You can’t sell your business without knowing your asking price. But even if you’re not planning to sell in the near future, it’s a good idea to periodically go through the exercise of valuation – determining your company’s market value - particularly if your goal is that your business continues to thrive, even without you. Think of the process as a means toward ensuring your company’s profitability and marketability.
To do this right, you’ll probably need to secure the services of a professional business appraiser.
If you’re considering putting your business up for sale, you should first clean up your balance sheet.
Getting a precise valuation is just part of the story. The terms of the transaction may be a key component in getting the price you want.