Buyer's Frequently Asked Questions

You can start by asking yourself a few questions: Does the firm have a good reputation? Can I work with the firm owner to achieve a successful transfer of the clients after closing? Do I like the mix of revenues offered by this firm? Does the firm offer enough cash flow to meet my needs? Do I possess the skills to successfully service the clients’ needs?

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.

Purchasing an accounting firm or tax practice can provide you with an immediate stream of revenues, trained staff in place, existing infrastructure, and best of all, a stable client based to name a few. These advantages alone could save you countless hours in marketing to develop a client base, training new staff members and setting up the office from the ground up.