{"id":575,"date":"2019-01-16T09:00:11","date_gmt":"2019-01-16T14:00:11","guid":{"rendered":"https:\/\/murphybusiness.com\/blog\/?p=575"},"modified":"2025-05-30T02:48:42","modified_gmt":"2025-05-30T06:48:42","slug":"company-valuation-services-when-to-hire","status":"publish","type":"post","link":"https:\/\/murphybusiness.com\/blog\/company-valuation-services-when-to-hire\/","title":{"rendered":"When Should You Hire Company Valuation Services?"},"content":{"rendered":"

As you prepare to sell your business, your due diligence should include a proper business valuation. But when\u2019s the right time for you to hire company valuation services? In many cases, owners lose value when selling their business because they waited too late for a valuation \u2014 a situation any small business owner will want to avoid.<\/p>\n

Let\u2019s take a look at a common scenario. You\u2019ve been running your business for more than a decade. In the past few years, you\u2019ve thought about selling, but you\u2019ve made no concrete plans. Recently, your circumstances have changed: it\u2019s time to sell your company. Before listing your business, you hire a company valuation service to determine the fair market value of your business.<\/p>\n

The catch? Your business is worth a lot less than you thought. Worse yet, you no longer have enough time to sufficiently increase its value before it goes on the market. Suddenly, you\u2019re looking at a much smaller nest egg for your retirement.<\/p>\n

If you want to avoid this kind of situation, you should get your business valuated well ahead of time. This way, you\u2019ll have an earlier sense of your company\u2019s value. More importantly, you\u2019ll have the time and the guidance you need to ensure your business will net the figure you expect to make your next move.<\/p>\n

\"\"<\/p>\n

The Benefits of Company Valuation Services<\/h2>\n

A lot of small business owners think of valuations as little more than a formality. You need a number that you can stick on the price tag for your business. Company valuation services provide that number.<\/p>\n

This line of thinking overlooks important benefits of getting a professional valuation. More importantly, it can lose you untold value when it comes time to actually sell your business.<\/p>\n

A business valuation<\/a> offers more than a simple dollar figure for the value of your business. It also shows you where that value comes from. What\u2019s more, it can help you identify issues that are lowering the value of your business.<\/p>\n

Using this information, you can develop a strategy for increased value. With help from a valuation specialist, you can come up with a plan that will strengthen areas of positive value and address areas of weakness. This way, your business will be worth much more when you finally list it for sale.<\/p>\n

The benefits of this approach may seem glaringly obvious. After all, every business owner wants to maximize the value of their business when selling. But there\u2019s an obvious drawback to this approach: it takes time and effort. If you wait until the last minute to have your business valuated, you won\u2019t have the time you need to increase your valuation figure.<\/p>\n

That\u2019s why it\u2019s a smart idea to hire company valuation services well in advance of selling your business.<\/p>\n

When to Hire a Valuation Specialist<\/h2>\n

If you want to maximize the market value of your business, you need to start planning your sale well in advance. Rather than contacting a valuation specialist 3 to 6 months before you intend to sell your business, your initial valuation should take place 24 to 36 months in advance.<\/p>\n

While this might seem excessive, it\u2019s the only way you\u2019ll have the time you need to increase your business\u2019s value.<\/p>\n

Let\u2019s say you hire company valuation services 24 months ahead of selling your business. After your valuation, you learn that your business is worth less than half of what you expected. Accounting for the 6 to 12 months it will take to sell your business, you have roughly a year-and-a-half to address this deficit. If anything, you\u2019ll probably regret not having valuated your business earlier.<\/p>\n

That raises another important concern. Not only is it important that you hire company valuation services early, but it\u2019s equally important that you find the right<\/em> valuation service. If you hire an unqualified, inexperienced, or unreliable professional, you could end up wasting untold hours and\/or dollars based on faulty advice.<\/p>\n

Our suggestion? Contact your local Murphy Business\u00ae office<\/a> to request company valuation services<\/a>. All of our valuations follow the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation (USPAP), as well as the Business Appraisal Standards of the Institute of Business Appraisers.<\/p>\n

As business brokers, we also know what it takes to increase the market value and appeal of your business. We pride ourselves on working closely with business owners in preparation for business sales and transfers, including professional consultation and strategic planning for raising the value of your business.<\/p>\n

One final note: While it\u2019s best to valuate your business well in advance of a sale, that\u2019s not always possible. Even if you\u2019ve waited until the last minute, there are steps that you can take to maximize the value of your company and position it for sale. So make sure to hire a trusted and experienced valuation specialist!<\/p>\n

Need company valuation services? Call Murphy Business (888) 561-3243 to connect with a local business broker and request a valuation.<\/p>\n","protected":false},"excerpt":{"rendered":"

As you prepare to sell your business, your due diligence should include a proper business valuation. But when\u2019s the right time for you to hire company valuation services? In many cases, owners lose value when selling their business because they waited too late for a valuation \u2014 a situation any small business owner will want … Continue reading “When Should You Hire Company Valuation Services?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":691,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[35],"class_list":["post-575","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-consulting","tag-company-valuation-services"],"yoast_head":"\nWhen Should You Hire Company Valuation Services? | Murphy Business<\/title>\n<meta name=\"description\" content=\"If you\u2019re thinking of selling a business, you should hire company valuation services early. 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