By Genine Fallon | For Owners in Honor

There’s a quiet crisis unfolding on Main Streets across America.

Walk through any town square, and you’ll find businesses that have powered communities for decades—machine shops, HVAC companies, local logistics providers, family-run firms. They’re steady. Profitable. Anchored by reputation and service.

But many of them are also at risk of disappearing.

The reason? No succession plan.

As baby boomer business owners prepare to retire, the country is bracing for what’s been dubbed the “Silver Tsunami”—a massive shift in small business ownership, with millions of companies up for sale in the next 5–10 years. According to data from the Exit Planning Institute, nearly 70% of small business owners plan to exit within the next decade, and most have no clear transition strategy.

These aren’t startups or speculative tech plays. These are proven, cash-flowing businesses with employees, customer bases, and critical roles in local economies.

The question isn’t whether they’ll survive. It’s whether anyone will step in to lead them. A Surprising Answer from an Unexpected Source

While MBA graduates and private equity funds often come to mind in acquisition conversations, there's a growing cohort of leaders stepping into this gap: veterans.

Not just as employees. As owners.

“Veterans aren’t asking for a handout,” one business seller shared with me. “They’re just asking for a shot. And when they get it, they deliver.”

The skillsets veterans bring from service—leadership under pressure, resource management, team building, mission focus—are deeply aligned with the realities of small business operations. They may not come with formal business degrees, but they bring something often harder to teach: judgment, grit, and follow-through.

Why This Moment Matters

Veterans leaving active duty face their own kind of uncertainty. Many are told to “network,” to translate their military experience into corporate jargon, or to take a backseat until they “learn business.” But what if they didn’t have to start at the bottom?

Entrepreneurship Through Acquisition (ETA) flips that narrative.

Instead of launching something new, veterans acquire existing companies—often from retiring owners—and step in as CEOs. With the right support, this isn’t just viable. It’s strategic.

‍“We train for mission success under pressure, with no room for excuses. That mindset transitions into business leadership almost seamlessly—if you’re given the right tools.”

Patrick Flood, Founder & CEO, Owners in Honor‍

At a national level, we’re staring down a succession crisis.

At a personal level, we’re watching thousands of veterans leave service with leadership skills going underleveraged.

ETA sits at the intersection of those two realities.

Continuity, Not Disruption

Veterans aren’t coming in to flip companies or gut operations. In many cases, they’re doing the opposite: preserving culture, investing in employees, and extending legacy.

“This wasn’t just about buying a business,” one veteran founder told me. “It was about protecting what already worked and leading it into the future.”

There’s a narrative in American business that entrepreneurship has to be disruptive. But sometimes the most powerful form of entrepreneurship is quiet, steady, and deeply operational. It’s buying the family business down the street—not for ego, but for continuity.

What Needs to Happen Now

If we want to keep Main Street intact, we need to think differently about who we back as leaders.

That means lenders who are willing to support veteran buyers. Brokers who are open to working with operators outside of the traditional mold. Sellers who want values-aligned successors. And investors who recognize that grit and mission-driven leadership often outperform flash.

Organizations like Owners in Honor are working to close those gaps—offering structure, coaching, and connection points for veterans ready to step into ownership.

But what’s needed now is scale. Awareness. And a willingness to see veterans not just as heroes of the past—but as stewards of the businesses that still hold communities together.

Main Street doesn’t need saving. It needs successors. And some of the most capable ones are already trained. They’re just waiting for the right door to open.

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