Business valuation.
Businesses, leasehold rights, shares and intangible assets, valued using asset-based, income-based and comparative approaches.
Three cross-checked methods, one reasoned conclusion.
Businesses, leasehold rights, shares in operating companies, intangible assets (customer base, trading name, trademarks) and tangible assets: each valuation cross-checks the asset-based approach, the income-based discounted cash flow (DCF) approach and the comparative approach, in compliance with the French laws of 1909, 1935 and 1956 governing businesses.
Our reports support sales and transfers, including under a Dutreil pact, restructurings, shareholder disputes, divorces of business owners and discussions with the tax authorities. Reasoned, defensible conclusions, in strict confidence.
Businesses and eviction: our practiceSale & transfer
Sale of the business, gift, Dutreil pact: a value that secures the deed and its tax treatment, in both directions.
Disputes & divisions
Disagreement between shareholders, divorce of a business owner, exit from a company: the independent value that unblocks the discussion.
Hotels & operating businesses
Hotels, restaurants, tourist residences, resort shops: businesses whose value can be read in their takings as much as in their walls.
Two values, often confused, always linked.
The value of the business and that of the premises influence each other: A rent above the rental value reduces the value of the business, a favourable lease creates a leasehold right. The two values are assessed together. That is the advantage of a firm that practises both frames of reference: property and business operations.
What we are really asked.
By cross-checking several approaches: industry rules of thumb applied to turnover, capitalisation of restated EBITDA, and comparison with similar sales. The result is weighted according to the lease, the location and the real transferability of the customer base, then reasoned, because it is the reasoning that carries the value in any dispute.
The business includes the customer base, the trading name, the equipment and the leasehold right. When the activity is transferable and the customers are attached to the premises rather than to the operator, it is the leasehold right, the value of the rental advantage, that may make up most of the value, particularly when calculating eviction compensation.
Because the tax authorities can challenge the value adopted years later, with interest and penalties. A reasoned valuation at the date of transfer, with explicit methods and documented adjustments, secures the partial exemption and protects donors and recipients alike.
A business, a company or a transfer to value?
Describe your property and your situation, in complete confidence. The valuer who replies is the one who will sign the report.
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