Valuing a publicly traded company is easy; you simply multiply the company’s stock price by the number of shares outstanding. Unfortunately, determining the value of a privately owned business isn’t always so transparent. And if you operate a niche business, the valuation process can be even more complex.
Balancing your long-term objectives with family relationships can be challenging when transferring the family business. While clear documentation and open communication can make the transition easier, you’ll want to keep a few things in mind as you plan your succession.