Succession planning usually isn’t the first thing hardware store owners want to discuss. Most are focused on daily tasks like managing inventory, helping customers, keeping vendors satisfied, and opening the store on time. However, with baby boomers retiring faster than ever, succession planning has become a key topic in the hardware industry. Over half of U.S. small-business owners are older than 55, and one in four is already 65 or older. By 2035, about six million small and midsize businesses will change owners, and around one million are expected to be sold. That’s nearly $5 trillion in business value changing hands. For many family-run hardware stores, the upcoming changes in ownership are especially important. The real question isn’t when the change will happen, but whether the business will continue into the future.