Young Canadians buying boomers’ mundane businesses

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When Maureen Ngo left the University of British Columbia in her fourth year, it wasn’t to build a tech startup or launch a lifestyle brand. She dropped out to buy a laundromat.
The 25-year-old is well aware that it’s not a very sexy business. In fact, she bought it because it’s boring.
It’s not as if running a wash-and-dry operation was always her dream, but after being inspired by an online influencer who promotes “boring” businesses as a lower-effort path to financial freedom, she was all in.
A year and a half later, she’s made back her investment, manages a small-but-growing team, and plans on buying more businesses in the future. There is just one thing she would’ve done differently.
“I would have bought the laundromat way faster,” she said.
Ms. Ngo is part of a cohort of young Canadians buying “boring” businesses as a growing number of older Canadians look to sell as they retire: think laundromats, car washes, and vending machine companies. They might not seem exciting, but that’s the point.
Instead of starting something new (and taking on the risks that come with that), budding entrepreneurs are looking to buy businesses already well established in communities, with steady customers, proven revenue, and low overheads that make them more resilient to recessions.
For some of these buyers, owning a boring business is a pathway to escape the monotony of a 9-to-5 job. For others, it’s not meant to replace the income they make at their day job, but is instead, an investment, similar to a rental property.
These buyers are often called “searchers,” and most are in their 20s to 40s. For them, buying a business – instead of starting from scratch – is a less risky way to secure their financial futures.
“There is opportunity in chaos,” said Alison Anderson, CEO and founder of SuccessionMatching, an online platform that matches buyers and sellers. She has seen a rise in buyers for smaller, stable businesses in early 2025 amid trade tensions and market uncertainty.
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Lots of interesting opportunities in established businesses out there.
 
Upvote 13
When was the last small business you have seen with a white person working , let alone owning?
 
Are we sure that “young Canadians” are actually buying these businesses? It’s only a matter of time before the mom & pop stores start being replaced as much as fast food and other entry level jobs.
 
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