Do you know the value of your business? . . .
. . . We can help you with that question.
Business Valuations
● Construction Companies
● Manufacturing Companies
● Service Companies
● Agri-Business Companies
● Professional Practices
● Hospitality Companies
● Real Estate Holding Companies
- Services Available Statewide in
Indiana -
Telephone (800) 373-1210 or (317) 216-8601
Fax (800) 229-5143 or (317) 216-5584
Click Here to Contact Us, or Email Us at [email protected]
24/7 for a Free Consultation
We provide valuations of various small
business operation types. Assignments accepted include
mostly "main
street" and "lower middle market" type companies of $10 million or less in annual
revenue. Industries covered
include.
Manufacturing
Companies
Service
Companies
Construction
Companies
Professional
Practices
Hospitality
Operations
Due to our experience and qualifications in other areas of the commercial & industrial appraisal profession (tangible assets), we are able to handle assignments involving going concerns that own and/or control major holdings of tangible assets. Unlike other business appraisers, it is not necessary for us to spend additional client time and money on hiring outside "asset" appraisers to value the tangible assets (real estate, machinery & equipment, et cetera) held on the subject business's balance sheet.
Business valuations are ordered for a number of reasons. Some of these situations may include.
● Accounting & Financial Matters
● Acquisitions & Mergers
● Allocation of Purchase Price
● Buy / Sell Agreements
● Corporate Planning
● Divestitures
● Estate Planning Matters
● Estate Tax Matters
● Financing
● Gift Tax Matters
USPAP Certified & Competent Client Confidentiality
We
are USPAP (Uniform Standards of Professional Appraisal Practice)
certified. Our education
and
experience exceeds the voluntary
"Appraiser Minimum Qualification Criteria" adopted by the Appraiser Qualifications Board (AQB) of The
Appraisal Foundation. Since we are USPAP (Uniform Standards of Professional
Appraisal Practice) certified, our reports are completed in
accordance with these guidelines. We are required to re-certify
in USPAP content
on a periodic schedule.
Qualifications
of the Principal
The principal of Schreiner Valuation
Resources LLC is Bill Schreiner. Mr. Schreiner has over
twenty-eight (28) years of diverse experience in the
appraisal, valuation, and consulting professions.
Mr. Schreiner's business
valuation experience to date includes the performance of
valuations involving entire enterprises, specific assets, and
specific equity positions. A brief listing of his qualifications are
noted below. A more detailed CV is available upon request.
Bill Schreiner
● Certificate in Business Valuations (CertBV) from the Association of Chartered Certified Accountants.
● Member - Business Valuation Association.
● Business valuation education includes the following.
- Association of Chartered Certified Accountants, London, United Kingdom.
Completed Business Valuation Certificate Modules as Follows.
Module 1 Context of Valuation.
Module 2 Strategic Analysis.
Module 3 Financial Analysis.
Module 4 Methods of Valuation.
Module 5 Asset Based Valuations.
Module 6 Multiples Based Valuations.
Module 7 Discounted Cash Flow Valuations.
Module 8 Choice of Methods in Context.
Module 9 Application Case Study.
Module 10 Reflections and Resources.
- National Association of Certified Valuators & Analysts, Salt Lake City, Utah.
Business Valuation Webinar - Evolution of Business Valuation.
Business Valuation Webinar - Financial Statement Analysis.
Business Valuation Webinar - Income Approaches.
Business Valuation Webinar - Asset & Market Approaches.
Business Valuation Webinar - Discounts & Premiums.
Business Valuation Course - Fundamentals, Techniques & Theory.
Business Valuation Course - Income & Asset Approaches.
Business Valuation Course - Market Approaches.
Business Valuation Course - Discounts & Premiums.
Business Valuation Course - Special Purpose Valuations.
- University of British Columbia, Sauder School of Business, Vancouver, British Columbia.
Course 101 Business Enterprise Valuation.
- New York Institute of Finance, New York City, New York.
Business Valuation Course - Free Cash Flows, Terminal Value, DCF & WACC.
● CAGA Certified Member Designation in the personal property discipline from the Certified Appraisers Guild of America.
● Machinery & equipment appraisal education includes the following.
- American Society of Appraisers, Washington, DC.
Course ME 201 Introduction to Machinery & Equipment Valuation.
Course ME 202 Machinery & Equipment Valuation Methodology.
- University of British Columbia, Sauder School of Business, Vancouver, British Columbia.
Course 118 Machinery & Equipment Valuation.
-
International Society of Appraisers, Chicago, Illinois.Medical Equipment Webinar.
American Furniture Webinars.
- National Auctioneers Association, Overland Park, Kansas.
Valuation of Industrial and Heavy Equipment Webinar.
- Association of Machinery & Equipment Appraisers, Alexandria, Virginia.
Fair Value Webinar.
Scope of Work Webinar.
Yellow Iron Webinar.
Packaging Equipment Webinar.
- Royal Institute of Chartered Surveyors, London, England, United Kingdom.
Valuation of Plant & Equipment under IFRS Accounting Standards Webinar.
- Certified Appraisers Guild of America, Grandview, Missouri.
Certification Course in Personal Property Appraisal.
● Certified General Appraiser License from the State of Indiana Professional Licensing Agency.
● CCRA Certified Commercial Real Estate Appraiser Designation from the National Association of Real Estate Appraisers.
● CREA Certified Real Estate Appraiser Designation from the National Association of Real Estate Appraisers.
● Real estate appraisal & consulting education includes the following.
- Appraisal Institute, Chicago, Illinois.
Course 101 Introduction to Appraising Real Property.
Course 310 Basic Income Capitalization.
Course 510 Advanced Income Capitalization.
Valuation for Financial Reporting Webinar.
- McKissock Education, Warren, Pennsylvania.
Sales Comparison Course.
Land & Site Valuation Course.
Cost Approach Course.
Commercial Appraisal Review Course.
Appraisal of Owner-Occupied Commercial Properties Course.
Appraisal of Self-Storage Facilities Course.
Appraisal of Assisted Living Facilities Course.
Appraisal of Historic Properties Course.
Advanced Hotel Appraising Course (Full Service Hotels).
Appraisal of Fast Food Facilities Course.
- National Highway Institute, Arlington, Virginia.
Real Estate Acquisition Under the Uniform Act Course.
Local Public Agency Real Estate Acquisition Course.
- Marshall & Swift, Los Angeles, California.
Commercial Building Cost Course.
- KBKG Education, Pasadena, California.
Course 101 Overview of Cost Segregation.
● Member - Society of Utility and Regulatory Financial Analysts.
● Management Certificate from Loyola University,
School of Business Administration, Chicago, Illinois.
● Over twenty-eight (28) years of diverse experience
in the appraisal, valuation, and consulting professions.
● Previously
held the position of Senior Appraiser in a regionally based
accounting & consulting firm.
● United States Marine Corps Veteran (Honorable
Discharge from Active Duty and Service-Connected
Disabled Veteran Rating from the Department of Veterans Affairs).
Valuation Methodology
The majority of business enterprise appraisals are performed for the purpose of estimating the "Fair Market Value" of an identified interest (ranging from 100% control to some form of a partial interest) in an on-going business entity (i.e. S Corp, C Corp, LLC, Partnership, Association or Sole Proprietorship). On occasion, an assignment may call for estimating the "Liquidation Value" of an identified interest (typically 100% control) in a business entity due to an issue such as in-solvency or bankruptcy.
Typically, given the constraints of the data available in the marketplace, the value of the entire enterprise must first be estimated before addressing any partial interest calculations. Although, is some situations, techniques do exist to value a partial equity interest directly. However, these circumstances are not commonplace. Normally the entity is valued, then the partial interest is analyzed.
There are three (3) generally accepted approaches to estimating value in a business enterprise appraisal engagement. These are briefly described as follows.
Asset Approach
A generally accepted approach of developing a value indication of a business using one or more methods based on the value of the subject business's assets net of all liabilities.
Market Approach
A generally accepted approach of developing a value indication of a business using one or more methods that compare the subject business to similar businesses that have been sold in an open market.
Income Approach
A generally accepted approach of developing a value indication of a business using one or more methods that convert anticipated economic benefits into a present value amount.
Once the range is established by the developed approaches, a reconciliation of the indications is performed, based upon their respective relevance to the subject appraisal problem, to arrive at a final estimation of the value for the subject business.
Additional concerns may need to be addressed in the form of discounts at the entity level, including consideration for key man issues, trapped in gains, et cetera. These discounts are normally applied to the enterprise as a whole.
If the subject of the appraisal is a partial equity interest in the business enterprise. Then additional calculations are undertaken to; 1) account for the pro-rata interest in the business (i.e. number of shares or percentage of ownership), and 2) any potential premium or discount for control or lack thereof (i.e. control interest, non-control interest, blockage interest, or minority interest).
Depending upon the situation surrounding a valuation and the data available. We will help you sort through this methodology to a clear understanding of the value to be estimated and the approaches to be applied.
The types of data we utilize in the performance of business enterprise appraisals vary widely depending upon the specific appraisal problem. These sources include the following.
● BizComps.
● Pratt's Stats.
● MergerStat.
● BVMarketData.
● KeyValueData.
● First Research.
● BizMiner.
We subscribe to numerous print media and online databases for business valuation information & data. Our resources for this data are always expanding, given the reach of the information age. This all goes together to form a solid basket of market information to form the basis of estimated values. Each of our written reports will list the specific references for the engagement that were relied upon in the performance of the appraisal analysis.
A few years back USPAP (Uniform Standards of Professional Appraisal Practice) was modified to do away with the former definitions of the type of appraisal undertaken (i.e. "limited" or "complete"). The new standard involves the "scope of work rule" in which a client and an appraiser must mutually agree upon a scope of work that is adequate for the assignment and will produce credible results.
Of course, the appraiser is charged with the responsibility of final determination on what is required to produce credible results. So an appraisal analysis may involve only one (1) approach to value, two (2) approaches to value, or all three (3) approaches to value. It is all variable on the particular appraisal problem, the subject property type, and the market data available for the assignment.
There are two (2) basic types of written appraisal reports produced for business valuation assignments. These include the following; 1) the "restricted appraisal report" narrative, 2) the "appraisal report" narrative.
A "restricted appraisal report" narrative presents "statements & basic illustrations" relative to the data, reasoning, and analyses that were used in the appraisal process to develop the opinion of value. Supporting documentation concerning the data, reasoning, and analyses are typically enclosed within the file for the assignment. This report is suitable for "internal uses only" by the named client. It is not suitable for intended uses where third party users may need to review the report.
An "appraisal report" narrative presents "summary discussions & illustrations" of the data, reasoning, and analyses that were used in the appraisal process to develop the opinion of value. Supporting documentation concerning the data, reasoning, and analyses are typically enclosed within the addenda of the report (and more fully documented in the the file for the assignment). This report is suitable for a number of intended uses and is appropriate when third party users may need to review the report.
Fees & Timing
Typical fees for assignments can range
widely dependent upon the scope of the analysis and type of
report agreed upon with the client. An indication of
the typical fee range is noted as follows.
● Businesses without real estate owned or significant machinery & equipment ($1,200 to $3,500).
● Businesses with real estate owned but no significant machinery & equipment ($1,800 to $5,000).
● Businesses with real estate owned and/or significant machinery & equipment ($2,200 to $15,000).
Timing for completion of assignments can range from a week to a month, dependent upon the size & complexity of the engagement. We can provide a solid fee & timing quote with some basic information about the appraisal problem and business to be valued.
Disabled American Veteran Owned - Schreiner Valuation Resources (SVR) is a Disabled American Veteran owned business. Bill Schreiner, who owns 100% of Schreiner Valuation Resources is; 1) an Honorably Discharged Veteran of the United States Marine Corps, 2) has a Service Connected Disability rating from the Department of Veterans Affairs (VA), 3) is a member of the Disabled American Veterans (DAV) organization, and 4) is a member of the National Veteran Owned Business Association (NaVOBA).
Schreiner Valuation Resources, LLC
Telephone (800) 373-1210 or (317) 216-8601
Facsimile (800) 229-5143 or (317) 216-5584
Corporate Headquarters
101 West Ohio Street, Suite 2000
Indianapolis, Indiana 46204
Services Available Statewide in Indiana - Business appraisals available in Indianapolis, Fort Wayne, Evansville, South Bend, Gary, Hammond, Bloomington, Muncie, Anderson, Terre Haute, Lafayette, Elkhart, Mishawaka, Kokomo, Richmond, Columbus, Fishers, Carmel, New Albany, Greenwood, Plainfield, Portage, Michigan City, East Chicago, Marion, Merrillville, Goshen, West Lafayette, Noblesville, Granger, Valparaiso, Jeffersonville, Hobart, Schererville, Highland, La Porte, Munster, Clarksville, Crown Point, Logansport, Franklin, Vincennes, Plainfield, Seymour, Shelbyville, New Castle, Huntington, Griffith, Frankfort, Connersville, and Lawrenceburg.
Schreiner Valuation Resources © 2017
