Podcast: Succession Planning

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March 26, 2020
Guest: Dan Pharr, Pharr Valuation

Successfully transitioning your business requires careful planning at every stage. Determining a realistic, market-based value is also critical. Dan Pharr, president of Pharr Valuation in Richmond, Virginia, specializes in business valuations of closely held and family owned businesses. A Certified Valuation Analyst and a Certified Public Accountant, Pharr has a 30-year history in the jewelry business. Previously, he served as executive vice president and chief financial officer of precious metals refiner and supplier Hoover and Strong. He is also a past chairman of the Jewelers Board of Trade.

In this episode, Pharr discusses the best practices for sellers who want to get the most value for their businesses and ensure their legacies endure. He also explains how a business valuation can improve both the short- and the long- term marketability of a company and how sellers can assist with financing and securing a sale.