Would You Like to Sell Your Music School One Day?
Do you have an exit strategy for your music school? Perhaps you’ll want to hand it over to one of your children one day and draw a salary. Perhaps selling your school and retiring sounds like an appealing proposition. In this episode, I speak with Jeff Homer of Ensemble Music Schools who buys music schools for a living.
It’s hard to think of the end game when you’re down in the trenches managing and marketing your music studio. It’s like raising a child. It’s hard to think about saving for college when you’re busy trying to save for summer camp, after-school activities, and a laundry list of costs that come with having a child.
Raising a Child and Growing Your Business
Raising a child and growing a business have a lot in common. The day-to-day is taxing but one day you look up and they’re all grown up and ready to move on without you.
In the case of your business; burnout is a common outcome. The years of blood, sweat, and tears take their toll and with age, a slower less stressful lifestyle can become more attractive.
Perhaps you’re in love with your music school now. You’re young and vibrant. (at least you look young) The day will come when you are ready to move on. The good news is your music school is worth something to someone else. Perhaps you hand it over to an adult child to run the show while you draw a salary and sip Mai Thais on the beach in Jamaica. Perhaps you build up some equity in your music school and look for a buyer.
How to Run an Efficient and Profitable Music Teaching Business
Jeff not only shares insights on how to make your business attractive to a potential buyer but things you can do today to run a more efficient and profitable business.
How To Sell Your Music School
If you might be interested in selling your music school one-day contact Ensemble Music