I have worked with accountants across the U.S since 1980.Current database contains thousands of buyers and sellers in most major markets.
Buyers have a unique opportunity in seeking acquisitions because of the huge numbers of accounting firms changing ownership in the next few years.The mass retirement of the baby boom generation has already begun. Some estimates are 75% of accountants will retire in the next 10 years representing 49000 firms that will experience ownership changes. This is an unprecedented opportunity for practititioners to expand their accounting firms.
Buyers:
As a buyer one must recognize this expansion area and maximize the available opportunities. Additionally overall value of accounting practices may increase as there will be many less firms in practice causing an increase in fees.
Sellers:: As a seller changing market conditions call for creative exit srategies and advanced planning to protect the firm's value and to realize a price comparable to historic price levels. On average most accounting firm's sell for one time the firms annual gross. With all small businesses also experiencing rapid owner retirement, forward lookig accountants will be wise to find a qualified buyer and work in transition a period of time to ensure retention of existing clients thus adding value to the practice.
If you would like more information on my services contact me jayfurnas@Ymail.com or call 502-528-5857 8a.m-6p.m. Cst.
If you market products or services concerning this topic leave your link.Alwys welcome your comments.This blog is updated daily so check back for other information.Next topic"Buying an accounting firm with all cash vs owner financing." Again thanks for visiting!
Jay Furnas
