When you run your own small business, you know better than anyone how quickly and dramatically things can change, and how often these changes can be entirely out of your control. Purchasing fads, current events, competitors’ actions and the economy can all have a huge impact on a business, but there is one thing that can outweigh all those factors: disasters.
By disasters, we mean fires, floods, earthquakes and any other unpredictable tragedies that could leave your business in shambles, literally and figuratively. These disasters are not in your control—but you do have some power over whether or not your business survives.
By routinely investing in an inventory appraisal from a qualified appraisal service in Maryland, you can ensure that your company is financially protected in the event of an earthquake, fire, major storm or other similar natural disaster. Here is a quick overview of how the process works, and how to find a quality appraisal service in Maryland to provide it for you.
How it works
An inventory appraisal is really a fairly simple concept: you hire an unbiased third party to review everything physical your business has, from retail stock to packing supplies to scrap lumber. The appraiser will then give you a highly accurate estimate of how much all of your inventory is worth, and you can use that appraisal to back up your insurance claims in the event of an unavoidable disaster. An inventory appraisal is the most precise, reliable and trusted way to ensure your business does not lose money because of a fire, flood or other tragedy.
Typically, your appraiser will break up your inventory into different categories, including but not limited to retail items, wholesale stock, raw material, manufacturing goods, packaging materials, obsolete objects, scrap and more. Virtually any business with physical property could benefit from an inventory appraisal.
That being said, a big factor in determining just how accurate, trustworthy and valuable your inventory appraisal turns out to be is the reputation and qualification of your appraisal service in Maryland. Let’s take a closer look at how you ought to go about hiring one.
Finding the right appraisal service in Maryland
With something as important as an inventory appraisal, you want to make sure you are hiring a high quality and respected appraisal service in Maryland. To ensure that is the case for you, be sure to first ask for proof of certification, which should be easy for an appraiser to produce. After that, take a look at their experience, online reviews, referrals, other specialties and anything else that might affect the quality of the job.
Finally, we must advise that you be very wary of any appraiser that offers a completely free appraisal. Chances are, they have some sort of hidden motive, be it a scheme or a lack of qualifications.
Jane Campbell-Chambliss & Associates, LLC has been providing inventory appraisals and other appraisal services since 2008. For more information, please feel free to get in touch with us anytime. Our team looks forward to hearing from you.