Need Formula to Calculate Business Market Value

[rallyracer]

Based on what you are saying about the equipment, my suggestion if you want to stay in this business long term is to pass on the purchase. The owner will try to sell, and when he does, you stay on to cement the customer relationships (the new owner will need you), then start your own shop 3-4 months after the sale and transfer the customers. Of course, if you are part owner in this business, maybe you give your stake to your partner, so you are not part of a non-compete after the sale. Basically, don't be part of the sale.

-rent a 4-6 bay for $3k/mo max
-subscribe to Mitchell1 for the order management. The business will benefit more from this than it will lack in repair detail vs All Data. Get both, if you can afford it.
-buy a good updated scanner
-buy a good evap machine (like Snap On)
-get an alignment rack asap with lift jacks
-get 1-2 9000lbs post lifts
-aim for 5 cars per day at $200 per car ($1000/day), with the goal of doubling that in 2 yrs ($2000/day).

Forget tires for now. Send them to Discount. They are very low margin, time consuming, expensive equipment and TPMS is making it a big hassle.

[asphaltgambler]

All very good advice and some of I do already know. I guess the question is now to have (on his dime) at least a CPA experienced with the auto business take a look at our numbers. Then based on that see where he thinks the market value/worth is.

Does anyone here know (approx) what a business valuation specialist would charge for a small business consult ?