How Do I Evaluate a Business with BOV?
As a business owner, when it comes time to sell, the number one goal is to determine the best possible sale price for your business. There are several ways to go about pricing your business to sell and avoid frustrating setbacks.
If you price your business too high you can shut out the market and if you price it too low you will not get the value you deserve and have worked so hard to build. As well, if you are priced incorrectly, lending institutions may disrupt your process by refusing to lend funds.
So, where is the happy medium and how do you evaluate your business to be on the right track?
There is a formula entitled the Brokers Opinion of Value (BOV). The BOV is the formal business evaluation used to create the perfect value for your business. At A R Business Brokers we have experience engaging in this process and use BOV often to assess value on a particular business.
The evaluation is based on an intimate understanding of the industry, the market expectations, the lending practices in the area, the comparable market conditions over the past several years and the personal experiences and analysis of the business at the time of sale. All of these numbers combined will produce a sale price that you can be confident will resonate with the buyers in the market.
Our experienced team will take you through the BOV analysis to ensure that your business is priced correctly when beginning the sales process.
The BOV pricing strategy will be one part of your deal and the team of experts at A R Business Brokers have a wide range of contacts to ensure you are covered on every additional aspect of the transaction.
If you are considering selling your business and are interested in a Brokers Opinion of Value please contact the team at A R Business Brokers to get the process started. Our combined years of experience and expertise allow us to review your current status to determine when is the correct time to enter the market. Contact us today or visit our website for more information www.aldrin.ca.