When is your fee paid?
There are no up-front fees to list your firm for sale. Our fee is paid a the time of closing.
Seller's Frequently Asked Questions
Our experience in the industry makes the transaction simple.
What happens after 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.
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?
No one likes change and most buyers do understand that the transition phase is crucial to the success of their new business. They realize the transition must be handled with care, leaving most of the day-to-day processes in place initially, until the clients and employees have become comfortable with the new owner. In most cases, the buyer will choose to retain all the employees and will continue to provide the clients with the same level of service they are accustomed to receiving. This should result 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. We use many avenues to ensure buyers are made aware of our listings, including the use of ads on our website and multiple other paid websites, ads in CPA journals, direct mail marketing and targeted email campaigns. When we get a listing, we design a marketing strategy that is designed to locate the type of buyers a seller is seeking.
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 in value. Applying a rule of thumb to the value of a firm is just a place to start the discussion. Firms located in metro areas usually bring a slightly higher price than a rural firm may bring. Even though a firm’s asking price is calculated as a multiple of the gross earnings of the firm, the discretionary earnings must be considered by buyers to determine what the firm is worth to them. The mix of services provided by a firm could affect value as one buyer may want an all-tax practice and another buyer may be seeking a firm that does a large volume of audit work. Every buyer has something specific they are looking for. We are happy to provide you with a free market analysis of your firm’s potential value in a sale. Just let us know and we can start that process.