7 Steps to a Confident Sale
Start preparing now for a successful sale of your accounting firm. Whether your goal is retirement, succession, or simply exploring the value of your firm, early planning is key. Accounting Firm Sold (AFS) specializes in guiding accounting and CPA firm owners through every stage of the sale process—from evaluation to closing.
1. Clarify Your Goals
Understanding your objectives and timeline shapes your exit strategy. Determine your ideal timeline, desired post-sale role (full retirement, transition support, or merger), and financial goals.
2. Review Your Practice
A well-organized practice sells faster and for more. Review your practice and evaluate important value criteria:
- Financials: Maintain clear, detailed, and up-to-date statements
- Owner Dependency: Create systems that promote a sustainable work-life balance
- Operations: Streamline technology, workflows, and clarity with staff and clients
- Client Base: Build client growth and solidify retention with quality relationships
3. Request a Practice Evaluation
Gain a professional opinion on your firm’s marketability and value. Your first step is a free and confidential Practice Evaluation. Our Accounting Firm Sold business analyst will prepare a custom report for your firm and present strategies to maximize your firm’s value and next steps to reach your goals.
4. Understand the Market
AFS brokers are market experts who continually network with thousands of buyers and sellers of accounting firms and CPA practices across the country. Allow them to provide market updates and value drivers for your region and specific market, as they apply to your practice. Here are a couple of national trends we are currently seeing:
- Private equity and tech firm buyer activity, especially for $1M+ firms
- Cloud-based/remote firms commanding higher-than-average selling prices
- Increased interest in sellers offering transitional support and seller financing
5. Create a Timeline
Discuss your timeline with an AFS broker to begin planning your transition. Don’t have a timeline? Share your priorities, and your broker can help you create a timeline that matches your goals and desired pace.
Here is an overview of the typical selling process:
- Initial contact – Let’s start today!
- First consultation with AFS broker; begin Practice Evaluation, establish your timeline and priorities
- Value-building & firm preparation – Ongoing
- Go-to-market
- Meet highly-qualified buyers
- Negotiations (LOI/Offers)
- Closing
- Celebrate the beginning of your “Life beyond business”
6. Increase Firm Value
Our experienced team helps owners navigate important details to avoid painful mistakes, wasted time, and ensure that the entire value of your hard work is recognized at closing. This includes working with you to identify key value drivers and potential enhancements that can increase your firm’s attractiveness to buyers and positively impact the selling price. Suggestions may include:
- Operational Improvements: Ensuring smooth technology operations, creating greater owner efficiencies, and competitive billing rates
- Growth & Stability: Consistent revenue growth, increased service offering for clients, key staff retention, and post-closing seller support
- Client Base: Diversifying revenue mix, focus on retention/service quality, and reduce large client dependency
- Financial Readiness: Optimize expenses, three years of clean books/tax returns ready, well-managed receivables
7. Partner with Accounting Firm Sold
As specialists who work exclusively with accounting, CPA, and tax practices, we have an expansive network across the country and work diligently to deliver a professional and personal experience that sets us apart.
We are confident that we can find a great buyer for your firm, which is why we work on a contingent basis. This means that you owe nothing for our services until your firm sells to a buyer of your choosing, at the terms and price that you’re satisfied with.
Let us leverage our expertise to benefit you and your firm. Start with a confidential evaluation and let us show you why so many other accounting firm owners choose to work with our team at Accounting Firm Sold.
Ready to begin?
Let’s start a conversation today – click below to get started.
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