2024: The Year of Preparation

If we could pick a word to summarize 2024, it would be “preparation.” One of our mottos at Resolution Equity Partners is, “partnering with you now, preparing for the future.” One of the ways that we help business owners prepare for their future is through our Estimate of Value (EOV) service. In 2024, we provided this service for roughly 20 businesses in the region.

An EOV is a comprehensive assessment of a business’ value. We complete this assessment by doing a thorough review of a business’ financials and comparing that to trends we see within the industry, which allows us to determine a likely sell probability and price range. The EOV also helps us pinpoint areas of the business that need improvement to increase its value.

The benefits of the EOV are not limited to businesses preparing to sell. EOVs are useful in many different situations, including:

• Owners looking for ways to increase the value of their company

• Families strategizing how to pass their business to the next generation

• Business partners preparing a buy/sell agreement

• Business partners choosing to part ways

• Owners setting up insurance policies for unforeseen emergencies

Additionally, it’s important to remember that life is unpredictable. Circumstances arise that change our plans. Being prepared can help us better navigate the unexpected.

When we think about “preparation,” one of the businesses that comes to mind is Ultimutt Dog Care. When the owners of Ultimutt first started working with REP, they weren’t ready to sell. However, they still took the right steps to prepare their business for whatever its future held by getting an EOV. Eventually, they sold their beloved company to the perfect buyer with peace of mind because they were prepared. You can read more about their story here.

Simply put, preparation is wisdom. If you are a business owner, 2025 could be the year that YOU fully prepare your business for whatever the future may hold and Resolution Equity Partners can help you every step of the way.

Are you ready? Contact us today to get started.