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What is a Business Appraisal?
An appraisal is an estimate of what the business will sell for (at that point in time) and is usually based upon a rudimentary assessment of the business.
Usually, an appraisal takes the profit that the business has demonstrated over the past few years, and applies a “multiple” to the profit to determine the appraised value. It can also be performed by any Broker regardless of qualifications or experience.
What is a Business Valuation?
A valuation is much more involved. Much more thorough and more comprehensive. A valuation really analyses the trading history. A comprehensive assessment of trading is conducted to understand the income and expenses that the business produces.
Valuations can only be performed, and will only be accepted by the Courts if performed by qualified valuers who have passed recognised courses and have the appropriate qualifications.
Difference Between an Appraisal & Valuation