Accounting Practice Intermediary – Our Managing Partner was an equity partner in a top 25 CPA firm. This provides us with the insight and perspective necessary to effectively represent you in the sale of your practice. We listen carefully and remain sensitive to your unique requirements so that you are satisfied with the end results.
- Is there only one way to sell/finance the sale of my practice?
Actually, there are many financing options available to sell accounting practices. Our Specialists will help walk you through the financing options to help determine which would be the most beneficial for you. Here is a brief look at some of the options available.
- Cash Pricing
This is where the seller receives the entire final price at closing. The buyer may receive the cash from any place, including lenders and personal funds. This option leaves the seller without any risk and often gives the buyer great terms.
- Collection Pricing
This is a seller financing option. The buyer will typically put down a large piece of the deposit (like 20%), and then the rest of the money is collected from a percentage of the sales over the next few years. The amount of deposit, number of years, and percentage of sales are all negotiable. This is the traditional financing option for practices; however, it puts the majority of risk that the business will prosper upon the seller. To keep the future calculations as simple as possible, all of the terms and conditions need to be as clearly spelled out as possible.
- Look-back Pricing
Some buyers may be uncomfortable with completely assuming all of the risk in taking on an existing practice. Look-back pricing is an option where the Seller assumes the client risk of the first year. In this financing option, the buyer and seller agree upon a price, and the buyer pays a down payment. After the first year, the revenues generated by the practice are reviewed, and the final price is adjusted up or down according to the difference in revenues generated. The amount of the adjustment is determined by the buyer and seller in the negotiations. For example, the adjustment can be as little as $.50 per $1 or $1 per $1 in revenue differentiation.
- Fixed Seller Financed Pricing
After agreeing upon a final price, the buyer pays the seller a percentage of the revenues over a period of time. Unlike Look-Back Pricing, there is no adjustment in the final sale price of the practice.
- Cash Pricing
- Does my practice need to have a valuation?
Our qualified accounting industry specialists will review your financials, unique aspects of your business, market conditions, and competition to help you determine a reliable approximation of your practice’s value or what we call an “Opinion of Value”. Our team has years of accounting industry experience necessary to sell accounting practices, and we will help you determine how much your practice is worth so that together we can optimize the price and terms during this critical life decision.
- Will my sale be kept confidential?
Our staff specializes in keeping all aspects of the sale, including marketing, extremely confidential. Only general summaries of your practice information are used when looking for buyers. All interested buyers are thoroughly screened and sign non-disclosure agreements before any specifics about your practice are revealed.
- Will my practice be marketed?
Yes. Once you have decided to work with us, our team will review your practice to find its greatest assets and selling points. Then, those selling points are used to attract potential buyers using our 45 point marketing plan to draw multiple bidders.
- How do you find prospective buyers?
Working in the industry every day for decades our team has a substantial list of prospective buyers that are looking for practices to purchase. Some of the buyers include national, regional and local firms that are looking to expand as well as CPA’s looking to launch their own Florida practice.
- How do you screen buyers to find the best fit for my practice?
Our buyers submit their financials and credit reports for review. Then, the buyers are asked a series of questions about their credentials and experience to determine if they are truly qualified and interested in your business.
- Will you kept me informed and involved in the selling process?
Yes! Our goal is to make this as painless as possible for you not to make you more unsure and nervous. We will be in constant contact with you throughout the selling process, and we will consult with you about every aspect of the sale, including contract issues, client retention, practice valuation, non-compete, terms of sale, and financing issues.
- Will you help with the negotiations?
One of the best benefits of working with our team is our diplomatic skills. Our years of experience have helped us learn what to look for in terms and conditions and how to handle the stressful negotiation process. We will work with you to make sure your concerns are heard and help you to understand what the buyer is asking for as well. We will help you build the bridge to a win/win transaction.
- Will you help me through the closing process?
We will be there with you through the end of the sale of your accounting practice. Often, important details can be overlooked. Our experience has taught us what to look for and make sure is completed during the complex closing process.