independent restaurant succession planning

332,000 full-service restaurants in America are independently owned, accounting for roughly 92% of all currently in operation. Most of their owners have no succession plan.

I've spent the last 25 years working alongside these operators and here's what I keep seeing: An owner who built something incredible over 30 years has no idea what happens when they're ready to stop.

Their kids don't want it. Their GM can't afford it. And the brokers who call them? They don't speak the language.

These aren't failing businesses. They're profitable, beloved, community institutions — run by people who never thought about "exit planning" because they were too busy running dinner service.

This is quietly becoming one of the most important transitions in American small business. And almost nobody in the investment world is paying attention. I am. And I think there's a better way forward for these owners than what's currently out there.

What's your read on the succession challenge in small business?