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“What is your business model?” is a common query during the business appraisal process. Yet, it’s one many owners do not give pause to until they want to sell and realize they need to do more work before moving forward. This issue recently befell a client at Zoellner Garten & Co., the Cincinnati, OH-based company proudly serving prospective and current business owners since 1988.

Discover why this Zoellner Garten & Co. business appraisal tale is so applicable to knowing your business’ value:

A Service Business for Sale

The team at this premier business planning company recently dealt with a client looking to sell a service business. The client was in talks with a highly-qualified buyer for a little over a week, with the buyer requesting information typical of buying an established business. The client visited the Zoellner Garten & Co. office saying he needed to take his business off the market because the buyer made him stop and analyze his company’s current state.

A Time to Reflect

business appraisalThe client’s analysis showed about one-third of the markets he served were losing money. He was still earning revenue but not doing the best job of reviewing expenses and revenue for each market. The client realized he could increase his profits by as much as 25% if he eliminated the losing markets.

A Rebuilding Period

This period of reflection and analysis made the client realize it was time to rebuild his business by looking at costs from a critical standpoint, embracing new clients and severing ties with old ones, and possibly entering new markets. He and the team at Zoellner Garten & Co. encourage business owners everywhere to do the same, whether they want to sell their businesses in a few years or not. Known as business valuation, the process requires owners to provide appraisers with information and answer questions, which hopefully is the first step in implementing positive changes.

If you’re looking to increase the value of your business, schedule a meeting with the team at Zoellner Garten & Co. This company specializes in business planning, mergers and acquisitions, and business appraisals for Cincinnati and Dayton, OH, residents, as well as people in the Northern Kentucky area. Call (513) 852-2400 to speak with a friendly team member, or visit the website for more information. Like the company on Facebook for helpful business planning tips.

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