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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?

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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.

https://www.quora.com/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/Andrew-Steig