Is there a standard equation for determining the value of your shop?
I once was told 20 X 1 week sales.
It might sound like it, but this is NOT designed to be a smart-ss reply. A businees, a car, a boat…whatever… is only worth what the next “qualified” buyer will pay for it.
Having said that, I hope you kept great records that show sales, sales, sales and plenty of profit. If your selling because “you want to” instead of because “you have to”, you can (and will) get more. I like to think that the average business is worth a multiple of somewher between 1.5 and 2.5 times the average of the prior three years net earnings. If I’m buying, I’ll try to pay 1-1.5 x and, if I’m selling, I’ll ask 2.5 to start and stay firm.
Good Luck…