Owners of small to mid-sized CPA practices often like to “keep things in the family”, so to speak, by selling their CPA practice to an employee. But while some employees can be very good purchasers, this plan often fails. Why don’t many employees make good owners? It comes down to skills and pay. Skills These […]
The principal value of a CPA practice is represented by the goodwill and client list. The buyer desires the future fee revenues and referrals to be generated from those clients. Client retention after the sale of a CPA firm is extremely important to the buyer of the practice and to the seller of the practice […]
Many people who are starting or expanding their CPA businesses through the purchase of an existing accounting practice utilize programs of the U.S. Small Business Administration for financing. Under these programs, regular banks make and service the loans, but a portion of the loan is guaranteed by the SBA. If you haven’t applied for an […]
Selling the CPA practice you’ve spent years or even decades of your life building is a big decision. It is often important to start preparing one or two years before the sale. While there are some things you can’t alter – you’re unlikely to move your Chicago CPA practice to New York – you absolutely […]
Is it better to merge or sell your accounting practice? Usually, the answer is to sell. While selling a CPA firm is generally the best option, there are cases where a merger is the only feasible way to go.
You’ve spent years building your CPA firm, developing client relationships and cultivating your niche in the marketplace. When the time comes to sell, selecting the right buyer can leave you in a cold sweat. How do you know this person or firm will maximize your firm’s profitability, satisfy your loyal clients and keep long-term employees […]