Accounting Practices For Sale: Our core business is Seller Representation. We provide complete intermediary services to accountants looking to sell or merge their accounting firm. We can also assist Owners looking to transfer their firm to an existing employee.
Selling an accounting practice can be a daunting decision for many, a huge relief for others or a welcome change of pace. One thing we have learned over the years is that Sellers not only want a great selling price and terms but often equally important to them is how the buyer takes care of the clients and staff. We understand this and maintain an awareness of our clients goals throughout the entire process.
We seek to represent practice owners with annual revenue of $200K to $2M.
How are we different?
This is a common question we get almost every day. Many brokers that specialize in the sale of accounting practices are former practice owners themselves. Others are former general business brokers that now specialize in accounting practices among other varied backgrounds. All of these have their merits and help to add value to the client.
We have a background in finance. Specifically, putting together third party loans for the acquisition of accounting and tax practices. While not every transaction we do requires a third party loan we have found many sellers looking for higher cash down payments. When a seller is looking for more cash at closing financing almost always plays a role in the transaction.
Why ABA Advisors?
No other broker or consultant serving accounting practice owners has the experience putting the money together like ABA Advisors. Our background and experience originated on this side of the transaction and continues to play an integral role in our daily activities.
As a seller, if you are looking for a large cash down payment we believe our experience in putting the loans together sets us apart from other brokers or the decision to attempt to sell your firm on your own.
We know we are doing things right when our clients offer this type of feedback on the service we provide:
I sold my CPA practice and it was all due to ABA Advisors. It sold within a month after it was listed and this was a good thing as I did not want to go thru another stressful tax season. You see, I had heart health issues and did not think I could make it through another tax season. I had talked with 3 other brokers before deciding to go with ABA and was very glad I did because he seemed more honest and trustworthy to me. I think the others were saying things like all cash deals etc. just to get my listing. My instincts were right as he immediately went to work and gathered my firm’s history and financial data. In a very short time he came up with a quality CPA that was very interested in my firm.
From the offering all the way to closing the ABA Advisors team knew exactly what was needed, which I assume was due to many years of experience and knowledge in their field. The CPA firm gave me the cash out I needed, gave me a good interest rate on the note I was holding, rented my office from me, hired my staff and retained most of my clients. I was able to step away and take care of my health and know that my clients and staff were taken care of.
You think, “Why should I pay a broker fee, I can do this myself.” You really can’t and if you do get someone interested they will low ball your price. I got more than enough, which was more than 100% of last year billings to pay ABA Advisors and get a very nice payout. Also, to sell my firm so soon after listing even I was amazed.
One last thing, I went back to ABA more than a year after the closing of my practice and asked them to help the Buyer re-finance my seller note. After working with 3 different lenders over several months they got it done.
My heart, my wife and my family thank you for doing such a great and professional job!
-Thomas N. Southard, CPA, PFS/CFP