If you are looking for an accounting practice for sale then you need to do your homework. Buying and selling accounting practices is something that needs to be done after considerable research and financial analysis.
There are many agencies and advisors you can reach out to if you are interested in buying or selling an accounting firm. They work with brokers and independent brokers to match buyers and sellers. Of course, this type of service would often come with a fee and I have never personally used one of these firms, but if I had to guess I would say they are probably provide a very good service and are well worth the value they provide.
If you already have a practice in mind you will want to make sure you do the proper cash flow projections of the company. The next main action I would take is to contact an attorney (unless of course you already are one and you are an expert in this field). Of course, if you are this serious about purchasing an accounting practice you better develop a business plan.
Accounting Practice For Sale Financing Options
Another area you will want to consider when looking for an accounting practice for sale is to make sure you have your financing options thought through. If you already have the capital to purchase the practice then great, but if you have to borrow then make sure to explore your options. A quick Google search will reveal that there are a few loan specialists that specialize in loaning money for accounting practices for sale. Of course, it couldn’t hurt to contact the SBA to explore their financing options. You could also try a bank, but be prepared to have to provide a down payment in this case.
Additional Resources For An Accounting Practice For Sale
There are several good website, books, and manuals that give advice on buying and selling accounting practices. Of course if you go this route you will likely have to purchase these.
Another area you will want to consider when looking at an accounting practice for sale is to do your due diligence. You need to make sure the financial statement of the company you are looking to purchase are accurate, you should already be an expert in this area so it should be no surprise.
Last, but definitely not least is to maintain a positive attitude. It is not an easy process to buy an accounting practice for sale, so it’s important that you do not get frustrated and maintain a positive healthy attitude, even when things get tough and the pressure gets harder.