Personal Goodwill or Business Goodwill?

Book cover titled Fourth Edition of Divorce Case Law Compendium by Business Valuation Resources

How to Value Enterprise and Personal Goodwill

Business goodwill comes from the enterprise itself in a well-established company, or, in smaller companies, goodwill comes from the personal labor and personality of the owner,  Our goal in the business appraisal is to calculate the dollar value of enterprise versus personal goodwill. There are many methods to do this, but we have developed a simplified method that has been accepted by valuation professionals and courts around the country.


We provide experienced business valuation and business appraiser service in all central Florida such as Orange County, Seminole County, Osceola County, Polk County, Brevard County, and Lake County. Florida Cities from Orlando and Lakeland to Melbourne.

Simplified Multi-Attribute (MUM)

We developed the Simplified MUM method of business goodwill analysis for appraisers, judges, and laypersons:


In 2016, nationally recognized Business Valuation Resources (BVR) published our Simplified Multi-Attribute Model of goodwill analysis in the Business Valuation Update, February 2016 Volume 22.


In 2017 Business Valuation Resources (BVR) requested peer-review comments on this model from valuation experts across the United States in BV Wire dated March 28, 2017


In 2018 our method of goodwill analysis prevailed on appeal in the State of Illinois as reported in BV Wire dated January 23, 2019.


In 2019 Business Valuation Resources (BVR) published our method of goodwill analysis in the Fourth Edition of the Case Law Compendium.

Enterprise Goodwill Attributes

  • Assemblage of Assets
  • Barriers to Entry
  • Business Location
  • Business Name
  • Business Reputation
  • Intangible Assets
  • Marketing & Branding
  • Patient list, Customer list, or Client list
  • Repeating Revenue Stream
  • Systems and Organization
  • Workforce in place

Personal Goodwill Attributes

  • Ability, Skills, and Judgement
  • Age and Health of Owner
  • Closeness of Contact
  • Comparative Personal Success
  • Marketing and Branding
  • Personal Referrals
  • Personal reputation for judgement, skills, and knowledge
  • Personal Staff
  • Personalized Business Name
  • Work Habits

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Gillmore Accounting Practice, P.L.

2431 Aloma Avenue, Winter Park, Florida 32792, United States

407-716-4795

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