I have a nail salon business making 570k in sale and 180k revenue per year. How much should I sell the business for and where do I go find the buyers?
Answer by Drew Steig – Quoras Own Start Up Guru
Answer originally posted on Quora.Com
The best way to determine the worth of a business is a 5x multiplier on the annual profit. This would valuate your business at $900,000. As far as where to go to sell it, that will depend on your where your business is located. There is sure to be local agencies which can help you find a buyer for a moderate fee. A simple google search will certainly turn one up. If it were me though, i would hire a dedicated manager for 1/3 of your anual profits and performance bonuses and enjoy the profit.