Gene Marks on Setting a Business Price

Trying to figure out how much your business is worth? Business expert Gene Marks explains how to find someone with the experience necessary to help.

Video Transcript

The only way you can find out a value for how much your business is worth is to have somebody experienced buying and selling businesses tell you what the value is. And the best way to go about doing it rather than fiddling around or talking to people that don't know what they're talking about, is you go to an experienced business broker – and there are many experienced, ah, associations of experienced business brokers, and say I'm thinking of selling my business, maybe now, or maybe five years from now, but I need evaluation. What do you think, you know, I could sell my business for? And you go to somebody who does this for a living. That buys – because really, what you're doing, believe me, not so unique. There are plenty of other people that are doing what you're doing, so, you know, let, let that person come in and at least give you a good baseline of what, what that person thinks your business is – the best way to find out what your business is really worth rather than taking a guess.

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