Boom is an end-to-end platform that utilizes proprietary AI technology to facilitate the buying, selling, and investing in small businesses. By providing high-touch customer service, Boom makes business ownership accessible and helps individuals achieve financial independence.
Funding
Funding not disclosed
Founders
Product
Problem
Many small business owners lack a clear path to exit, with a significant percentage of businesses being unsellable due to factors like owner dependence, messy financials, and unrealistic pricing expectations. This leaves a large portion of their wealth tied up and inaccessible, especially as many owners plan to retire in the coming years.
Solution
Boom offers a "Succession as a Service" platform designed to streamline the process of selling small and medium-sized businesses (SMBs). The platform provides a comprehensive assessment of the business to identify strengths, weaknesses, and value drivers. Boom then guides owners through onboarding, knowledge transfer, and connects them with vetted buyers who align with their financial goals and company culture. The service facilitates due diligence and the transaction process, aiming for a smooth transition and maximized value for the seller.
Target Audience
The primary target audience includes small business owners looking to sell their business and transition into retirement, as well as entrepreneurs and investors seeking to acquire established SMBs.
Features
- Comprehensive business assessment to identify key strengths and weaknesses.
- Structured onboarding process for organizing business information and financial data.
- Knowledge transfer documentation to capture critical operating procedures and relationships.
- AI-powered matchmaking to connect sellers with qualified and vetted buyers.
- Facilitation of due diligence and transaction process.
- Access to a network of vetted service providers for business improvement.
- Proprietary valuation models incorporating real-time data sources.