Accounting firm sales is our expertise. Learn what to do and what to avoid when selling an accounting firm.
Things have changed for so many public accounting firms as Client Accounting Services (CAS) has emerged as the profession’s fastest growing and most profitable service area. This shift is fundamentally altering how firms operate, how clients perceive value, and how entire practices are valued and sold in the current marketplace. The evolution from offering basic write-up or … Read more
What to Expect When Meeting with Potential Buyers Meeting with buyers is a big step in your sale journey. After your firm profile has been prepared and approved and our marketing efforts have sparked interest from potential buyers, we work with those buyers and share information regarding your firm. Those buyers will have executed a … Read more
Dale Carnagie once said, “when dealing with people, remember you are not dealing with creatures of logic, but creatures of emotion.” What Exactly Is an Emotion? For today’s discussion on seller and buyer emotions we need to define what an emotion really is. The Urban Dictionary defines an emotion as, a mental state that arises … Read more
Even if you are thinking of selling your firm this year, it may not be top priority with tax season right around the corner. But if selling is part of your new year, NOW is the time to list. We can get the listing set up and work with buyers behind the scenes while you … Read more
After selling over 325 firms, we have spent thousands of hours talking to buyers. Buyers view firms initially from a high level perspective, then begin to drill down to the finer details as the search for the right firm progresses. Buyers will meet with sellers to “test drive” the firm: Do I like the location? … Read more
Finding the Right Buyer for Your Firm How will I find prospective buyers? Will my employees have a job after a sale? Will my clients be well taken care of by the new owner? Will I choose the right buyer for my business? How will I be paid for my business? As you can see, … Read more
Selling your firm is complex. Whether retiring or selling your firm to pursue other interests, there are many decisions to make when placing your business on the market. Working with a Certified Business Intermediary (CBI) during the process will allow you to benefit from their knowledge and experience. Following are 5 reasons you should use … Read more
It does seem odd that something you cannot see, feel or taste can have value, but intangibles, in certain instances can have great value in a sale. We can all relate to hard assets such as land, buildings, cars, or equipment, but intangibles are harder to quantify. Trademarks, patents, copyrights, and goodwill are a few … Read more
Paul Clitheroe, President of the Financial Planning Association of Australia once said: “For many people a job is more than an income — it’s an important part of who we are. So a career transition of any sort is one of the most unsettling experiences you can face in your life.” After watching hundreds of … Read more
There will be three time your business CAN be sold: when you WANT to sell it, when you NEED to sell it, and when your heirs WILL sell it! We all like to think we are in control of everything in our lives but we have all known people that have had a “plan”, only … Read more
Selling your business will likely be one of the biggest decisions of your life. No doubt you have a good idea of what your business is worth. But there are many factors to consider when putting your company on the market. Is now the best time to sell? Should I look for a cash deal … Read more
The old adage of “don’t judge a book by its cover” is a nice sentiment, but human nature causes us to make decisions based on appearances every day. Rare is the person who can see beyond the surface and base a first impression on other factors besides looks. When preparing to sell your firm, knowing … Read more
How many times have you been convinced you knew the truth about a topic, only to discover you were wrong? Over the past 19 years, I have had numerous CPAs tell me they did not believe their firms had any value or that anyone would actually be willing to purchase their business. I have had … Read more
In our final part of this series on emotions, we will conclude with the emotions of Pride and Satisfaction. Another emotion commonly experienced by sellers is pride. The word pride usually evokes a negative connotation; however, there is a positive form of pride. Pride in a job well done. Pride in the fact that a … Read more
We have been discussing the emotions surrounding the sale or purchase of a CPA firm or tax practice. We have addressed the emotion of fear. The next emotions we will address are Excitement and Sadness. Sellers will generally vacillate between these two emotions often. As excited as they are about the possibilities of enjoying retirement … Read more
As the “Part 2” of our discussion on emotions sellers and buyers experience, we will start with the emotion of fear. In the context of selling or buying a CPA firm, all parties experience fear in most phases of the process. Fear, if not addressed, can cause us to totally shut down. A seller and … Read more
