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Business valuation is a science. If you’re considering selling your practice, it’s important to understand what factors contribute to firm’s worth. In the M&A world for accounting and tax professionals the main contributing factors are as follows: Location, Client Mix, Profitability, Staff & Transition Assistance. We also take into account factors such as financial history of the business, future industry projections, and relevant comparisons. Your firm assets, inventory, income statements, property (if any) and equipment will be carefully considered, as well as the intangible assets that make your practice appealing.
Thrive has assembled some of the most experienced professionals in the industry to provide you with an accurate valuation based on current market conditions.
A proper valuation is needed if you want to make the most out of your sale. If you value your business too high, buyers won’t be interested, but putting the price too low will devalue your business and make you lose out on a higher price/terms. At Thrive, we understand current market trends, will look at comparable business sales, and consider all of your business’s unique factors. Our methods of valuing and marketing will put your practice in the best position to sell.
We offer two services should you desire a valuation of your firm’s worth.
A formal valuation of your practice may become necessary in the event of divorce, partner dissolution, at the request of a bank, or another legal matter. Thrive can facilitate an evaluation that would satisfy all of the requirements in these situations.
Broker’s Opinion of Value
Thrive can provide you with an informal valuation of your practice that is more of an opinion to current value, based on current market conditions, past historical financial information and recent trends of your business. Whether you are just curious, or thinking about selling in the future and trying to plan, these opinions will point you in the right direction.
It is important to distinguish a formal business valuation from business pricing, known as a “broker’s opinion of value” (BOV). A BOV is a broker’s opinion of what a business may sell for, based upon his/her personal analysis, industry expertise, knowledge of local markets and lending, and comparable past sales.