Mike Payne, Owner of Hill Manufacturing & Fabrication, will tell you that somewhere between 60 and 75% of machinists want to own their own businesses some day. But owning a business can sound scary.

He'll also tell you that on the flip side, so many small manufacturing business owners don't necessarily understand their options when the time comes to exit.

In our conversation today, we're talking about buying and selling manufacturing businesses – from both angles. And Mike is no stranger to the topic.