Hey everyone,
I have reached a point in my plan to sell my current business and move on to a more fastlane business model.
Over the last 4.5 years I have built a successful flooring/construction company from nothing. It has provided my family a nice comfortable lifestyle, makes good profit, but it is still very much a JOB.
My out plan has always been to build it to sell at the 5 year mark, so I am starting to market it now.
The company is profitable and still very much growing. There is huge potential for someone that like to put in the hours, work non-stop, and live in the office or vehicle. We are in a very new and very demanding nitch market that is showing no signs of slowing down.
Here's the problem:
I have been having a hard time placing the proper value on it.
I consulted with my accountant first and he gave me too broad of a range
I consulted with internet "calculators", and received numbers on the high end of what I was thinking.
I had a business broker value the company and he was really low, lower than I think I would sell it for.
So, my question....
How do you determine a value/price when selling a company?
I really would like to hear from those that have sold companies prior and how they determined the value.
TIA
I have reached a point in my plan to sell my current business and move on to a more fastlane business model.
Over the last 4.5 years I have built a successful flooring/construction company from nothing. It has provided my family a nice comfortable lifestyle, makes good profit, but it is still very much a JOB.
My out plan has always been to build it to sell at the 5 year mark, so I am starting to market it now.
The company is profitable and still very much growing. There is huge potential for someone that like to put in the hours, work non-stop, and live in the office or vehicle. We are in a very new and very demanding nitch market that is showing no signs of slowing down.
Here's the problem:
I have been having a hard time placing the proper value on it.
I consulted with my accountant first and he gave me too broad of a range
I consulted with internet "calculators", and received numbers on the high end of what I was thinking.
I had a business broker value the company and he was really low, lower than I think I would sell it for.
So, my question....
How do you determine a value/price when selling a company?
I really would like to hear from those that have sold companies prior and how they determined the value.
TIA
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