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BUSINESS ACCOUNTS & VALUATIONS IN LANZAROTE



Many small business owners in Lanzarote operate their businesses under the modular tax system (see our tax guide for more information). This means that they are under no obligation to keep any accurate trading accounts for their operation. When the business then comes to be sold then many business owners will share with prospective buyers their own "records" but it is important to stress that very few businesses for sale (especially those in the food and beverage sector such as bars and cafes) will have any auditable accounts to share.

We are often asked then how can a business be valued for sale? It is important to stress that any business valuation without accounts can only be seen as subjective and will consist of a formula originally calculated by Lanzarote Business Sales that has proved to work with the changing markets. Many factors need to be considered including the business location, length of trading, licence paperwork, date of last renovations (including plumbing and electrical installations), equipment, fixtures and fittings, market value and then a consideration for what trading evidence the business owner can produce.

Although business owners generally have an idea of what their business turnover is it is often possible to make calculations based on the business purchases and resale pricing coupled with the known fixed costs, Business Finder Lanzarote will always explain what turnover figure they have been given for any business and will always encourage buyers to consider these numbers in conjunction with the figures that the owner (when possible) will share with them.

Often our clients ask us to provide accounts information to them blindly via email we politely ask all serious buyers to consider the privacy of such information and the consideration that this information being available publicly could directly affect the business they are interested in purchasing. Most business owners who have got accurate personal records for their business will be more than willing to share these with potential buyers when viewing the business through us or with a pre-arranged appointment at our office in Puerto del Carmen, Lanzarote.


BUSINESS FINDER LANZAROTE
REAL PEOPLE PROVIDING BUSINESS OPPORTUNITIES AND SOLUTIONS IN LANZAROTE



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