Our experience in the industry makes the transaction simple.
When is your fee paid?
There are no up-front fees to list or to register as a buyer. Our fee is paid at the time of closing by the seller.
What happens after closing?
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. Of course you will be notifying all your clients about the sale and in some cases, 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 period of time after closing. This will be discussed as the deal terms are being negotiated and agreed upon.
How is my confidentiality protected?
Every buyer is required to execute a confidentiality agreement prior to receiving any sensitive information about any listing. The seller’s identity is protected until such time as a buyer and seller are ready to have their initial meeting.
How do I know my clients and employees will be taken care of?
Nobody likes change. But most buyers understand that transition is crucial to the success of their new business. They realize the transition must be handled with care, leaving most day-to-day operations in place until the clients and employees have become comfortable with the new owner. In most cases, the buyer chooses to retain the employees and continues to provide the same level of service the clients are accustomed to, resulting in a successful transfer of the business.
How will you locate buyers?
At Accounting Biz Brokers, we have spent years marketing to buyers and have developed a large database of active buyers ready to purchase a firm. Additionally, we continually market to locate new buyers as well. Once we become familiar with a new listing and the goals of a seller, we will also tailor our marketing strategies to reach buyers that meet your needs. The truth is, most sellers only know a couple of prospective buyers to approach about a sale. Limiting exposure to just a few buyers can adversely affect the sales price and terms of a deal.
Why should I sell through a CBI (Certified Business Intermediary)?
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? What terms should I consider in a sale? Which buyer do I choose? Working with a professional business intermediary will provide the expertise to help you make those decisions. Consider teaming with a Certified Business Intermediary (CBI), a professional who fully understands what it takes to successfully sell a business. A CBI can bring significant value to the complex process and help you have peace of mind that you are in the hands of a professional. A Certified Business Intermediary, or CBI, is the designation awarded by the International Business Brokers Association (IBBA) to members that have met certain educational requirements and ethical standards. IBBA is the largest international, non-profit association operating exclusively for the benefit of people and firms engaged in the various aspects of business brokerage, mergers and acquisitions. To earn the CBI designation, an IBBA intermediary must complete requirements in the areas of: Education, Experience, and Knowledge, and must understand the IBBA’s Code of Ethics and apply the code to his or her business practices. A CBI’s experience and knowledge of current marketplace conditions is critically important for anyone looking to sell a business. If you are considering the sale of your business, you need every advantage you can garner, primarily preparation, experience and knowledge. All of our brokers are CBIs, so rest assured you will receive personalized professional service from our entire team!
What is my practice worth?
We know from experience that all firms are not created equal, therefore trying to apply a rule of thumb to the value of your firm is certainly just a place to start our discussion. Location, discretionary earnings, and the mix of the firm’s revenues are some of the main characteristics to focus on when analyzing a firm’s value in the open market. We would be happy to provide you with a free market analysis of your firm when you are ready to sell.