Was considering purchasing a small business to own and operate myself, but it seems that recently PE has done a roll up in just about every industry. Those that haven't sold already will have seen a number of competitors already sell out. Finding a decent target may be nearly impossible.
I guess my question here is: Am I too late to the party?
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Based on previous WSO threads, it's not uncommon to feel concerned about the impact of Private Equity (PE) on the feasibility of Entrepreneurship Through Acquisition (ETA). Here are some key points to consider:
Market Saturation: PE firms have indeed been active in many industries, often leading to consolidation. This can make it challenging to find attractive acquisition targets that haven't already been snapped up.
Competition: The presence of PE in the market means increased competition for quality businesses. This can drive up prices and make it harder for individual buyers to compete.
Opportunities Still Exist: Despite the challenges, there are still opportunities out there. It may require more effort to identify them, but niche markets or less competitive industries might offer viable targets.
Networking and Research: Leveraging your network and conducting thorough research can help you uncover opportunities that might not be immediately apparent. Sometimes, smaller businesses that are not on the radar of PE firms can be excellent targets.
Timing: While it may seem like you're late to the party, the market is always evolving. New opportunities can arise as market conditions change, so staying informed and ready to act is crucial.
In summary, while PE activity has certainly increased competition and consolidation in many industries, it doesn't mean that all opportunities are gone. It may require more diligence and strategic thinking to find the right target, but it's still possible to succeed in ETA.
Sources: Am I too late??, Am I too late or too early to apply for Sophomore SA 2023?, Is it too late to start networking/applying to IB 2020? Which roles/banks are still recruiting, Late to the game -- advice appreciated!
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