The goal of most business owners is to build the value of their business. In today’s fast changing market it can be difficult to know just how much a business is really worth, and the value of other businesses in your area may not be a good guide because every business is unique.
To help business owners and operators gain a better understanding of business valuation, the Innovation Center at Rogers State University will be hosting a workshop entitled, “Business Valuation Basics for the Business Owner: Wait ‘Til You Want to Exit and It’ll Be Too Late!”
Presented by business valuation expert and author David Perkins, the workshop will be held 6-9 p.m., Feb. 9, at the Innovation Center, 2000 University Drive on the Claremore campus. The workshop is free, however seating is limited and advance registration is required.
Having a clear picture of the worth of your business is essential for several reasons including:
- change in ownership,
- insurance, including key person insurance and damage claims from insurance losses (fire, other property damage, fraud, etc.),
- finance including business funding and re-capitalization planning, and
- litigation, owner divorce, financial settlements, eminent domain, bankruptcy and more.
Business valuations are beneficial to business owners and prospective buyers alike. The valuation will estimate a fair market value of the business. Owners will be able to identify what their major strengths and weaknesses are and determine a reasonable selling price when they are ready to exit the business. It will also help the business owner identify where the value of the company presently stands and what changes if any need to be made for future plans.
Business owners pour their heart and soul into a business often making it difficult for them to price their business at fair market value. Prospective buyers benefit from having an accurate valuation of a business because they know they are paying a fair price based on the viable assets of the business. Having an accurate valuation of the business is crucial to helping buyers obtain financing from the Small Business Administration and other sources for business funding, including financial institutions.
David Perkins is a business owner, investor, entrepreneur, and a passionate advocate for the private business owner. His highest level of expertise is in the purchase, sale and valuation of mid-size private businesses. He consults on such matters personally and via his merger and acquisitions firm, Vercor, which has six U.S. and eight European offices. Perkins is the author of “The Business Sale: An Owner’s Most Perilous Expedition” and “A Concise Overview of Business Valuation.”
For more information or to register, please contact Lynn Wilson at (918) 343-7533 or by e-mail [email protected].