When it comes to selling your practice, it's essential to plan as realistically as possible. Here are three errors commonly made by accountants, and some tips for avoiding them:
Underestimating the value of your practice. Many "would be sellers" talk to and listen to the wrong people when it comes to setting a realistic price for their practice. In many areas, practices are selling for prices in excess of one times annual billings and sellers are demanding and getting most of their money upfront at closing.
Properly planning for the day that every owner must face. Every business owner will someday reach the point where he must exit the practice, either through an outright sale, a merger, a transfer of ownership to an employee or business partner. Take the time now, to groom your practice for that "day".
Failing to seek professional help. How many times have you insisted that your clients seek proper professional assistance with their tax problems. Use the services of a competent firm that has sold many practices over many years. The market is ever changing.
Professional Accounting Sales (PAS) selling CPA firms for over 30 years. No other organization in the U.S. represents as many accounting practice sales as PAS, with over 40,000 registered buyers nationwide, and hundreds of satisfied sellers coast to coast. If you would like to receive ongoing information on our listings for accounting practices for sale, register for email postings as a serious prospective buyer now.
Each PAS office is headed by a CPA with practical experience in the accounting profession, one who has owned his own accounting firm. PAS understands accounting firms and practice sales as no other accounting sales consulting firm can, from the inside out. PAS generates results. We have been around for over 30 years now, longer than any other accounting merger-acquistion organization! We have real offices serving you, not part-timers working out of their house as other brokers do. Many other accounting practice sales firms are nothing more than sleek looking internet sites listing practices that really do not exist.
PAS offers financing assistance of up to 100% of the purchase price to all qualified buyers on every accounting practice for sale with PAS. This allows the buyer to pay for an accounting practice over a longer period, generally 7 to 10 years, and allows the seller to basically cash out at the closing. No one else offers such a comprehensive program for accounting practice sales to both the buyer and the seller.