What the Great Ownership Transfer Means for Your Sale

In February 2026 the McKinsey Institute for Economic Mobility estimated that about 6M small and medium-size US businesses will face an ownership transition by 2035 as baby boomers retire, and that more than 1M of them are viable candidates for a sale, representing up to $5 trillion in enterprise value. McKinsey calls it the Great Ownership Transfer, and for an owner thinking about the next few years it changes both who’s buying and what they plan to do with the company.

Who’s Buying

The buyers coming into this market include individual buyers, funds, competitors and permanent owners, and each one arrives with a plan for the company that starts on closing day. That plan decides what happens to the people who work for you and the customers who count on you long after the price is paid, which is why the buyer you pick matters as much as the number on the page.

What to Ask Any Buyer

The answers to a handful of questions tell you more about life after the sale than the headline price does, and asking them early saves months.

• What’s your plan for the company 5 years after closing?

• Who runs the business day to day after I step back, and when does that person start?

• What happens to my team and my most important customer relationships?

• How much of the price is paid at closing, and how much depends on what happens after?

• Who will I deal with from the first call to closing day?

Why Starting Early Helps

Owners who start planning 2 to 3 years ahead usually have more choices, because the things buyers value most, like books they can verify and a team that runs the business without the owner, take time to put in place. A first conversation with a buyer commits you to nothing, and it’s a useful way to see your business the way a buyer will.