This course will be a hands-on exercise in valuing a small owner-operated business using the market approach. Two appraisers will walk through the valuation of a business with $5 million to $10 million in revenue using the same fundamental financial information but different valuation tools. The results are meant to highlight the differences in value based on a selected market approach and the use of different databases. The training will use multiples derived from private transaction databases (specifically BIZCOMPS and DealStats) in comparison to a guideline public-company approach using BVR’s Guideline Public Company Comps tool. Takeaways will include the difference in conclusions between control and minority ownership as well as a general discussion of the reconciliation of the two values and the implied value of intangible assets and goodwill.