When you choose to hire Morgan & Westfield as your broker, we will handle everything needed to sell your business or assist you in the process of buying a new business! Some buyers and sellers choose to hire a business appraiser at some point throughout the process, often to complete a valuation of their business or assist in navigating through tax issues. Because of that, we have interviewed several business appraisers so you can determine if/when to hire a business appraiser and what you can get from working with a business appraiser. The business appraisers who have interviewed with Morgan & Westfield give great insight on what appraisals are, when to get an appraisal, how to keep the sale of your business confidential, how to avoid common mistakes made by buyers and sellers, and so much more.


johnson2_5.JPGJoshua R. Johnson, ASA - Minneapolis, Minnesota

How long is my appraisal "up-to-date"? In real estate appraisal, there is a concept called exposure time, or how long the value is expected to hold in the local market place between a willing and knowledgeable buyer and a willing and knowledgeable seller barring any unforeseen events.  Unfortunately, there is not an…"  Read More…


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Jerry S. Horton, MS, MBA, CBA, Ph.D. - Sarasota, Florida

What does an appraisal cost and how long does it take? If you are selling your business, many business brokers will perform an appraisal as part of listing your business for sale. That is typically done as no charge. For other situations such as tax, divorce or estate planning, where a…"  Read More…

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Michael A. Gould, CPA/ABV/CFF, ASA, CFE, CVA - Saddle Brook, New Jersey

What types of businesses tend to sell the easiest and have the highest valuations?  The technical answer to this question is that companies with the best free cash flow tend to sell the easiest.  I would also like to be able to say that valuations are based entirely on cash flow, but…"  Read More…


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Jason Kwiatkowski, CPA, CA, CBV, ASA, CEPA - Ontario, Canada

Does the city the business is located in have an impact on the value of a business? Not necessarily but it is possible.  Although location can and often is a factor to consider in the valuation of a business, a company located in one city is not necessarily more or less…"  Read More...


Angela Sadang 3.jpgAngela Sadang, CFA, ASA - New York, New York

How can I get a premium value for my business? You can definitely add premium by lessening nonsystematic risks such as creating synergies with a potential buyer when a company is targeted for acquisition, decreasing reliance on one supplier or one customer, diversifying the product or service lines rather than…” Read More…


large_michael 2_0.JPGMichael S. Blake, CFA, ASA, ABAR, BCA - Atlanta, Georgia

Do you feel a business appraisal is necessary for companies looking to sell in the lower-middle market ($5-50 Million in Annual Revenue)? “An appraisal is almost never necessary to sell a business.  It is also not necessary to appraise your home before selling it or to look up…"  Read More…


Steven Siefert 3.jpgSteven J. Siefert, Accredited Senior Appraiser and Business Valuator - Milwaukee, Wisconsin

How do the appraisal approaches differ when it comes to appraising businesses vs. real estate? Like real estate appraisals, business valuations consider the three valuation approaches: income, cost and market. Unlike many types of real estate, “comparable” business…"  Read More…


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Garrett M. Wilson, CFA,CVA – Denver,  Colorado

What is considered a normalized salary and how is it relevant in determining business value?  A normalized salary is the economic value of somebody’s time. This is determined by looking at what base salary, bonuses...” Read More...

 


John Mack Pic_0.jpgJohn G. Mack, ASA, MCBA, ABAR – Peoria, Arizona

What is the most common method for appraising businesses with less than $1 million in annual revenue? This seemingly easy question has a complex answer, as size is not the only factor that guides the appraiser in determining which methods are most appropriate to utilize…"  Read More…


Michael Meagher 4.jpgMichael W. Meagher, CBA - Edina, Minnesota

Is it necessary for me to receive a business appraisal prior to selling my business? "In my opinion it’s an excellent idea for a business owner to obtain an appraisal.  For most business owners, the sale of their business is one of the most significant financial events of…"  Read More...
 

large_Bradley_optimized 2_1.jpgBrad Van Horn, ASA, CBA, CVA, CPA, MBA - Naperville, Illinois

When should I plan to begin the succession planning process? Yesterday! It is never too early to start the succession planning process and constantly knowing and understanding the value of your business is very important. We have observed…"  Read More…

 


Front Page pic.jpgTrisch Garthoeffner CVA, MAFF, EA – Naples Florida

Does having multiple owners or shareholders complicate the process of valuing a business? I have found this to be an issue only when there is dispute to the percentage of ownership. Recently, I worked on…"  Read More…

 


michael 2x2.JPGMichael Bankus, CVA, AFSB – West Chester, Pennsylvania

How do I know if I am paying too little or too much for a business? There are many factors that go into what a buyer pays, and conversely, what a seller accepts for a business. For example, the motivations of the buyer…"  Read More...

 


Marcus Sullivan 3.pngMarcus A. Sullivan, CVA - Guaynabo, Puerto Rico

Do I need an appraisal for my small family business or is that just for big businesses? Performing a business valuation prior to selling your business is always recommended.  Whether your company is a large private corporation or a small family business…"  Read More...

 


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Walter Blijleven, RA, CVA - Willemstad, Curacao

What is the best way a buyer or seller can protect themselves from the unknowns of buying or selling a business? Buyers and sellers need to formulate their expectations in regards to cash flow, capital gains and target business before moving forward with the process…"  Read More…


Dan Doran 2.jpgDan Doran, CVA - Alexandria, Virginia

How can I improve the value of my business prior to the sale? First, plan for an exit. This is a multi-year process, wherein if you identify and mitigate risks you can push your relative valuation higher. Other specific items which drive premium valuations include recurring revenue…"  Read More…

 


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Philip M. Reynolds, CPA, ASA - Wilmington, Delaware

Can I hire a business appraiser to just offer me some guidance? In addition to knowing how to value a business, qualified business appraisers also know what gives value to the business, so they can suggest what actions to take to…"  Read More…

 


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Thomas J. Czupta, ASA - Chicago, Illinois

What kinds of documents do you need to appraise my business? I typically request audited or reviewed financial statements for the most recent five years, financial statements for the most recent interim period, tax returns for the most recent five years, owner/officer…"  Read More…

 


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Walter L. Zweifler, ASA, CFA - New York, New York

How long does a business appraisal take to complete? In cases where there are no extraordinary conditions, 30 to 45 days should define the period from the moment when financial statements are delivered to the appraiser and a final report is presented…"  Read More…

 


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Gabrielle Luoma, CPA, CGMA - Tucson, Arizona

When is the right time to sell my business? The right time to sell is never when you have to do it. Death or serious injury to an owner will result in a fire-sale if a proper succession plan has never been put into place. I have seen situations where good businesses…"  Read More…

 


Rand M. Curtiss 3_0.jpgRand M. Curtiss - Cleveland, Ohio

As a business owner, should I have a valuation done, even if I do not plan on selling my business right now? "Have your business appraised when you are contemplating doing something – selling it, buying out a partner, taking on a partner, or perhaps…"  Read More…