If you are thinking of selling your business, that’s great! Most technicians just pass away and let the value of their business evaporate as other technicians poach their customers. If you have a family, you owe it to them to set up your business so it is easy to sell.
The first thing you’re probably wondering is, “How much could I get for my piano tuning business?”
This web app will give you an idea where to start.
Piano Tuning Business Valuation Calculator
♰
Calculate the total revenue that you made over the five years, subtract the total expenses, and then divide by 5
♰
This is the number of regular customers you have tune at least once every two years.
♰
Beginners need training and will lose customers. Expert technicians are looking to expand and probably can afford more and will make more fropm your list.
♰
These are customers who tune their piano at least once a month like concert halls or recording studios.
♰
How many full-time years have you been in business? If it was paret-time, pro-rate it. I.e. 50 years at 50% full-time is 25 years in business.
♰
Will you have a contract set up by a lawyer? Do you need to transfer ownership of the business with the government? These all cost money. Who will pay? We will add $3,000 to the business value if you will pay these fees.
♰
This is the used value of the tools that you are selling to the buyer.
♰
‘Lump Sum’ means one payment in full. ‘Per Tuning’ means the buyer will pay you a % for every tuning they do. ‘Owner Financed’ means the buyer will pay you an agreed upon amount every month usually, for a certain number of years.
♰
Will you pay for and send stamped letters or post cards to all your customers introducing the new technician? If you will, we will add $1,000 to the business valuation.
♰
Will you train the buyer? If the buyer does not know how to tune or repair pianos, this is crucial. We will add $20,000 to the business value if you train them.