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

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  Speaker 1: should know. South Dakota's retirement environment is a business opportunity.
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  Speaker 1: This information from the South Dakota Retailers Association. Here's Nathan Sanderson,
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  Speaker 1: South Dakota Retailers Executive Director.
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  Speaker 2: Are incredible. We've known that many business owners are edging
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  Speaker 2: up on retirement age, but when we put a percentage
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  Speaker 2: value on it, the potential for the next generation is
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  Speaker 2: greater than we anticipated.
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  Speaker 1: Sanderson went on to explain the retirement environment opens the
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  Speaker 1: doors for the next generation of business leaders. Alex Geierman,
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  Speaker 1: the owner of Madame Peacock's, a Western fashion boutique in Deadwood,
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  Speaker 1: is a great example. In 2025, she took the business
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  Speaker 1: over from her mother who opened the boutique in 2012.
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  Speaker 1: Geierman says she always hoped to grow something for herself.
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  Speaker 3: When my mom told me she was ready to retire
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  Speaker 3: and asked if I wanted to take over the business
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  Speaker 3: she'd built, the decision came naturally. It was an opportunity
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  Speaker 3: to combine everything I loved, business, creativity, customer relationships and
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  Speaker 3: building something meaningful.
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  Speaker 1: And Geierman says she hasn't looked back.
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  Speaker 3: I love the challenge of honoring the success my mom
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  Speaker 3: created while continuing to grow, innovate and build to make
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  Speaker 3: it my own.
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  Speaker 1: The retailer Swap Shop, an online listing of businesses and
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  Speaker 1: business equipment that is for sale currently in the state
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  Speaker 1: of South Dakota, has recently seen an uptick in activity.
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  Speaker 2: I think we have about a dozen listings out there
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  Speaker 2: right now. I view that number as an indicator that
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  Speaker 2: opportunities are starting to pop.
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  Speaker 1: The swap shop at sdra.org is one of the many
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  Speaker 1: ways that the South Dakota retailers support businesses throughout the
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  Speaker 1: state of South Dakota. The organization has resources to assist
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  Speaker 1: business owners as they transition to new ownership as well.
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  Speaker 2: If you're looking for succession planning information, give us a call.
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  Speaker 2: We're here to help.
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  Speaker 1: The South Dakota Retailers Association is one of the nation's
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  Speaker 1: oldest and largest state retail organizations. They operate in South
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  Speaker 1: Dakota as the South Dakota Restaurant Association, Grocers Association, and
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  Speaker 1: Hospitality Association. Altogether, they have about 4,000 members, and you
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  Speaker 1: can learn more online at sdra.org. Something you should know!