Sell a Business for the Best Price
Selling a Piano Tuning, Repair, and Refinishing Business
With the economy limping along, many piano tuning, repair, and refinishing business owners are hesitant to put their businesses on the market. But in reality, now may be the perfect time to sell a piano tuning, repair, and refinishing business.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your piano tuning, repair, and refinishing business.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a piano tuning, repair, and refinishing business. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your piano tuning, repair, and refinishing business on BizBuySell.com and other popular online business-for-sale listing sites.
Timing Your piano tuning, repair, and refinishing business Sale
If you're feeling like your tenure as the owner of the piano tuning, repair, and refinishing business is coming to an end, the time to sell is now. Some experts are telling piano tuning, repair, and refinishing business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the piano tuning, repair, and refinishing business marketplace. The inventory of what we consider to be quality piano tuning, repair, and refinishing businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based piano tuning, repair, and refinishing business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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