Is Your Business Charging Enough for its Products and Services
Every business owner understands the importance of generating enough profit to stay afloat. But how do you know if you are charging enough for your products and/or services? Pricing is just as much an art as it is a science, and there are several different variables that go into deciding how much to charge for…
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Are You Sitting on Untapped Business Investment Capital
Many individuals would like to go into business for themselves, but they lack the capital to get started. This is especially true if they are trying to purchase an existing business or get into an established franchise brand. These options typically require at least a six-figure investment, which is beyond the reach for a lot…
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Five Important Benefits of Doing a Business Valuation
Most owners do not obtain a valuation for their business unless there is an immediate need to do so. But even if you are not looking to sell your business in the near future, it is still a good idea to obtain a business valuation if you have not done so during the past couple…
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How to Identify the Strengths and Weaknesses of Your Business
Every business has areas in which they excel, and areas where they are not quite up to par. And even in the most successful businesses, there are always opportunities for improvement. Identifying the strengths and weaknesses of a business is a good thing for owners and stakeholders to do on a regular basis (at least…
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Importance of Online Marketing for Businesses
Digital marketing has become increasingly important in recent years, particularly for businesses that cater to the younger generations. But with the coronavirus outbreak having literally forced a large percentage of our population to stay-at-home (except for essential activities), even our older population has started to get used to interacting with businesses online. Those businesses that…
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Understanding Business Valuation
This is a trying time for business owners in many industries, and to add insult to injury, many of them have been unable to obtain access to the government assistance that was promised. This has left countless business owners wondering if they will ever be able to come back, and unfortunately, some have decided to…
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How to Keep Clients after Purchasing a CPA Practice
When someone buys an accounting practice, the major asset they are buying is the current book of business. Although there may be office furnishings, equipment, trained employees, and earned goodwill, the one thing out of all of these that is producing ongoing revenue is the client base. And for every client you lose, it will…
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Getting the Most for Your Accounting Practice
Accounting Practice and CPA Valuation vs Fair Market Value Every CPA and accounting practice for sale is different. In addition, each potential buyer of accounting practices enters the discussion with their own set of variables that hold importance in their business plan and to them personally. This is why the true definition of “Fair Market…
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How Much is My Business Worth
Most business owners reach a point when they want to move on to the next phase in their lives. At that point, the question “what is my business worth?” becomes of paramount importance. Even if they are not looking to sell right away, it is good to know the value when the time comes. Businesses…
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Important Considerations when Valuing a CPA Firm for Sale
Selling an accounting practice is a complex endeavor. The typical sales process will involve several steps over the course of multiple months before the transaction is completed. One of the most important factors in the success of a CPA practice sale is placing a proper value on the firm. If the price is too high,…
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