What is an Earnout in an Accounting or CPA Practice Sale?
An earnout in any transaction means a seller will not receive all the money he is due until certain financial components or targets are met. A seller’s price for their business is contingent on some performance metrics set by the purchase contract. There is usually some cash out to the seller at close in these deals, but […]
Top Reasons CPAs and Accounting Firms Choose to Sell Their Practice
There is a myriad of reasons why anyone would sell their business. This concept also applies to the accounting practice industry, along with a few industry-specific nuances. The number one reason that a principal or principals decide to sell their firm by far is retirement. This is not the only reason, but most practice sales we […]
Transferring Your Lease after a Business Sale
Selling a business involves more than just selling the name, equipment, inventory, goodwill, and clientele. In many cases, you will also be turning over the physical location of your business to the new owner. And if you have an active lease for the commercial space that you occupy, then the buyer will probably want to […]
When to Sell Your Business
You might be considering whether now would be a good time to sell your business. If you look at the very strong seller’s market in residential real estate, you can’t help but wonder if similar things are happening with business sales. There is certainly plenty of optimism among CEOs and CFOs. According to Dykema’s annual […]
When To Think About Selling Your Business
If you have been in business for a while, you have probably found yourself wondering (at least occasionally) what things would be like if you were free of the stress of owning your business. Perhaps you are not as passionate about the business anymore, and running it is becoming more of a struggle. But maybe […]
Why Should I Consider Financing the Sale of My Business?
Deciding to sell your business is one of the most consequential decisions that you will likely ever make. Commercial transactions like these are significantly more complicated than purchasing or selling a piece of residential property, for example, and there are a lot of factors that go into a successful sale. When you are looking to […]
Importance of Owner Flexibility When Selling a Business
Selling your business will most likely be among the most complicated transactions you will ever be involved with. It will take a lot of time and preparation to get the business ready to put on the market, and it could take several weeks or perhaps months to find the right buyer. In the current economic […]
Are You Really Ready to Sell Your Business
You have worked for years to build your business. You have put in countless hours of blood, sweat, and tears, and you have turned it into a successful enterprise. But now you are thinking about getting out. The decision whether to sell a business is most likely one of the most important decisions of your […]
Why the New Year is a Great Time to Sell Your Business
For many people, the New Year is a time for reflecting on where they are in their lives and creating resolutions in areas where they want to make improvements. This is also a time to consider pursuing new career opportunities or perhaps retirement. If this means the possibility of selling a business in your case, […]
What to Look for When Choosing a Business Broker
Selling a business is often a once-in-a-lifetime transaction, although some entrepreneurs have started and sold multiple businesses in their careers. This process can seem overwhelming for most owners with very little experience with the business sales process. A successful business sale starts long before the business is on the market. There is a lot of […]
