. The business owner is 65+ years old and still working. The business needs the next generation of ownership, as many lack willing family members to take over the operation. An increasing number of these businesses struggle to transition as the acquisition price is too large for local individuals and too small for institutional buyers. The impact on local jobs across our state can be substantial especially when a community loses its only local grocery or hardware store. In some cases, the owner chooses to close the business. In others, the owner becomes disabled or dies, and the family is left to manage the transition. Goodworks Ventures LLC is launching Goodworks Evergreen, which provides transition opportunities to retiring owners by acquiring their local Montana businesses, with the goal of keeping quality jobs within the community.
Initially, we will focus on businesses within the manufacturing, distribution, and services-related industries*. Our mission is to keep the business rooted in the community while maintaining its community mindset during and after the transition. This approach is markedly different from the usual business exit strategy of finding a strategic buyer, either a competitor or a financial firm planning to slash costs and quickly flip the company. Both of these options often involve lost jobs and stripped assets.
If this business is not transitioned, the business owner is forced to close up shop, which results in the loss jobs and the creation of an adverse downstream effect for those individuals and organizations who provided support and services to the business, as well as the customers who had relied on the business.
We acquire stable, profitable companies and help them grow, with up to date business practices, in turn increasing their positive impact on their local community. We aim to develop a publicly accessible financial product, allowing for broad-based Montana ownership of these companies.
To make Goodworks Evergreen a success, we need your help in at least two ways.
- First, help us identify businesses that are in need of a transition.
- Do you know of an aging business owner that employs more than five people? Does it earn at least $750k a year in revenue, or net more than $200k? If so, we would like to begin a discussion with that business owner.
- Second, do you know any individuals who are interested in operating a business with the support of the entire Goodworks team? We will provide mentorship and leadership growth opportunities for the right individuals. Please encourage them to reach out to us on our “Contact Us” page.
* We do not invest in extraction, firearms, restaurant, bar or defense industries.