Something You Should Know - September 04 South Dakota Retailers Association - Retirement Environment

0:00Brought to you by Octane Energy Drank, an all-in-one energy drink, free workout and sports drink, I think it tastes great and it's good for you. Learn more at betterenergydrink.com. Use promo code radio to get free shipping. That's betterenergydrink.com South Dakota's retirement environment is a business opportunity. This information from the South Dakota Retailers Association. South Dakota is brimming with opportunities for entrepreneurs who are looking to invest in established businesses. Recent survey data from the South Dakota Retailers shows approximately 14% of current South Dakota business owners are considering selling their business in the next 5 to 10 years. Here's Nathan Sanderson. South Dakota Retailer's executive director. The opportunities for would-be entrepreneurs in South Dakota are incredible. We've known that many business owners are edging up on retirement age, but when we put a percentage value on it, the potential for the next generation is greater than we anticipated. Sanderson went on to explain the retirement environment opens the doors for the next generation

1:02of business leaders. Alex Geierman, the owner of Madame Peacocks, a Western-fashioned boutique in Deadwood is a great example. In 2025, she took the business over from her mother who opened the boutique in 2012. Geierman says she always hoped to grow something for herself. When my mom told me she was ready to retire and asked if I wanted to take over the business she'd built, the decision came naturally. It was an opportunity to combine everything I loved. Business, creativity, customer relationships, and building something meaningful. And Geierman says she hasn't looked back. I love the challenge of honoring the success my mom created while continuing to grow, innovate, and build to make it my own. The Retailer's Swap Shop, an online listing of businesses and business equipment that is foresaal currently in the state of South Dakota, has recently seen an uptick in activity. I think we have about a dozen listings out there right now. I view that number as an indicator that opportunities are starting to pop. The Swap Shop at sdra.org is one of the many ways that the South Dakota Retailer support businesses throughout the state of South Dakota.

2:03The organization has resources to assist business owners as they transition to new ownership as well. If you're looking for succession planning information, give us a call. We're here to help. The South Dakota Retailer's Association is one of the nation's oldest and largest state retail organizations. They operate in South Dakota as the South Dakota Restaurant Association, Grocers Association and Hospitality Association. Altogether they have about 4,000 members and you can learn more online at sdra.org.