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Practice Sales Blog

 A Blog dedicated the latest happenings in the accounting practice sales industry. Including new CPA and accounting practice listings for sale.

Benefits of Using a Professional Accounting Broker to Sell Your Practice
Submitted February 06, 2009 by Admin | 0 comments

Obviously most CPAs, accountants and tax preparers know a lot about accounting and preparing taxes, they may not necessarily know much about selling their own business. This is the main reason our clients contact us (Naab Consulting). We hear different reasons for why we are hired but the majority of the time it is because we are professionals and we sell accounting firms for a living. Professionals are very busy with not only their business but also family, group commitments, etc. and can very easily run out of daylight. Trust me, 

Need Professional Help
selling your practice can be very time consuming. You may go 2 months with a prospective buyer and things are looking good until...financing falls apart, due diligence does not go according to plan, buyer backs out because of cold feet, etc. The list can go on and on. Owners will go through a roller coaster of emotions during the process and it is always easier to have a team there to keep everything in order and flowing smoothly.


Another major benefit of using a professional will be confidentiality. If employees, competitors or clients find out the business is for sale, this could be detrimental to the future success of the business. Employees may be looking for another job behind the owner's back and can leave at the drop of the hat. Owners that do not have non compete agreements in place for these staffers could be losing clients to the employee. Clients may also get wind and start looking for a new CPA. There is no real recourse for these acts if you are trying to sell your practice FSBO or for sale by owner. Naab Consulting will help you prequalify the prospective buyers along with getting signed confidentiality agreements. These agreements will prevent all prospective buyers from divulging your information to any 3rd party. This is a very valuable tool.
 
When thinking of selling your practice, I would advise to at least consult with a professional accounting broker, such as Naab Consulting, before making any decision. Our consultation is always free and our knowledge should be well worth your time.

 



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