What’s your business worth? OK, there’s the equipment at the Rapid City, Spearfish and Williston offices. And the delivery truck, inventory, cash in the bank…. Wait! Assets are a part of the value, but your business should be worth much more than the sum of its parts.
Ericka Heiser, MBA, Certified Valuation Analyst and a manager at Ketel Thorstenson’s Rapid City office, has a useful list of things to consider when placing a value on your business. Do you have a competitive advantage over similar companies? Your reputation among loyal customers has a value. A dedicated staff makes a big difference, too, and there are ways to assure a buyer of your business will be able to inherit that loyalty.
Check out Ericka’s complete article in the latest KT Addition online newsletter.