Services are occupations that require special training in the arts or sciences. Some require professional licenses such as architects, accountants, engineers, doctors, lawyers, and business brokers.
Businesses offering professional services present a great opportunity from both a buyer’s and seller’s perspective. At the same time, professional services also pose a unique challenge for buyers and sellers alike.
Unlike a business that offers a product, professional services companies often do not have tangible items like inventory and assets. Instead of asset valuation or liquidation value, the worth of these organizations is measured by methods such as income capitalization or income multiple.
Regardless, the evaluation or value of a professional service business tends to be more subjective than scientific. Creative Business Services / CBS-Global intermediary Mike Van is proficient in identifying and understanding the numbers behind the numbers, which is critical in buying or selling professional service businesses. We look forward to the opportunity to assist you in assessing an opportunity in professional services.
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One of the first things Creative Business Services / CBS-Global looks at when on-boarding a Professional Services client is whether now is the appropriate time to take the business to market. In fact, many clients that first reach out to Creative Business Services / CBS-Global do so for an informative understanding of market dynamics and where their company stands within their particular sector. Additionally, the task of selling a Professional Services business can be daunting, so gathering information is a natural first step. If during our initial conversions, we agree as a team that the time is right to sell, then a strategy can be developed and the business marketed accordingly. If the decision is made to plan and wait, then it’s critical that a forward-looking strategy be developed, accomplished and integrated. By selling too early, or without a strategy in place to maximize value, it’s likely that ownership might leave money on the table. Creative Business Services / CBS-Global works with business owners of Architectural, Auditing, Engineering, Construction and other professional services that involve providing specialized services and support to businesses of all sizes and in all sectors. – Mike Van, Business Intermediary
