By: Thomas J. Perrone, CLU, CIC
A business appraisal is a process of determining the economic value of a business, giving owners an objective estimate of the value of their company ³. It is typically done when an owner is looking to sell all or a part of their business, or merge with another company. Other reasons include if you need debt or equity to expand your business if you need a more thorough tax analysis or if you plan to add shareholders ³.
If you are a business owner, you may need a business appraisal for various reasons such as:
- Selling your business: A business appraisal can help you determine the fair market value of your business and help you set a realistic asking price ³.
- Mergers and acquisitions: A business appraisal can help you determine the value of the business you are acquiring or merging with ⁴.
- Estate planning: A business appraisal can help you determine the value of your business for estate planning purposes ⁴.
- Tax purposes* A business appraisal can help you determine the value of your business for tax purposes ⁴.
- Litigation: A business appraisal can help you determine the value of your business in case of a legal dispute ⁴.
If you are looking for a professional appraiser to assess your business’s fair market value, you can consider contacting P C Appraisal Services located in Branford, CT ². They specialize in residential and commercial real estate property appraisals and have a 5-star rating on their website ².
Source: Conversation with Bing, 1/2/2024
(1) How to Do a Business Valuation – U.S. Chamber of Commerce. https://www.uschamber.com/co/run/finance/business-valuation-how-to-guide.
(2) What is a Business Appraisal and When a Small Business … – BizBuySell. https://www.bizbuysell.com/learning-center/article/what-is-business-appraisal/.
(3) P C Appraisal Services. https://www.pcappraisal.org/home.
(4) . https://bing.com/search?q=business+appraisal.
(5) What is a Business Appraisal – Website Closers. https://www.websiteclosers.com/resources/what-is-a-business-appraisal.
(6) Business Appraisals: What Are They? – The Balance. https://www.thebalancemoney.com/what-is-an-appraiser-how-does-an-appraisal-work-398126.
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THOMAS J. PERRONE, CLU, CIC
tperrone@necgginc.com
Your Business Worth 