What is my business worth?
Allenhurst, NJ (PRWEB) April 04, 2013
Clients and potential clients are constantly asking, “What is my business worth?” says Richard Santore, Vice President of Bielat Santore & Company, Allenhurst, New Jersey, whose firm specializes in the sale of businesses and commercial real estate, chiefly those within the food and beverage industry. “The facts are,” continues Santore, “First, 65% of business owners do not know the value of their business; secondly, 75% of business owners’ personal net worth is tied to their business; and lastly, 85% of business owners have no exit strategy!”
Over the years, Bielat Santore & Company has found that a business owner’s three most popular methods of valuing its business are:
(a) Gross sales (X) some overstated multiplier;
(b) The business assets (real estate, furniture, equipment, liquor license, etc.) added to the business value obtained in step one above; and/or
(c) The amount the business owner needs to retire!
Unfortunately, none of the above methods is the correct way to value a business!
Furthermore we have discovered that restaurateurs and other business owners are looking for a quick and automated way to obtain the estimated value of their business prior to sitting down with a professional business broker and/or accountant to formulate a more precise value. “That is why we are preparing to release our online ‘Business Valuation Calculator’ within the next sixty (60) days. Business owners will be able to log onto our website, respond to a series of questions and instantly receive back an approximated business value which they can use for planning, marketing, financing and assessing their most valuable asset,” states Santore.
Coming soon…keep an eye out for this valuable online evaluation tool at the Bielat Santore & Company website; http://www.123bsc.com.