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Selling a Collectible Phonograph Records Business
Most businesses are susceptible to economic conditions and collectible phonograph records businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
An assortment of hurdles and obstacles stand between you and the successful sale of your collectible phonograph records business.
But at Gaebler, we see collectible phonograph records businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with collectible phonograph records business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your collectible phonograph records business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Sale Preparation Timeframes
There are no effective shortcuts for selling a collectible phonograph records business. For starters, the financials need to demonstrate a track record of profitability and growth. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey collectible phonograph records business operation. Since all of this takes time and effort, a collectible phonograph records business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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