Goodwill in Small Service Businesses

Negotiating a Fair Price

By: Michael Sack Elmaleh

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Paperback | 15 January 2017

At a Glance

Paperback
254 Pages

Dimensions(cm)
25.4 x 17.78 x 1.35

Paperback

$53.73

Aims to ship in 7 to 10 business days

Businesses such as accountants, veterinarians, barbers, hair stylists and dentists possess goodwill: they have repeat customers they can transfer to a new owner. This book provides a guide to buyers and sellers in setting a value for such firms that is both fair and rational.

Goodwill in Small Service Businesses clearly explains the many problems with existing appraisal methods, and develops an alternative appraisal approach rooted in the basic universal concepts of fairness uncovered by behavioral economists such as Kahneman and Tversky. The author’s new appraisal approach also stresses the importance of accurate forecasting of future economic returns to potential buyers and the need to utilize computer simulations to capture the risks associated with the acquisition of an established service firm.

This book will prove very useful to buyers and sellers of smaller closely held service firms as well as business appraisers, attorneys, judges, lenders and accountants. Numerous real world examples are included along with a case study illustrating the application of the author’s new appraisal approach.

Industry Reviews

"The book is very well organized and tells a very clear and easy to follow story; clearly written; the examples are excellent and really help to reinforce the concepts conveyed in the book. Elmaleh does an excellent job of highlighting several shortcomings associated with current valuation techniques and does a good job of offering a very viable alternative that in my opinion overcomes many of the limitations of currently used approaches to valuation." - James J. Hoffman, Co-Editor of Journal of Business Valuation and Economic Loss Analysis, Dean, College of Business, New Mexico State University

"In this exceptional book, Michael unravels the mysteries of valuing a small services business and explains how to use science rather than art to find out how much it is worth." - James Gross, Attorney, Author and Managing Partner of Thyden Gross and Callahan

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