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Business Appraisals in Michigan
Michigan, the 26th state admitted to the Union, became a state in 1837. It didn’t take long for Michigan to start driving forward, as Henry Ford began manufacturing the Model T in 1908. Michigan is known as the nation’s automotive capital with General Motors Corp., Chrysler LLC, and Ford Motor Co. all beginning there in the first quarter of the 20th century. The state is separated into two peninsulas. The lower, mitten-shaped peninsula borders three of the Great Lakes, Lake Michigan, Lake Huron, and Lake Erie. It is home to Michigan’s capital, Lansing, the state’s most populous city, Detroit, and the University of Michigan (Go Blue!). The Upper Peninsula, or U.P., is an outdoors paradise with over 300 waterfalls, fishing, sailing, and scuba diving.
Manufacturing is the name of the game for Michigan. According to the Bureau of Economic Analysis, manufacturing employs more than 629,000 people. The industry contributes 18% of the state’s gross domestic product as of Q3 2020. Besides automobiles, the state manufactures other products such as fabricated metals, machinery, food and beverage products, and chemicals. Agriculture is another major contributor to Michigan’s economy. Michigan is a leading grower of fruit in the U.S., growing blueberries, tart cherries, apples, grapes, and peaches. Locally grown foods often find their way into Kellogg’s cereals, headquartered in Battle Creek, Michigan. The USNews best states world report places Michigan as the third most affordable state to live in. Low housing costs and costs of living put Michigan as the fifth most opportunistic state in the nation!
Small Businesses Owners across the state are taking advantage of the opportunities in Michigan. According to the U.S. Small Business Administration (SBA), small businesses make up 99.60% of all businesses in Michigan. Small Businesses in Michigan employee 49.1% of all Michigan employees. The large number of small businesses in Michigan drives demand for business valuation and appraisal services throughout the state. At Peak Business Valuation, business appraiser Michigan, we have seized this opportunity to work with business owners and individuals across the state. Many business owners need a valuation when preparing to sell or grow their business. Other prospective business owners order a valuation to evaluate an opportunity, which is what Michigan is all about! At Peak Business Valuation, business appraiser Michigan, we ensure that our clients feel confident going into a business transaction. Reach out to us with any questions you may have about business valuation!
What Cities in Michigan Does Peak Business Valuation Perform Business Appraisals?
At Peak Business Valuation, business appraiser Michigan, we have performed business valuations and machinery & equipment appraisals across the state. We have recently worked in the following cities:
- Madison Heights
- Grand Rapids
- Ann Arbor
- Sterling Heights
- Battle Creek
Peak Business Valuation Performs Appraisals Across Many Industries
In Michigan, Peak Business Valuation, business appraiser Michigan has worked with many manufacturing companies, as this is the backbone of Michigan’s economy. Additionally, we have worked across multiple industries, catering to the individual needs of each industry and individual business. Below is a list of Industries we have worked with:
- Concrete Contractors
- Glass & Glazing Contractors
- Roofing Contractors
- Heating & Air-Conditioning Contractors
- Flooring Installers
- Fence Construction
- Iron & Steel Manufacturing
- Bread Production
- Textile Mills
- Apparel Manufacturing
- Shoe & Footwear Manufacturing
- Metalworking Machinery Manufacturing
- Circuit Board & Electronic Component
- Printing Services
- Automobile Wholesale
- Auto Parts Wholesale
- Jewelry & Watch Wholesale
- Lumber Wholesale
- Footwear Wholesale
- Apparel Wholesale
- Construction Equipment Wholesale
- Industrial Supplies Wholesale
- Janitorial Equipment Supply Wholesale
- Paint Wholesale
- New and Used Car Dealers
- Recreational Vehicle Dealers
- Auto Parts Store
- Tire Dealers
- Furniture Stores
- Convenience Stores
- Clothing Stores
- Jewelry Stores
- Hardware Stores
- Lumber & Building Material Stores
- Supermarkets & Grocery Stores
- Beer, Wine, & Liquor Stores
Transportation and Warehousing
- Local Freight Trucking
- Long-Distance Freight Trucking
- Moving Services
- Local Specialized Freight Trucking
- Automobile Towing
- Couriers & Local Delivery Services
- Software Publishing
- Operating Systems & Productivity Software Publishers
- Internet Service Providers
- Wireless Telecommunications Carriers
Finance & Insurance
Real Estate, Rental, & Leasing
- Truck Rental
- Property Management
Professional, Scientific, & Technical Services
- Bookkeeping Services
- Accounting Services
- Tax Preparation Services
- Building Inspectors
- Consulting Services
- Advertising Agencies
- Engineering Services
- IT Consulting
Healthcare & Social Assistance
- Primary Care Doctors
- Physical Therapists
- Psychologists, Social Workers & Marriage Counselors
- Day Care
- Urgent Care
Arts, Entertainment & Recreation
- Arcade, Food & Entertainment Complexes
- Gym, Health & Fitness Clubs
- Bowling Centers
- Fast Food Restaurants
- Coffee & Snack Shops
- Bars & Nightclubs
- Single Location Full-Service Restaurants
- Event Planning
- Auto Mechanics
- Car Body Shops
- Dry Cleaners
- Car Wash & Auto Detailing
- Pet Grooming & Boarding
- Funeral Homes
- Security Alarm Companies
- Shoe Repair
- Cemetery Services
- Tanning Salons
- Maids, Nannies, & Gardeners
- Hair & Nail Salons
- Pest Control
Why Get A Business Valuation in Michigan?
Individuals contact us for a business valuation for many reasons. Whether it’s a business transaction, a broker representing a client, a bank preparing to lend, or a business owner preparing for retirement, Peak Business Valuation, business appraiser Michigan has worked with clients in your shoes! Below are a few reasons why individuals contact us for a business valuation:
Buying a Business
We love enabling individuals to chase their dreams by purchasing a small business. We work with incredibly hard workers weekly to provide fast and accurate business valuations. These valuations help educate potential business owners about what drives the value of the business they are pursuing.
Selling a Business
Peak Business Valuation works with individuals looking to sell all or part of their business. We help sellers arrive at a listing price that won’t scare off potential buyers, while ensuring they are not leaving any money on the table.
Growing a Business: Annual Valuations
Measuring the value of your business is a great place to start to understand how to grow your business. Once the business valuation is complete, we help businesses owners identify areas they can grow their business. An annual valuation helps business owners see measurable progress that the market will recognize too.
Gift and Estate Tax Planning
We work with business owners who are looking forward to when they will transfer their business to their heirs. We provide business valuations to ensure business owners can adequately prepare to fund future estate tax liability.
Many business owners in Michigan use SBA financing to fund a business purchase. If the amount being financed is greater than $250,000, your banker is required to order a SBA 7(a) business valuation. We offer these valuations as well as machinery & equipment appraisals.
As a business appraiser in Michigan, we often work with individuals in the event of a divorce to help establish the value of their business. Getting a business valuation early in a divorce can save money and help the process go smoothly.
Get started today by scheduling your free consultation!