Nicole and David Rizzo are part of a rising wave of younger business owners moving away from corporate life, purchasing Die Cleaning Equipment to forge their own entrepreneurial path amid the “silver tsunami” of retiring sellers.
Emerging Entrepreneurs: The Allure of Small Business Ownership
Emerging Entrepreneurs: The Allure of Small Business Ownership
A growing trend sees younger professionals abandoning their corporate jobs for small business opportunities, seeking profits and personal freedom.
Nicole Rizzo and her husband, David, represent a noteworthy trend of “corporate refugees” venturing into often overlooked small business sectors. In their case, they took the plunge by acquiring Die Cleaning Equipment, a specialized aluminum manufacturing enterprise based in Phoenix. The decision marked an important shift for the couple, who were keen on operating a business together.
Initially intrigued by the idea of operating a company run by another married couple, Nicole was taken aback by the business’s name and function. What she discovered was a company that employed welders to construct machinery designed to clean aluminum extruders—devices crucial for shaping aluminum into various products, from automotive parts to medical instruments.
Previous owners Steve and Kristin Smith had built their business from the ground up, with Kristin juggling a secondary job to support them until they could thrive. However, as they reached retirement age, their ambitions shifted toward a life of travel, prompting their decision to sell to a younger couple eager to dive into the industry.
Despite their lack of experience in aluminum production—Nicole having a background in local government while David had worked in corporate agriculture—the Rizzos found inspiration during their first visit to the Smiths' facility. Nicole recalled the moment they embraced their new venture, saying, “I saw the machines and I was like, This is the coolest thing I’ve ever seen.”
In June 2021, the Rizzos completed the purchase for roughly $600,000. Fast-forward almost four years, their determination has paid off as they successfully recovered their initial investment, demonstrating the possibilities for younger entrepreneurs stepping into the small business arena.
