Why Sellers Ask So Many Questions About Buyers – ABA Advisors, LLC

When you find an accounting practice you’re interested in, you naturally have questions.

You want to know about the revenue, cash flow, client mix, staff, asking price, and what the seller is looking for in a transition.

But there are questions going in the other direction, too.

The seller wants to know about you.

That’s why we ask about your current practice, your revenue, your staff, your public accounting experience, previous acquisitions, location, financing, and what you’re looking for in an opportunity.

And there’s a reason for that.

A seller may have spent 20, 30, or even 40 years building their practice. These aren’t just numbers on a financial statement. There are longstanding client relationships, employees, and a professional reputation that the seller has built over an entire career.

So when a seller begins considering potential buyers, the purchase price is important, but it’s not the only thing they’re looking at.

They want to understand who may be taking over the practice. What experience does the buyer have? Do they already operate a firm? Do they have the staff and infrastructure to support the practice? What does the buyer envision for the transition?

As the process moves forward, the seller will be sharing increasingly detailed and confidential information about the business. It’s reasonable for them to want to know something about the person or firm on the other side of that conversation.

So when we ask a lot of questions about your background, experience, practice, and plans, we’re not trying to make the process more difficult.

We’re giving the seller the information they need to decide whether it makes sense to take the next step.

Because while you’re evaluating the practice, the seller is evaluating the buyer, too.

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