Are you thinking of selling your studio, but you’re not sure how much it’s worth or what your asking price should be. Well, we have some services that we can use to help you with that. First off, we look at the traditional methods of valuing a business. There are three or four different methods that are used to value a business in a formal evaluation.
Now, formal valuations typically costs $8 to $15,000 for small businesses. So they’re very expensive. What we would do is a scaled down version of that and look at the valuation methods and give you a range of selling prices. Now, typically our evaluation method will be based on the last three years of tax returns and financial statements. So you would have to supply that information and then we would create a valuation report showing you the prior values for the based on each of those years.
Now in that valuation report, we will give you guidelines and tell you what we think a listing price might be as well as what you might negotiate to a final settlement on and give you a fire sale price as well. So those valuations are good numbers to start with. They can also help you provide some guidance because you will have something from a third party that says, “Hey, it looks like my business is worth about these. So I didn’t just pull these numbers out of the year.”
We’d be happy to help you prepare that information and give you some tips on getting ready to potentially sell your business, or if you’re not even sure if you want to sell it, but you need to know how much it would be worth so you can make a good decision. This is a better way to do that than having to spend that eight to $15,000 on a form of valuation report.
So if this is something that interests you, please let me know, shoot me an email, and I’ll be happy to get you some further details and get started with you. I’m Donna at PYOPAccounting.com. Please subscribe to our YouTube page and follow us there for the latest and greatest information and check out our website PYOPAccounting.com. Thank you.
Donna Bordeaux, CPA with PYOPAccounting.com
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.