If you’re selling a business in Naples, Florida, you might find a deep-pocketed buyer in the jewel of Southwest Florida.
The city was founded during the late 1880’s. It has the second highest proportion of millionaires in the entire United States.
Naples in the late 19th Century was promoted as having abundant fish and game to rival its Italian coastal sister city. It is now known for its wealth, possessing the sixth-highest per capita income in the country, data shows from 2012.
So you’ve decided to unload your life’s work in the tony environs of Naples? What is it is worth? To help you determine your business valuation, check out this business valuation calculator.
You will need to input three fields: industry, last 12 months sales and last 12 months profit plus your salary.
You can find the last 12 months of sales by consulting an income statement. A Profit & Loss statement will give you last 12 months of profit plus the owner’s salary.
The industry is critical and can make a huge difference in the valuation. For example, if you are a medical or chiropractic practice, you will have greater valuation than, say, a coffee shop because the industry sales multiplier will likely cast your industry with greater long-term value and stability than a food service business.
Is it this simple? Crunch the numbers and now you are selling a business in Naples, Florida to millionaire?
As you can imagine, the answer is no.
The calculator above doesn’t take into effect intangible assets of your business such as brand identity, management team experience and knowledge not to mention assets like large equipment, furniture and fixtures, computers and patented technology.
To truly determine your business valuation when selling a business in Naples, Florida, consider these intangible assets. For a more precise number, talk to a business broker like Truforte Business Group that has more than 25 years of experience selling businesses.
You probably wouldn’t put your house up for sale by yourself? Then why go it alone when selling a business in Naples, Florida?
A broker has greater feel for an exact business valuation given the number of deals that they’ve done and the industry groups they belong to.
When selling a business, you can capitalize on the wealth of the market and use a simple calculator like the one above to get a ballpark number of what your business is worth. Although every industry tends to be a little different and a restaurant valuation can be much different than a software business valuation for selling a software company.
For greater certainty of your business valuation and a better chance of selling your business at a higher price, contact a Truforte Business Group associate by filling out the form below.