Business Exits By Industry
Selling a Computer Music Products Business
It's a misconception that no one is buying computer music products businesses these days. Savvy entrepreneurs see computer music products business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
At Gaebler, we're seeing computer music products business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Before You Sell
The pre-sale checklist for a computer music products business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your computer music products business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
As your computer music products businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs