You should contact a business valuation expert if you are thinking about selling your business or if you are planning to sell the business within the next few years. Planning ahead can help you maximize the value of the business.
A formal business appraisal is a highly detailed and formalized process for determining the value for a business. It is generally much more expensive than an Indication of Value. An Indication of Value utilizes many of the steps as a formal appraisal but is less detailed and takes less time to complete.
An Indication of Value is what most business sellers and buyers need to determine a reasonable sales price for a business. A formal appraisal, however, will be required for bank financing and in the event of litigation such as partnership splits, divorce, etc.
Copyright © 2022 Business Valuations - All Rights Reserved.