If you are considering selling your CPA practice, there are some things you can do in order to maximize the sale value of your business. Here are five things to ensure you receive top dollar when it comes time to sell: 
Choose an Experienced Seller
Working with a professional accountancy broker will give you access to a superior array of buyers and builds demand more quickly. A professional broker will be able to move things along without alerting your clients or disturbing your staff; the increase in closing value will easily eclipse the cost of hiring the broker in the first place.
Present a Clean Face
“Curb appeal” may be something real estate agents talk about but it applies (albeit in a different context) to business sales. If a potential buyer walks into your office and discovers it disorganized, ill-maintained, and full of grumpy people, they’ll walk out without even taking a look at your financials.
Organize Your Records
If you have your financial records current, organized, and easy to access, you will appear more competent to a potential buyer. You will also allow them to create projections based on actual numbers. Making their due diligence easier goes a long way toward creating goodwill.
Don’t Rock the Boat
“Business As Usual” should be your motto to both your employees and, if any of them discover what you are doing, your clients as well. The typical CPA accountancy sells in 3-6 months during which time nothing has actually changed. Do not let it change because of something that may or may not happen at some future date.
Set a Realistic Price and Terms
Most accounting practices are sold under a client retention clause; the more clients that you lose as part of the sale, the lower the sale price becomes. As much as you may want to sell for a fixed price, the client retention clause is a good idea. It will dramatically increase the pool of potential buyers willing to consider purchasing your practice.
Selling your CPA practice can be a big step upward in your life. Take your time and make sure you perform each step to its fullest, starting with the most important decision; partnering with a professional business broker that thoroughly understands the ‘ins and outs’ of the process. We’re here to help if you need us.
