Purchase - Business Sale Strategists "Political
Tuesday, January 17, 2006
Masculine Flameless Candles
Ensure continuity is a big challenge for companies. Both employers and shareholder groups end up having a limited life time. The reasons are multiple and can be derived from individuals, businesses, environmental or a combination of these factors.
The open process of selling a company can have serious drawbacks of image with different interest groups that will interact in day to day life of a company's employees and workers, customers, suppliers, banks, competitors, etc..
However, there are many situations in which an employer may be interested in transferring ownership of your company not wanting to use an open process of sale. In addition to a clear set of reasons of social responsibility that involves asking the transfer of ownership at the appropriate time, such as the maintenance of jobs have been created over the life of the company, continue to provide customer service, employing subcontractors, etc.
An entrepreneur may be interested in selling a business, or part thereof, for numerous reasons, among which would include:
- Change of business or activity.
- Focus on what is core competence.
- Building an opportunity of realizing the value created.
- Address or prevent the succession of management and shareholders.
- Reasons or personal or family preferences.
- Provide liquidity to members who have no interest in staying on the empresa.Cuando an employer decides to stop being normally intends to devote his time to other activities (business or otherwise) and recover (in whole or part) its capital. Thus, the company feels the need to seek new management and new capital.
The challenge is very important, and proof that not everyone wants or get to face is that many businesses are closed or are absorbed when their employers are unwilling or unable to continue forward, with consequent impact on jobs and business project in which the company was based.
A natural way to continue the acquisition of companies is the same for either industrial or financial groups, either by their managers, those having a management "buy out" or MBO. Any business requires three ingredients: business, capital and management. Having ongoing business and management skills (providing management), it is impossible to access adequate sources of capital.
A purchase-sale is a very important step for both the entrepreneur and the manager and for the company, and agrees not to start if not are factors indicating that there is minimal chance of success.
On the other hand, is a transition operation, as such, often requires financial resources and professional experience in excess of those that the company used in the normal course of business. The aim of this paper is to give entrepreneurs and managers the ability to analyze the opportunities and challenges of a purchase and sale of an unlisted company.
A paradigm for analysis at the time of the sale
Below is a fairly simple analytical model that focuses on the four basic ingredients without which it is possible to perform an operation buy-sell: business, the buyer and seller funds. With it you can predict with reasonable certainty if the opportunity really exists. The performance, of course, is subject to many other factors.
1.
The company's business (or part thereof) that is trying to acquire must have the minimum ingredients required for that in implementing the strategy envisaged for the future owner can realistically expect to generate sufficient value to repay the debt (if of leveraged buyout) and to meet their personal goals if you do who buy on their own behalf. Interestingly, these ingredients are not necessarily reflected in the income statement. In fact, companies loss, but with potential for recovery, are often the best opportunities for profit. And, conversely, there are profitable companies that do inevitably cease to be what the team manager.
This means that before undertaking a purchase and sale must have a strategy for the company, a first evaluation of the company, a quantification of indebtedness that is deemed necessary, achievable and affordable, and a clear definition of objectives Personal Shopper buyers. With this background framework must critically analyze the business potential of the company objetivo.El analysis of business sustainability is a key part in an operation of this type. All the necessary capital is provided on the basis of future profits that the company promises to generate. In this sense, it is less advisable MBOs with businesses that pose a high risk rating. As an element of guarantee for the future generation fund, it is essential to have a business strategy that provides clear overtones of becoming a reality. The funders of this type of operation are uncomfortable with anything that smacks of adventure. In other words, they prefer to bet on those things that managers have shown that already do.
2. Buyer
Here, the buyer can be distinguished as either industrial or financial group, or are the executives who are considering the decision to access the property. First we will restrict ourselves to think about the second case, therefore, in our view be taken into account a number of considerations that may be of vital importance for the success of the operation.
manager-entrepreneur Buyer
The management team is key in this process. Of them, and their management capacity depends on the viability of the operation. When analyzing the viability of an MBO can only bet for winning mood management teams. However, being a manager and an entrepreneur are two very different and not all managers have the characteristics necessary to become an entrepreneur, including (very important) the firm will be.
being equal, employers often enjoy more discretion, more power in the company's biggest challenges and opportunities for enrichment and the opportunity to leave the company his own fruits of their successes. In return, their responsibilities and risks, personal and financial, are multiplied in proportion possibly even higher. Moreover, managing the acquired firm managers may require professional and personal characteristics than those that required the managers within the business group or under the umbrella of the former shareholders. This applies to all key functions, whether carried out by people who are part of the buyer computer as if it were not so.
One must ask if you have the conditions and the determined will to become an entrepreneur, and if you have the proper equipment (or can get it) to carry out successful post-acquisition strategy. We speak, therefore, capacity, will and must take into account equipo.También aspiring entrepreneurs that the relationship with those of his former colleagues not to participate in the MBO will never be the same after the operation and that So the choice of the group that will participate in the MBO, and the conditions under which each part can have a significant impact on the MBO process and the success of the operation.
If the business and the manager-entrepreneur appear to exist, it is time to prepare the business plan and the basic framework of the MBO.
3. Generally
funds, managers do not have significant capital to invest in high-risk operations, and have to resort, as better alternatives, credit from vendors or to venture capital. This implies that the analysis of past cash flows and future is absolutely essential. In a matter of funds is no place for voluntarism. Financial errors in this type of operation usually lead to irreparable loss of property and sometimes, the ruin of the company.
To attract the interest of the financial partner must submit a credible management team, a coherent business plan and an attractive investment proposition. Venture capital is no less capital and as such, seeks to minimize the risk. But invests in risky and illiquid and, therefore, seeks to maximize profit potential. We will have to convince the financier that has a solid plan to perform a potentially very profitable, that the risks are anticipated and covered the most, and that the proven management team is guarantee.
The search for funding can still be confidential with venture capital firms, directly or through intermediaries. But good advice is appropriate for a legal expert before starting this phase, to be sure that you are not committing to provide third party liability company confidential information. It is very important that potential financial partners as possible intermediaries and advisers are of quality. Success will depend largely on them. This is the first step open to the takeover, and can not be ruled out that, from this point, process control becomes more difficult. If business, management and money available, it is time to make an approach to the seller.
4. The seller.
shareholder control groups.
The other key element for the operation to be viable is the shareholder. A too high level of fragmentation can be a serious drawback when considering the operation.
The negotiation at the time was able to have a small group of people who have legal representation and enough strength to make commitments on behalf of retail partners. Obviously, it is possible to carry out an MBO if shareholders do not want to sell. Equally obvious is that, above a certain price, everyone is a salesman.
The crux lies in getting buy at a good price. Sell \u200b\u200bthe company itself is very often something that arouses strong reactions and complex, at least initially. The buyer, the circumstances and conditions of the operation, and the person who raises the seller may have meanings beyond the purely económico.Generalmente, the management team is well placed to assess the conditions under which shareholders want sell, but you'd better sharpen your trial assessing how, when and by whom posed by the operation, because this really is the point of no return. How to value the current shareholders of the manager's desire to acquire his company, it is difficult to predict.
Lead the process.
When it was concluded that the four ingredients are given above, starts the actual process that will culminate in the purchase of the company by its managers. Is a delicate, complex, expensive, and requires much effort because, in the meantime, you can not neglect the management of the company. Moving from manager to entrepreneur will thus require in many cases, conditions acrobat and juggler, along with those of the new role.
technical aspects.
There is a whole work of defining the terms of the transaction, as well as the organizational, legal and personal, which ends with a detailed research process conducted by an independent team in order for investors, with reference to the management team, the resources of all kinds and the business situation of the target company. Includes a rigorous verification of the assumptions underlying the company's future plans, as well as the existence of the main assets of your property and other subjective considerations relating to it (due diligence). If success comes, the compensation will be well worth the effort and risk asumido.El facilitator of the transaction.
The facilitator's role may be essential. As a general rule, companies do these operations once in a lifetime. Consequently, both parties (ownership and management) are inexperienced in the process. In this sense, the presence of a facilitator to lead the process is very positive to ensure success.
small to midsize businesses
The challenges faced by owners of an enterprise, private or family, are very different companies that are publicly traded:
• What do the owners when they want retire and not have children who can or will happen in business? Or worse, what if one of the founders or major shareholders of the company died suddenly?
• What to do when nearly all the assets of the family is "locked" in the company and wants free part of the assets to reduce risk and at the same time continue working in the company? In the same terms, how to cancel the personal guarantees made on behalf of the company? Finally, what to do when you need capital for expansion or liquidity and can not get from banks?
• How to resolve the conflict when family members who manage the family business rather invest it for growth, while other members, who work outside the company are only interested in dividends?
• What to do when the company passed to the second or third generation and most of these shareholders do not work in the company, has no affection for her, or worse, are fighting each other?
• What to do when you want to find a partner to merge, with the objective of complementing the product range, build a network of foreign distribution, acquiring technology, using trademarks, trade names, licenses, manufacturing or other industrial or intellectual property?
· How to seize the opportunities of "Joint Venture" and / or international expansion (eg Latin America), which provides the current process of globalization?
The solution might be to admit to an investor or partner, or the company's total sales.
Normally, the first thing is to address the situations described, is to go to lawyers, auditors or tax advisors. Although these professionals are proficient in their respective areas of work are not specialists in the complex task of locating investors or sell a business. These professionals will play a role in the specific tasks of contracts, financial analysis, etc., But not so suitable in the independent presentation of a specific business area.
Although the owners of a company and industry know their business better than anyone, are not specialists in the complex task that involves selling a business. (Selling a business machismo is more complex than selling a house!). The most likely never in his life, have had to negotiate a transaction of this type.
A family business is sold only once!
This contrasts sharply with the typical profile of a buyer, usually a multinational or a financial group. These buyers make multiple purchases and are supported by professional teams. As a counterbalance, the owners of a business in Latin America must also be advised by a team with equal, or higher, owners of a company experiencia.Los not have the time to perform all essential tasks for the sale of your business .
Obviously, publishing announcements (including anonymous) is dangerous and could harm relationships with customers, suppliers, banks and employees and also alert the competition. Also, do not forget that contacts can cool misguided investors and damaging the image of the company.
To give value to a business can use quantitative and qualitative elements, based on those measurable such as the balance sheet, income statement, information on projected revenues and costs. The accounting information is distinguished group accounts whose numbers are a combination of past, present and future, so the amount that will result in no may be the market value of the company.
Then, if the accounting information system does not actually say it as a business: how can you tell? A business is worth for its ability to generate future profits (Good-Will) further than it has at any given time, ie, a business worth its net assets plus the present value of future benefits. The process to be followed to determine the market value of a company, thus not only goes through the net asset value, but much more to determining the value of Good-Will.
To calculate the value of intangible Good-Will should be a projection of cash flows without taking into account the financing costs and amortization of debt for a period fair; this projection can be defined based on criteria such as technological advances, the degree of deterioration of productive assets, the potential development of substitute products, etc..
All screenings must be made at current prices, ie, taking into account issues such as inflation, devaluation and increase or decrease in the number of units to produce and sell. The discount rate used will be a market opportunity that takes the risk according to the nature of the business and should be agreed between the parties to discuss the transaction. Please note that as we increase the discount rate decreases the value intangible of''Good-Will,''in other conditions equal.
This determination process - partly financial and partly strategic - is a likely way forward for teams buyer of a company, for which the vendor finance team should be very clear about these aspects. But beyond the cold numbers, the buyer will want to know the positioning of the company in their market segments, the knowledge that they exist, the opportunities, the projection, the power of their brands and their degree of influence. This is where strategic advisors should operate the company, which also must handle transfer times of financial information, trade and production.
Equipment needed:
· Advisor can explain Strategic Marketing Plan and Business; argue where the company is and where it goes or should go. Usually leads the advisory team. Financial
· Advisor to support and explain the company's financial statements.
· Advisor Legal that may lead to contracts and deeds to the agreement, expected risks and / or loopholes
· We will keep shareholders, unless a representative of those chosen by the advisory team, is involved in specific parts of the negotiation.
Other factors that influence the value of a company
Related
• Control Company general
· Expectations
· Capital Management
· Reports and
· Activity economic management and industrial sector
· Picture Company
· elements work
* Quality of management , honesty, image
· History Company • Resources
human and technological
Related
financial management
·
· Yield Strength
· Utilities
·
Liquidity Level of debt financial
· Costs
· Prospects for recovery
· Value asset dividends
· Policy
· Value of the company
· Value Trade-Related
market
· Sector Company that owns
* Quality of products
· Force distribution, market size, participation
• Knowledge of markets
· salespeople Rating
• Growth / decline in its core markets
· Strength Marketing Plan and Business Related
government policies
· Taxes
· Incentives Tax
economic
· Policy Conclusions
is very likely that the same business have different values \u200b\u200bfor different people, without implying any error by the usually price ranges are obtained, but should try to be close.
factors taken into account in determining the Good-Will out of future profits can be all intangible assets as intellectual property, chemical formulas, technical processes, trademarks, patents, copyright and artistic generation utilities, excellent market position, experience, good location, quality of product or service, dealing with customers, good employee relations, stability the same work, the trust because of good performance management is achieved to create in the financial sector. There are other factors of the business property, difficult to pinpoint.
For a good approximation of the value requires sufficient information and certain, and knowledge of the sector or sectors involved.
The open process of selling a company can have serious drawbacks of image with different interest groups that will interact in day to day life of a company's employees and workers, customers, suppliers, banks, competitors, etc..
However, there are many situations in which an employer may be interested in transferring ownership of your company not wanting to use an open process of sale. In addition to a clear set of reasons of social responsibility that involves asking the transfer of ownership at the appropriate time, such as the maintenance of jobs have been created over the life of the company, continue to provide customer service, employing subcontractors, etc.
An entrepreneur may be interested in selling a business, or part thereof, for numerous reasons, among which would include:
- Change of business or activity.
- Focus on what is core competence.
- Building an opportunity of realizing the value created.
- Address or prevent the succession of management and shareholders.
- Reasons or personal or family preferences.
- Provide liquidity to members who have no interest in staying on the empresa.Cuando an employer decides to stop being normally intends to devote his time to other activities (business or otherwise) and recover (in whole or part) its capital. Thus, the company feels the need to seek new management and new capital.
The challenge is very important, and proof that not everyone wants or get to face is that many businesses are closed or are absorbed when their employers are unwilling or unable to continue forward, with consequent impact on jobs and business project in which the company was based.
A natural way to continue the acquisition of companies is the same for either industrial or financial groups, either by their managers, those having a management "buy out" or MBO. Any business requires three ingredients: business, capital and management. Having ongoing business and management skills (providing management), it is impossible to access adequate sources of capital.
A purchase-sale is a very important step for both the entrepreneur and the manager and for the company, and agrees not to start if not are factors indicating that there is minimal chance of success.
On the other hand, is a transition operation, as such, often requires financial resources and professional experience in excess of those that the company used in the normal course of business. The aim of this paper is to give entrepreneurs and managers the ability to analyze the opportunities and challenges of a purchase and sale of an unlisted company.
A paradigm for analysis at the time of the sale
Below is a fairly simple analytical model that focuses on the four basic ingredients without which it is possible to perform an operation buy-sell: business, the buyer and seller funds. With it you can predict with reasonable certainty if the opportunity really exists. The performance, of course, is subject to many other factors.
1.
The company's business (or part thereof) that is trying to acquire must have the minimum ingredients required for that in implementing the strategy envisaged for the future owner can realistically expect to generate sufficient value to repay the debt (if of leveraged buyout) and to meet their personal goals if you do who buy on their own behalf. Interestingly, these ingredients are not necessarily reflected in the income statement. In fact, companies loss, but with potential for recovery, are often the best opportunities for profit. And, conversely, there are profitable companies that do inevitably cease to be what the team manager.
This means that before undertaking a purchase and sale must have a strategy for the company, a first evaluation of the company, a quantification of indebtedness that is deemed necessary, achievable and affordable, and a clear definition of objectives Personal Shopper buyers. With this background framework must critically analyze the business potential of the company objetivo.El analysis of business sustainability is a key part in an operation of this type. All the necessary capital is provided on the basis of future profits that the company promises to generate. In this sense, it is less advisable MBOs with businesses that pose a high risk rating. As an element of guarantee for the future generation fund, it is essential to have a business strategy that provides clear overtones of becoming a reality. The funders of this type of operation are uncomfortable with anything that smacks of adventure. In other words, they prefer to bet on those things that managers have shown that already do.
2. Buyer
Here, the buyer can be distinguished as either industrial or financial group, or are the executives who are considering the decision to access the property. First we will restrict ourselves to think about the second case, therefore, in our view be taken into account a number of considerations that may be of vital importance for the success of the operation.
manager-entrepreneur Buyer
The management team is key in this process. Of them, and their management capacity depends on the viability of the operation. When analyzing the viability of an MBO can only bet for winning mood management teams. However, being a manager and an entrepreneur are two very different and not all managers have the characteristics necessary to become an entrepreneur, including (very important) the firm will be.
being equal, employers often enjoy more discretion, more power in the company's biggest challenges and opportunities for enrichment and the opportunity to leave the company his own fruits of their successes. In return, their responsibilities and risks, personal and financial, are multiplied in proportion possibly even higher. Moreover, managing the acquired firm managers may require professional and personal characteristics than those that required the managers within the business group or under the umbrella of the former shareholders. This applies to all key functions, whether carried out by people who are part of the buyer computer as if it were not so.
One must ask if you have the conditions and the determined will to become an entrepreneur, and if you have the proper equipment (or can get it) to carry out successful post-acquisition strategy. We speak, therefore, capacity, will and must take into account equipo.También aspiring entrepreneurs that the relationship with those of his former colleagues not to participate in the MBO will never be the same after the operation and that So the choice of the group that will participate in the MBO, and the conditions under which each part can have a significant impact on the MBO process and the success of the operation.
If the business and the manager-entrepreneur appear to exist, it is time to prepare the business plan and the basic framework of the MBO.
3. Generally
funds, managers do not have significant capital to invest in high-risk operations, and have to resort, as better alternatives, credit from vendors or to venture capital. This implies that the analysis of past cash flows and future is absolutely essential. In a matter of funds is no place for voluntarism. Financial errors in this type of operation usually lead to irreparable loss of property and sometimes, the ruin of the company.
To attract the interest of the financial partner must submit a credible management team, a coherent business plan and an attractive investment proposition. Venture capital is no less capital and as such, seeks to minimize the risk. But invests in risky and illiquid and, therefore, seeks to maximize profit potential. We will have to convince the financier that has a solid plan to perform a potentially very profitable, that the risks are anticipated and covered the most, and that the proven management team is guarantee.
The search for funding can still be confidential with venture capital firms, directly or through intermediaries. But good advice is appropriate for a legal expert before starting this phase, to be sure that you are not committing to provide third party liability company confidential information. It is very important that potential financial partners as possible intermediaries and advisers are of quality. Success will depend largely on them. This is the first step open to the takeover, and can not be ruled out that, from this point, process control becomes more difficult. If business, management and money available, it is time to make an approach to the seller.
4. The seller.
shareholder control groups.
The other key element for the operation to be viable is the shareholder. A too high level of fragmentation can be a serious drawback when considering the operation.
The negotiation at the time was able to have a small group of people who have legal representation and enough strength to make commitments on behalf of retail partners. Obviously, it is possible to carry out an MBO if shareholders do not want to sell. Equally obvious is that, above a certain price, everyone is a salesman.
The crux lies in getting buy at a good price. Sell \u200b\u200bthe company itself is very often something that arouses strong reactions and complex, at least initially. The buyer, the circumstances and conditions of the operation, and the person who raises the seller may have meanings beyond the purely económico.Generalmente, the management team is well placed to assess the conditions under which shareholders want sell, but you'd better sharpen your trial assessing how, when and by whom posed by the operation, because this really is the point of no return. How to value the current shareholders of the manager's desire to acquire his company, it is difficult to predict.
Lead the process.
When it was concluded that the four ingredients are given above, starts the actual process that will culminate in the purchase of the company by its managers. Is a delicate, complex, expensive, and requires much effort because, in the meantime, you can not neglect the management of the company. Moving from manager to entrepreneur will thus require in many cases, conditions acrobat and juggler, along with those of the new role.
technical aspects.
There is a whole work of defining the terms of the transaction, as well as the organizational, legal and personal, which ends with a detailed research process conducted by an independent team in order for investors, with reference to the management team, the resources of all kinds and the business situation of the target company. Includes a rigorous verification of the assumptions underlying the company's future plans, as well as the existence of the main assets of your property and other subjective considerations relating to it (due diligence). If success comes, the compensation will be well worth the effort and risk asumido.El facilitator of the transaction.
The facilitator's role may be essential. As a general rule, companies do these operations once in a lifetime. Consequently, both parties (ownership and management) are inexperienced in the process. In this sense, the presence of a facilitator to lead the process is very positive to ensure success.
small to midsize businesses
The challenges faced by owners of an enterprise, private or family, are very different companies that are publicly traded:
• What do the owners when they want retire and not have children who can or will happen in business? Or worse, what if one of the founders or major shareholders of the company died suddenly?
• What to do when nearly all the assets of the family is "locked" in the company and wants free part of the assets to reduce risk and at the same time continue working in the company? In the same terms, how to cancel the personal guarantees made on behalf of the company? Finally, what to do when you need capital for expansion or liquidity and can not get from banks?
• How to resolve the conflict when family members who manage the family business rather invest it for growth, while other members, who work outside the company are only interested in dividends?
• What to do when the company passed to the second or third generation and most of these shareholders do not work in the company, has no affection for her, or worse, are fighting each other?
• What to do when you want to find a partner to merge, with the objective of complementing the product range, build a network of foreign distribution, acquiring technology, using trademarks, trade names, licenses, manufacturing or other industrial or intellectual property?
· How to seize the opportunities of "Joint Venture" and / or international expansion (eg Latin America), which provides the current process of globalization?
The solution might be to admit to an investor or partner, or the company's total sales.
Normally, the first thing is to address the situations described, is to go to lawyers, auditors or tax advisors. Although these professionals are proficient in their respective areas of work are not specialists in the complex task of locating investors or sell a business. These professionals will play a role in the specific tasks of contracts, financial analysis, etc., But not so suitable in the independent presentation of a specific business area.
Although the owners of a company and industry know their business better than anyone, are not specialists in the complex task that involves selling a business. (Selling a business machismo is more complex than selling a house!). The most likely never in his life, have had to negotiate a transaction of this type.
A family business is sold only once!
This contrasts sharply with the typical profile of a buyer, usually a multinational or a financial group. These buyers make multiple purchases and are supported by professional teams. As a counterbalance, the owners of a business in Latin America must also be advised by a team with equal, or higher, owners of a company experiencia.Los not have the time to perform all essential tasks for the sale of your business .
Obviously, publishing announcements (including anonymous) is dangerous and could harm relationships with customers, suppliers, banks and employees and also alert the competition. Also, do not forget that contacts can cool misguided investors and damaging the image of the company.
To give value to a business can use quantitative and qualitative elements, based on those measurable such as the balance sheet, income statement, information on projected revenues and costs. The accounting information is distinguished group accounts whose numbers are a combination of past, present and future, so the amount that will result in no may be the market value of the company.
Then, if the accounting information system does not actually say it as a business: how can you tell? A business is worth for its ability to generate future profits (Good-Will) further than it has at any given time, ie, a business worth its net assets plus the present value of future benefits. The process to be followed to determine the market value of a company, thus not only goes through the net asset value, but much more to determining the value of Good-Will.
To calculate the value of intangible Good-Will should be a projection of cash flows without taking into account the financing costs and amortization of debt for a period fair; this projection can be defined based on criteria such as technological advances, the degree of deterioration of productive assets, the potential development of substitute products, etc..
All screenings must be made at current prices, ie, taking into account issues such as inflation, devaluation and increase or decrease in the number of units to produce and sell. The discount rate used will be a market opportunity that takes the risk according to the nature of the business and should be agreed between the parties to discuss the transaction. Please note that as we increase the discount rate decreases the value intangible of''Good-Will,''in other conditions equal.
This determination process - partly financial and partly strategic - is a likely way forward for teams buyer of a company, for which the vendor finance team should be very clear about these aspects. But beyond the cold numbers, the buyer will want to know the positioning of the company in their market segments, the knowledge that they exist, the opportunities, the projection, the power of their brands and their degree of influence. This is where strategic advisors should operate the company, which also must handle transfer times of financial information, trade and production.
Equipment needed:
· Advisor can explain Strategic Marketing Plan and Business; argue where the company is and where it goes or should go. Usually leads the advisory team. Financial
· Advisor to support and explain the company's financial statements.
· Advisor Legal that may lead to contracts and deeds to the agreement, expected risks and / or loopholes
· We will keep shareholders, unless a representative of those chosen by the advisory team, is involved in specific parts of the negotiation.
Other factors that influence the value of a company
Related
• Control Company general
· Expectations
· Capital Management
· Reports and
· Activity economic management and industrial sector
· Picture Company
· elements work
* Quality of management , honesty, image
· History Company • Resources
human and technological
Related
financial management
·
· Yield Strength
· Utilities
·
Liquidity Level of debt financial
· Costs
· Prospects for recovery
· Value asset dividends
· Policy
· Value of the company
· Value Trade-Related
market
· Sector Company that owns
* Quality of products
· Force distribution, market size, participation
• Knowledge of markets
· salespeople Rating
• Growth / decline in its core markets
· Strength Marketing Plan and Business Related
government policies
· Taxes
· Incentives Tax
economic
· Policy Conclusions
is very likely that the same business have different values \u200b\u200bfor different people, without implying any error by the usually price ranges are obtained, but should try to be close.
factors taken into account in determining the Good-Will out of future profits can be all intangible assets as intellectual property, chemical formulas, technical processes, trademarks, patents, copyright and artistic generation utilities, excellent market position, experience, good location, quality of product or service, dealing with customers, good employee relations, stability the same work, the trust because of good performance management is achieved to create in the financial sector. There are other factors of the business property, difficult to pinpoint.
For a good approximation of the value requires sufficient information and certain, and knowledge of the sector or sectors involved.
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