Successor Wanted: How Businesses and Buyers Find Each Other

"Successor wanted" is no longer the occasional classified advertisement in the German-speaking region — it is a mass phenomenon. Tens of thousands of healthy businesses are looking for someone to take over, and they only find that person if seller and successor meet on the same channels and both sides know what to look for.

How we guide owners through business succession — from the first decision to the handover — is set out on our services page.

The figures are unambiguous. According to the KfW Nachfolge-Monitoring 2025, around 545,000 owners in Germany are aiming to hand over their business by the end of 2029, while 569,000 are planning to wind it up for want of a successor. The same trend is emerging in Austria. "Successor wanted" is therefore not a niche subject but the starting position of an entire generation of entrepreneurs.

This article looks at both sides of the market: the owner searching for a successor, and the buyer searching for a business. Owners who want the search planned step by step from their own perspective will find it in searching for a successor; the Austrian picture is set out in business succession in Austria and the exchanges themselves in the succession exchange.

Why "successor wanted" is becoming the norm

The reason is demographic. A large number of business owners reach retirement age this decade, while fewer young people are aiming to take a business over than in the past. That shifts the balance of power: increasingly it is not the successor applying to the business, but the business applying to the successor.

For owners this means two things. The search takes longer — realistically one to three years. And a business that is genuinely ready for handover and cleanly structured has a real advantage in the competition for a scarce resource. How to make a business ready for handover is set out in preparing for succession.

Where "successor wanted" listings actually sit

Anyone searching, or hoping to be found, needs to know the channels. The main public exchanges in the German-speaking region are free of charge and run by the chambers of commerce.

Platform	Region	Operator / access
nexxt-change	Germany	the largest German business exchange, run by KfW, the chambers and industry associations
WKO-Nachfolgebörse (nachfolgeboerse.at)	Austria	a free service of the WKO, the Austrian Economic Chamber, for both sellers and buyers
Follow me	Styria	an actively managed succession marketplace run by WKO Steiermark

On these exchanges, sellers post what they are offering and buyers post what they are looking for, filtered by sector and region. How these marketplaces work in detail, and how to draft a listing, is covered in the business exchange. Alongside the exchanges, networks — tax advisers, banks, chambers — and direct approaches often contribute more to success than the advertisement alone.

For sellers: why most listings fail

A "successor wanted" entry on its own rarely produces the right candidate. Three mistakes recur.

Too late. An owner who only posts a listing once the desired exit date has arrived is selling under time pressure, which is the worst negotiating position there is. Why timing is the central lever on value is set out in the right time for a succession.

Too open, or too anonymous. A listing that makes the business identifiable unsettles employees, customers and suppliers. One that gives nothing away attracts no interest. The balance — enough substance, no identifiability — is what decides the outcome.

Not ready for handover. A business that only functions with its owner in it deters every serious successor. No listing compensates for that.

For buyers: reading a listing properly

The buy side makes mistakes too. Anyone assessing a "successor wanted" offer should look beyond the sector and the asking price.

Check whether the business depends on one person or is carried by processes. Ask about earnings over the last three years, not just the last good one. Establish whether the owner is willing to stay through a handover phase — a phased exit protects customer relationships. And work through the financing before you negotiate. Whether taking a business over rather than starting one suits you is set out in taking over a business.

Why the exchange is rarely enough

A public exchange is a good starting point, but it is a marketplace: open, broad and not especially discreet. For a substantial business that is often not the best route. The genuinely suitable successors — strategic buyers, or investors with sector experience — do not go looking through listings. They are approached deliberately and in confidence.

That is precisely the difference between an advertisement and a managed process: not many contacts, but the right conversations — curated, and without exposing the business publicly before its time. The routes open to an owner in principle are set out in finding a successor.

The best succession begins years before closing. Talk to IGCP Capital Partners early and in confidence — independent, discreet, and on equal terms.

FAQ

Where do I find businesses advertising "successor wanted"?

On the free chamber-run exchanges: nexxt-change in Germany, the WKO-Nachfolgebörse (nachfolgeboerse.at) in Austria, and "Follow me" in Styria. Beyond those, through tax advisers, banks and sector networks.

Does a listing on a succession exchange cost anything?

No. The WKO-Nachfolgebörse is a free service for both sellers and buyers, as is nexxt-change in Germany. Costs arise only from advice, valuation and transaction support.

How do I write a "successor wanted" listing that works?

Give enough substance on sector, size and region for serious parties to get in touch, but without making the business identifiable. And post early enough that you are not negotiating under time pressure.

Is a succession exchange enough to find a successor?

For smaller businesses, often yes. For substantial companies worth transferring, a curated and confidential approach to suitable successors is usually more effective than a public listing.

How long does the search for a successor take?

Realistically one to three years. The demographic shift has lengthened the search, which is why preparation and timing matter more than the wording of any advertisement.

What should a buyer check before negotiating?

Whether the business depends on one person or on processes; earnings over the last three years rather than the last good year; whether the owner will stay through a handover phase; and whether the financing actually works.

Why is discretion such an issue with public listings?

Because a listing detailed enough to be recognisable unsettles employees, customers and suppliers, while a listing vague enough to protect the business attracts no serious interest. A managed process resolves that tension by approaching suitable parties directly.