Want maximum cash at closing? An SBA 7(a) loan might be your firm’s best bet. In Brief The Small Business Association’s 7(a) Loan Program provides an alternative for CPAs whose loan request to finance an accounting practice sale has been rejected by conventional lenders. One of the best features of SBA 7(a) loans for CPAs […]
Buyers and sellers both must play leading roles to ensure a smooth transition and maximize retention. In Brief Among the essential elements for maximizing client retention in an accounting firm sale are reassuring clients with effective communication about the deal, minimizing changes in the first couple of years after the closing, and implementing a strong […]
Avoid the Costly Mistake of Choosing the Wrong Buyer The largest transfer of firm ownership in the history of the accounting profession is now underway. Owners of CPA practices are retiring in record numbers. Regrettably, many of these Baby Boomers have no internal succession plan in place. Often, the best alternative to an internal succession […]
Knowing how to avoid major hazards when seeking a buyer can make all the difference between a profitable conclusion and a disastrous outcome. In Brief CPAs seeking to sell an accounting practice should avoid revealing too much information upfront to potential buyers, who could leverage that information to poach clients and employees without buying the […]
Common misconceptions can cost CPAs dearly when they sell a public practice. Fortunately, better options are available. In Brief CPAs looking to sell an accounting practice have alternatives to popular deal structures and terms that favor buyers. Sellers of an accounting firm can often determine a proper sale price via a methodology that uses seller’s […]
Older owners and accounting professionals love their paper. They love their folders and three-ring binders. When staff accountants sign off on their final workpaper and think they’re done preparing a tax return or other accounting engagement, think again! You still have to print out all the workpapers, the entire tax return, then put hole punches […]
What’s the most difficult part of running a business? People! Clients who won’t pay their bills and employees who constantly ignore company policy are examples of individuals who can be two of the biggest culprits that can make running an accounting practice occasionally stressful. Businesses would be so easy to run if owners didn’t have […]
Minimizing risk should be as important as maximizing the sales price and terms of an accounting practice for sale. Assuming you have used our proven methods and have identified a qualified buyer from a competitive pool, whom you judge to be the right fit for your CPA practice for sale, and who appears to be […]
Assume for a moment that you are a CPA determined to sell an accounting practice. From trade secrets to customer database lists, you are about to provide potential bidders and direct competitors with a host of confidential information. Can you imagine freely handing over these critical pieces of strategic information with no protection for yourself […]
If you are serious about getting the maximum market value in an accounting practice sale, the most important task is finding the right buyer. There are a myriad of criteria you should look for in an accounting practice buyer. This subject has been discussed in depth at the following link: https://accountingbroker.com/5-questions-for-prospective-buyers-accounting-firm-sale/ However, there are CPA […]