You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a guitars business.
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To sell a guitars business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Hoping for a quick guitars business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your guitars business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. No two guitars business sales are alike. That means you'll want to look for a broker who has been around the block and possesses substantial experience selling businesses in the industry. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling guitars businesses.
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy guitars businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Given your interest in exit planning and in guitars businesses, you might find these additional resources to be of interest.
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