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, choosing the right buyer for your business is a very important decision that can have lasting effects after the sale. When choosing a buyer for your firm, you should consider answering the following seven questions:
- Does the buyer possess a strong work ethic and a similar philosophy of practice management?
- Does the buyer have a sincere desire to be a firm owner and possess an entrepreneurial spirit?
- Is the buyer credit worthy and capable of purchasing the business?
- Does the buyer have the appropriate skills to manage staff and maintain the client base?
- Is this someone who can accept my advice as a short-term mentor for the benefit of all persons involved in the transition?
- Does this buyer have adequate experience and knowledge of the accounting and tax profession to provide high quality services to my clients?
- Are their family members supportive and excited about the future success of the business?
At Accounting Biz Brokers, it is our privilege to come alongside you, the seller, throughout the entire process. With a large database of buyers and many years of experience in negotiating deals, you can rest assured we will work hard to help you receive the price and terms you are seeking. When financing is needed, we provide buyers with referrals to industry specific lenders to assist them in completing the purchase. We provide counsel through closing and the transition phase of the deal as well. Using the right broker to assist you in this process can reduce your stress level and increase your chances of ending up with the “win- win” deal you desire.