Handbook of Business Valuation

By Thomas L. West; Jeffrey D. Jones | Go to book overview

CHAPTER THIRTY-THREE
Valuing Home-Based
Businesses

THOMAS L. WEST

In an attempt to locate information on valuing home-based businesses, we were inundated with all sorts of businesses that could be considered home-based, along with advice on how to start homebased businesses. There are myriad books, pamphlets, and magazines devoted to starting home-based businesses and home offices. If you want to go into business for yourself working out of your home, there is virtually no end to the resources on how, what, and where to do so. In contrast, we have read nothing, seen nothing, heard nothing about how to get rid of or out of the home-based business. Either the concept is so new—which we know is not true—or no one wants to sell their home-based business, and so no one really cares what their homebased business is worth. It's almost as if, when it's time to get rid of the home-based business, the owner just sells the house, closes the business, and gets on with life.

And, yet, according to a Small Business Administration (SBA) study, “Characteristics of Employers and Employees by Employer Size,” “Of all the firms in 1992, 56.5 percent were home-based when first established … with only a small percent of home-based businesses moving out of the house [figures for home-based when first established and currently home-based do not differ by much according to study], and home-based business rates decline sharply as the firm employment size increases. Major industry figures for 1992 show that construction firms were the most likely to be home-based (81.9 percent), and finance, insurance, and real estate firms were the least often

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