a broker is an option, but you have things to decide first.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: we are contemplating selling our firm. it’s a difficult decision due to the financial rewards and the enjoyment we get from our work. i am 63 and my wife-partner is 62 and we are not in a hurry.
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we would like to sell to a cpa who would be very committed to this business and our clients, many of whom have been with us for over 20 years. how should we start?
answer: i don’t think it is too difficult to sell accounting practices – there seem to be more buyers than sellers. i suggest not “advertising” that you want to sell, but start meeting with firms about two to three times (or more) larger than you are so they would be able to absorb your practice comfortably. the meetings now will give you a feel of who is interested and serious in your practice.
you need to be careful who you sell to since you are extending credit to them and they need to be able to make the payments. some banks promote that they provide funds to buyers and the sba can finance buyers so you can get a good part of the payments up front.
an effective way is to engage a broker – there are many who are quite good. they have better resources to find the right buyer. they can also help you price your practice and structure the deal. i know a number of buyers and sellers who have used brokers and they are all happy with the results.
i think your first step is to decide what you really want to do, whether you really want to retire, the timing, and what you might need to receive. only when you are clear with that should you proceed.