Do I Need an Appraisal Before Transfering My Family Business? 

Making a large decision regarding your family business can have major financial and emotional consequences—your business is something you’ve invested far more than just money in over the years. Which is why if you’re thinking about transferring your family business, having as much information as possible is important. Here’s what you should know about the value of getting an appraisal before transferring your family business—

Why You Should Consider an Appraisal Before Making Any Family Business Change

Getting a business appraisal for your family business is an important step before making any large change regarding your business. This is because the results of the appraisal will provide you with valuable information that helps to inform your decision-making. Some of the top benefits of getting an appraisal as a small business owner include:

• Knowing more about the company’s assets and how those assets are valued
• Understanding the resale value of your business
• Having access to more investors
• Being able to position your business to acquire more capital
• Access to more knowledge that can aid you during negotiations in business deals
• Obtaining a true, accurate company value that is based on more than just knowing how your business is currently performing in the current market

What Goes Into a Business Appraisal?

When you get a business appraisal, the business appraiser assigned to your case will be a professional who has experience assessing the value of businesses like yours. The appraisal will consider things like the value of your business’s assets (real property), the economic risk and benefit that someone would derive from investing in your business now, or/and how your business compares to other businesses in the current market. 

Services Offered By Allstate Appraisal for Family Businesses

At Allstate Appraisal, we have experience in commercial business appraisals, residential appraisals, and appraisals of small, family-owned and -operated businesses. We know that the outcome of the appraisal can have a big impact on your future and the business’s future. If you’re thinking about transferring the business, an appraisal can provide you with information about how to structure the financials of the transfer, and can also provide the new leadership with the information they need to confidently chart a course forward. 

Call Allstate Appraisal Today

To learn more about our appraisal services for family-run businesses like yours, reach out to our team directly today. We provide services for businesses in Illinois, Indiana, and the surrounding areas and are a trusted appraisal company. Call today to get started.