Our experts answer your most frequently asked questions about how to get started and how to find the right practice for you.
Yes, we work with several lenders that have experience with accounting practice transactions. The buyer will need to qualify based on credit history, experience and other factors.
Sellers are very concerned about maintaining their confidentiality. You’ll need to sign a confidentiality agreement and follow a few steps in our process before a meeting can take place. This all can happen very quickly once both sides have decided there might be a good fit for a purchase.
There are a lot things to consider in order to find a practice where you will be successful. We have numerous resources to help you think through the process. Here are a few tools that may be especially helpful:
Initial due diligence is performed at a high level and we can help to facilitate the gathering of that information. Detailed due diligence is performed after the purchase agreement has been signed. We want buyers to get the information they need to make an informed decision about making an offer. Once the agreement has been successfully completed buyers will get the opportunity to verify the information already received is accurate and complete. To learn more, read Due Diligence Phases in an Accounting Practice Sale.
We discourage the use of letters of intent. We have found that this can be an unnecessary step that can be harmful to a deal. To learn more, read Should I Use an LOI?
We recommend a relatively short transition. You cannot handoff a relationship. The buyer will need to develop their own relationships. Read 5 Important Concepts for Successful Accounting Practice Transitions.