I am pleased to announce the publication and availability of my new book Goodwill in Small Service Businesses: Negotiating a Fair Price. My book provides buyers and sellers a new way to think about and negotiate an equity price that is both rational and fair. For business brokers my approach offers a realistic pricing method which avoids the arbitrariness of rules of thumb and the useless and impractical theoretical approaches now offered by most credentialed appraisers. For users of appraisal reports such as attorneys and judges I offer a comprehensive analysis of why existing appraisal theory is just flat out wrong. Finally, for my fellow credentialed appraisers this book is a refresher course on why existing appraisal theory is largely ignored in actual equity exchanges in favor or rules of thumb and how my method overcomes the problems of existing theory and practice.
Here are two prepublication reviews that you will find helpful:
“The book is very well organized and tells a very clear and easy to follow story; clearly written; the examples are excellent and really help to reinforce the concepts conveyed in the book. Elmaleh does an excellent job of highlighting several shortcomings associated with current valuation techniques and does a good job of offering a very viable alternative that in my opinion overcomes many of the limitations of currently used approaches to valuation.”
James J. Hoffman
Co-Editor of Journal of Business Valuation and Economic Loss Analysis, Dean, College of Business, New Mexico State University
“In this exceptional book, Michael unravels the mysteries of valuing a small services business and explains how to use science rather than art to find out how much it is worth.”
Attorney, Author and Managing Partner of Thyden Gross and Callahan
A free download of a summary of the theory of goodwill can be found here.