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The valuation of fast food outlets in Australia : methodology, analysis and reliability

Elliott, Peter and Reed, Richard 1997, The valuation of fast food outlets in Australia : methodology, analysis and reliability, in The Cutting Edge 1997 Conference : Proceedings, Royal Institution of Chartered Surveyors (RICS), London, England.

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Title The valuation of fast food outlets in Australia : methodology, analysis and reliability
Author(s) Elliott, Peter
Reed, Richard
Conference name The Cutting Edge Conference (1997 : London, England)
Conference location London, England
Conference dates Sep. 1997
Title of proceedings The Cutting Edge 1997 Conference : Proceedings
Editor(s) [Unknown]
Publication date 1997
Conference series Cutting Edge Conference
Publisher Royal Institution of Chartered Surveyors (RICS)
Place of publication London, England
Summary Fast food outlets are a significant sub sector of the Hospitality and Tourism Property Market and a specialized form of business. This form of hospitality outlet has experienced significant growth and change in the last 20 years. Their value as an asset is therefore of significant interest to many involved in the tourism and hospitality industry, not least fast food operators or potential operators and their financiers. However, little attention has been given in professional and academic literature to valuation methodology, the analysis of the major components of asset value, and the underlying factors which influence asset value. As such the reliability of the valuation process could justifiably be questioned.
This paper sets out a working definition of a fast food outlet. It investigates the major determinants of value with respect to asset value and examines the accepted methods of valuation of fast food outlets in Australia as well as establishing the methods most commonly used. It clarifies the major components of asset value and examines to what extent these have changed with the changing business environment. In particular it isolates the role of Goodwill in assessing Going Concern Value. Sources of data include a comprehensive literature review and personal interviews with professionals involved in the valuation process. The paper concludes that an efficient valuation process requires that fast food outlets be considered as both a real estate and business investment. The contribution of both tangible and intangible assets to the value of the asset must be identified.
Notes
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ISBN 0854068643
Language eng
Field of Research 150403 Real Estate and Valuation Services
Socio Economic Objective 900299 Property, Business Support Services and Trade not elsewhere classified
HERDC Research category E1.1 Full written paper - refereed
Copyright notice ©1997, Royal Institution of Chartered Surveyors (RICS)
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022344

Document type: Conference Paper
Collections: School of Management and Marketing
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