‣ Transportation Services
‣ Financial Services
‣ Accounting Firms
‣ Automotive Repair
‣ Waste Management
‣ Selective Service Industries
A Growing Sector
The service sector of the global economy continues to grow even with the recent economic downturn. Almost all manufacturing industries have service companies in their field to address their needs. Other service companies span multiple industries, and another group can be considered on a stand-alone basis.
The North American Industrial Classification System (NAICS) is used to classify business establishments according to type of economic activity. Of the 23 business sectors in the NAICS, 16 relate to service establishments. Without listing all of them, representative industries in the service sector include wholesale trade, retail, transportation, healthcare, and hospitality.
The various reasons for an appraisal for a service company are the same as for a manufacturing firm. The main difference often comes with the assets to be appraised. Most manufacturing concerns have significant tangible property (real estate and machinery & equipment). Companies in the service sector tend to need valuations of intellectual property (patents, trademarks, copyrights, trade secrets) and intangible assets (customer relationships, customer lists, advantageous contracts, etc).
Appraisals of companies in the service sector require experience and professional judgment. The appraisal staff at EAC Valuations LLC brings years of experience to the project, grounded in prior appraisal spanning the service sector. Our expertise grew as the service sector grew, and we have appraised an increasing number of businesses in the service sector as it matured.