“The TransValuation through The Tenney Group was an extremely important component of succession planning for our51 year young family business. Additionally, clearly understanding the fair market value of our company has equipped me to confidently invest in what we believe is a very bright future for London Town Cars”
Steve Spencer, President, London TownCars, New York City
A business valuation is used to establish the worth of a company or ownership interest.
Though the process of accurately valuing a transportation business can be complex, the purpose is simple. The current value of your transportation business should influence almost every significant financial decision throughout your company’s life cycle--not just the decision to sell it.
When business owners clearly understand the value of their businesses, they make sound reinvestments in their business where the risks are proportionate to the potential rewards. When it is time to sell their businesses, they are positioned to experience the process in the most seamless and rewarding manner possible.
How often should you obtain a business valuation?
Regularly assessing the value of your transportation business will provide you the tools to improve your business value and to avoid decisions that will adversely affect your business value. The Tenney Group recommends transportation business owners obtain a professional business valuation every 12-18 months.
When is a business valuation necessary?
- Business Sales, Mergers, & Acquisitions
- Partner Buy-Out
- Transferring Ownership to a Son or Daughter
- SBA Financing
- Estate Planning
- Value Enhancement
- Strategic Planning
- Gift Tax/Estate Tax/ESOP
Why obtain a TransValuation from The Tenney Group?
The Tenney Group and our partners do business valuations under the guidelines and Code of Ethics of the American Society of Appraisers and each valuation is prepared in accordance with the Code of Ethics of the Uniform Standards of Professional Appraisal Practice (USPAP). Combine that with the depth of The Tenney Group’s transportation industry expertise and there is not a more reliable business appraisal than The Tenney Group’s “TransValuation.” Further, The Tenney Group delivers unique “added value” to transportation business owners that no other valuation service can match. If its transportation, it’s The Tenney Group.
“Over a year ago, The Tenney Group provided my company a TransValuation. The investment has proven to be worthwhile. The Tenney Group provided me a reliable value assessment for my business that we have utilized numerous times in our dealings with financial institutions and in our strategic planning for the future. The Tenney Group’s industry and transaction expertise adds unique value that is well beyond what is expected from a typical business appraisal.”
Jim Galusha, Silverado Stages, CA