Buyer's Frequently Asked Questions

Purchasing an accounting firm or tax practice can provide you with an immediate income stream, trained staff in place, existing infrastructure, and best of all, a stable client base. The time and cost involved to develop a client base, locate and train new staff and set up the infrastructure may prove to be quite time consuming and costly.

No fees are ever paid to us by a buyer. The seller pays our commission at closing.

After the sale is completed, the transition process begins. While a seller and buyer may have made plans for this phase, it does not need to begin until the closing has been completed. The role and obligation of the seller is to be very involved in the successful transfer of the clients and the employees to the new owner and for this process to take place as quickly as possible after the sale. In some cases, face-to-face introductions may be necessary to ensure a smooth transition to the new owner.

You can start by asking yourself a few questions:

• Does the firm offer the desired mix of revenues?
• Does the firm provide enough cash flow to meet my needs and service the debt incurred to make the purchase?
• Do I possess the skills to successfully service the clients’ needs?
• Is the seller someone I am comfortable working with during the transition process?

Probably. We can put you in contact with industry specific lenders that can assist with up to 100% of your financing needs to make the purchase.  Most loans offer a 7 to 10 year amortization with a reasonable interest rate and no prepayment penalty.  Given the right circumstances, many sellers are open to offering some seller financing as well.

After closing, the transition process begins. The role and obligation of the seller is to be very involved in the successful transfer of the clients and the employees to the new owner of the business. Immediately after closing, notification letters are usually sent to all clients informing them of the sale. Face to face introductions to some clients may be necessary to ensure a smooth transfer to the buyer as well. In many cases, the seller is asked to continue working for a brief time after closing. This will be discussed as the deal terms are being negotiated and agreed upon.