Lance, thank you. Your microvaluation helped me negotiate a price on that sale on behalf of the seller, and
also helped the buyer in getting approval from the SBA lender for the purchases funds. I like
the comps you choose. They are pretty much the most important determining factor and
your experience as a business broker dealing in some many different industries really helps
in finding truly relevant comps. It is also a very useful exercise to produce the due diligence
financials you require and you also did a great job of finding the add backs adding EDITDA
and officer's compensation.~ John A. Varley, CPA Attorney
Although I’ve known Lance Schmidt for many years, I was unaware he did business valuations or was a CVA and a CBB with CABB. I had a buyer who wasn’t completely comfortable with the pricing on the business he was interested in which had been established by the seller and seller’s broker, notwithstanding that the bank had also provided a valuation for SBA lending purposes that he had to pay for. So I called my broker, Rich Schammel, who is the current President of CABB for suggestions on who could provide an inexpensive independent third party valuation for my buyer. He referred me to Lance Schmidt. I was thrilled as I knew Lance from the CABB meetings. Mr. Schmidt, for a very small fee, met my buyer’s needs. The buyer was very happy and it put him at ease. He shared it with the seller who acknowledged the valuation and Mr. Schmidt’s tips even helped in final negotiations and in closing the deal. It may not have closed without his help. I highly recommend his valuable and affordable service to business brokers, buyers and sellers. ~ Cathryn Vallevieni, V.I.B. Group
I was in the middle of the acquisition of a business, one of the scariest but most important things I’d ever attempted. While I have a lot of experience in the Industry of the business that I was buying and had worked with the sellers and knew them well, I just wasn’t sure the business was priced properly. Neither the Sellers nor I had experience in valuing the business. The Seller’s had a figure that I could not trust was fair and I had a figure that the Seller’s could not validate. We both wanted a fair deal. So I wanted to pay for a valuation to someone who would value it honestly just for me. I couldn’t find anyone who could value the business for a reasonable fee. I then found Mr. Schmidt who provided a value for the business plus a sound explanation of it along with sources from which he obtained this data. I used this data to explain to the Seller’s why I believed the value to be fair. Mr. Schmidt met my needs for a fee that didn’t break the bank and it put my mind at ease. ~ John Barkume, Owner of SRCO, Inc.
Our company needed a valuation in order to know how to price our business for an Angel Investor. When I initially talked to Mr. Schmidt I had sticker shock as I thought I needed a full valuation that would have cost me up to $5,000 and was beyond my budget. Then Mr. Schmidt suggested a MicroValuation. It was priced right and was perfect for my purpose. He completed it very fast, in a matter of just a couple days. It was just what I needed. ~ Reed Wasser, VP at Moorea Seal, LLC
