THE KAWARTHA FAMILY BUSINESS GROUP SUCCESSION PLANNING – WHAT IS OUR BUSINESS WORTH Presented by: William R. Blair, CA.CBV, Partner McColl Turner LLP,

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Presentation transcript:

THE KAWARTHA FAMILY BUSINESS GROUP SUCCESSION PLANNING – WHAT IS OUR BUSINESS WORTH Presented by: William R. Blair, CA.CBV, Partner McColl Turner LLP, Chartered Accountants

Canadian Institute of Chartered Business Valuators Established in 1971 Currently about 1,100 members across Canada

Reason a Business Valuation is Required Purchase or sale of a business Shareholder or partner disputes Family Law division of property Litigation Income tax reorganizations/transactions

Business Valuations in Succession Planning Arm’s length sale (advisory role) Succession within the family (expert role)

Typical Information Required to Conduct a Business Valuation Five years of financial statements (historical) Budgeted financial information Corporate income tax returns Analysis of non arm’s length or unusual revenue or expenses

Review of legal agreements Asset appraisals Tour of facilities Interviews with management Research on industry

The Process of Business Valuation Normal time horizon Costs Use of experts (real estate appraisers, equipment appraisers, industry experts) Independence of Valuator

Business Valuations – The Approach Financial Based Assess risks and opportunities (internal and external) Common Approaches –Asset based –Capitalized earnings or cash flow –Rules of thumb

Goodwill What is it? How do we measure it? Personal vs. Commercial

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