How to Pre-Qualify Prospective Buyers for Your CPA Practice
Selling a CPA practice can be a full-time job in and of itself. Once you have made the decision to exit your practice, you must spend several months preparing for the sale. This includes organizing your financials, ramping up client acquisition, and other activities that will maximize the value of your firm. When the time […]
How to Find Serious Buyers When Selling Your CPA Practice
At some point, most CPAs reach the point when it is time to sell their practice. Retirement, health or family issues, whatever the case may be, if you do not already have a successor, there will come a time when you need to look for a buyer. If you are just in the early stages […]
Common Misconceptions When Selling a CPA Practice
When selling a CPA practice, many CPAs view the transaction similarly to selling a house or other piece of real estate. However, since the average American sells their home every seven years and the average accountant sells their practice just once in a lifetime, the sale of the practice is obviously far more important. As […]
4 Mistakes to Avoid When Selling Your Business
Deciding to sell a business can be a fantastic decision! However, the process is complicated, stressful, and relatively unexplored by business owners. These are 4 simply mistakes that people make when attempting to sell their business. Poor or Non-existent Planning: There’s a saying in business that, if you’re like me, you’ve probably heard a million […]
How to Exit From Your Franchise Successfully
In America, we celebrate our freedoms and independence. Unfortunately, some entrepreneurs feel anything but independent from the burden of a franchise they regret buying into. In general, franchising is a great way to get into a proven business model with the backing and support of a regional or national brand. However, sometimes the situation just […]
How to Prepare a CPA Practice for Sale
Selling your CPA practice is a major step. Putting your accounting firm up for sale involves proper planning to ensure you receive a good price for what is probably your most valuable asset. Ideally, the preparation time for a business sale should be at least a year or two. There are instances when circumstances dictate […]
Why do Owners Sell their CPA Practices?
At any given time, there are hundreds of accounting practices for sale throughout the United States. And with an increasing number of aging Baby Boomers, this trend is expected to continue for the foreseeable future. On the flip side, accounting services are still in high demand. While it is true that software programs have captured […]
Customer Concentration with an Accounting Practice Sale
Can I sell my CPA practice if I have customer concentration issues? Customer concentration issues in a CPA or accounting practice purchase transaction follow many of the same tendencies, as do other business acquisitions. Customer concentration does bring an increased level of risk to any purchase transaction. The risk is usually identified in the upfront […]
CPA Practice Transactions: What the Buyer Should Know Before Closing the Deal (Part II)
Continuing from Part I of our series on CPA practice transactions, here are four additional areas of the practice the buyer needs to analyze before committing to the deal: Office Equipment/Inventory: This one is straightforward; what is the approximate value of the office equipment and inventory that will be included with the purchase of the […]
CPA Practice Transactions: What the Buyer Should Know Before Closing the Deal (Part I)
With the Baby Boomer generation beginning to reach full retirement, there is an abundance of accounting practices available for acquisition. For CPA’s working for another practice or within a large organization, now may be a great time to go out on your own. However, while there are many options for buying a CPA practice, it […]