How Much is a Business Appraisal?
A credentialed business appraisal can range anywhere from $2,000-$6,000 sometimes more. While many individuals select a business appraiser solely on price, a quality business appraiser can be well worth the fee. As with any professional service such as legal, medical care, or accounting, price is often just one consideration. Shopping for the lowest price may not always equal the best return.
There are many firms that perform business appraisals. However, the level of engagement and benefit to the owner can be vastly different. Below we discuss what factors may impact the price of a business appraisal. And then what sets Peak Business Valuation, business appraiser Utah, apart from other valuation firms.
Factors that Impact the Price
The purpose of the project is often the largest impact on the price. For instance, if the appraisal is to support litigation as in divorce or shareholder disputes, the costs may be significantly higher. This is due to the increased time and risk for the business appraiser.
Scope of the Project
The scope determines the complexity of the engagement. In addition, the scope identifies what is required for the actual valuation report.
The level of complexity also plays a large part. Businesses with clean financial statements and current tax returns can help make the process smoother. The industry, business size, and available resources can also add to the complexity.
For some business appraisals, a summary report is sufficient to meet the client’s needs. In other cases, more in-depth analysis and support are needed. For instance, appraisal engagements for the purpose of litigation may cost more because the analysis and report are held to a higher standard. Particularly because it must survive rigorous cross-examination by the opposing counsel.
On average, a valuation engagement can take anywhere from a few days to a few weeks. The amount of time it takes is often dependent on how long it takes the client to send the requested documents. Peak Business Valuation provides quality business appraisals in less than half the time of our major competitors. Most appraisals take between 4-6 business days.
What sets Peak apart from other Business Appraisers?
Peak’s mission is to help build businesses that thrive. As such we spend time helping business owners understand the value of their business. Through a business appraisal, Peak identifies areas of opportunity and growth for the company. We love spending time helping business owners understand the valuation report. And how they can use it to maximize the value of their company. Below are three main things that make Peak Business Valuation different from our competition.
We are relationship-focused and act as a resource to you throughout the process and post engagement. We ensure high-quality service focused on your needs. Check out reviews and testimonials from some of our actual clients.
2. Fast and Accurate
We are fast and accurate with an average turnaround time of 4-6 business days. That is twice as fast as our competitors
3. Focus on Small Business
Our firm focuses on small businesses with revenue between $1-$10 million. Our fees are on average 40% less than our competitors.
A quality appraiser will take the time to learn about you and your business. They will also thoroughly explain the process and ask questions. Consider the business appraiser’s work experience, industry knowledge, and accreditations.
Ultimately, you want to choose a business appraiser best suited for your circumstance. A quality business appraiser will clearly communicate the results of the valuation both verbally and in a written report. There will be several supporting methods for the final opinion of value.
Investing in a quality business appraiser can be well worth the cost. Regardless of the purpose of the appraisal, an individual can gain valuable information to maximize the value of their business whether they are looking to buy, sell, or grow.Schedule Your Free Consultation Today!