Three similar types of businesses greatly impacted by the COVID-19 pandemic and frequently in today’s news include day spas, beauty salons and hairdressers. Whether you own a small barbershop providing haircuts and shaves or have a chain of multi-faceted spas offering many types of services, now is the time to consider the current market value of your company.
Obtaining a current business valuation will offer you an advantage if you are considering buying, selling, refinancing or taking advantage of available government incentives provided during 2020. The ability to manage your business efficiently and successfully through these unprecedented economic times thus far is a testament to your entrepreneurial prowess. Now it’s time to look at the next steps of potential growth and take advantage of a market where new opportunities may arise.
A current business valuation is important both for your existing company’s growth plan and for other businesses you may be considering that would complement that growth plan. In today’s challenging economy, understanding the true value of your business will allow you to better recognize and capitalize on opportunities ahead of your competitors. It will also help prevent you from making costly investment decisions. Additionally, once you have obtained a business valuation from a certified business appraiser, and by updating it periodically, you will remain fully informed of current market conditions, enabling you to continue staying ahead of your competition.
A certified appraiser at Business Valuation Specialists will work closely with you as an owner operator. They will walk you through the process and provide insight as to the information needed to analyze the value of your company with past, present and future scenarios considered. Since we are nationwide, our appraisers are in a position to best assess your business within a particular geographic market area and the forces that act upon and within it. Your completed appraisal will therefore give you a powerful data tool when making future business decisions.