Ep010 from the IC-DISC Show (podcast)
Brannon recently had the pleasure of being a guest on David Spray’s IC-DISC show podcast. Listen in for a candid recap about ideal clients, accounting practice values, financing of accounting practices, and the biggest misconceptions about buying and selling accounting practices.
Some important parts to highlight:
1:30 – About Brannon and how he got into selling accounting firms
6:15 – Why is there a need for Poe Group Advisors?
8:40 – What makes an ideal client and a firm more marketable?
17:00 – Generational differences
19:25 – What is a typical multiple for a CPA firm?
27:00 – Which is the better question: What are your typical fees? vs. What are you going to net after the sale?
29:50 – A few different deal scenarios
35:00 – What is the typical age of an average buyer?
38:00 – Walk us through a deal.
42:00 – What are some of the biggest misconceptions in using an intermediary?
51:00 – Biggest take-aways & how to reach Poe Group Advisors: poegroupadvisors.com
About David Spray: David is the founder of Export Advisors. They partner with privately-held exporters to help them increase their after-tax income through the IC-DISC program. David also is host of the IC-DISC Show podcast where he speaks with industry leaders and business owners about their experiences. David is a former CPA, serial entrepreneur, and free market capitalist who is dedicated to adding measurable value to exporting entrepreneurs. Since 2005, Export Advisors has partnered with hundreds of clients to help them save more than $100 million in taxes.
About Brannon Poe: Brannon is the founder of Poe Group Advisors and has been facilitating successful accounting practice transitions throughout the US and Canada since 2003, and the creator of Accounting Practice Academy. He is also the author of Accounting Practice Insights Blog and hosts the Accountant’s Flight Plan” podcast with other top thought-leaders in the accounting profession. Brannon is an E&Y alumnus. He has worked with some of the most successful and seasoned CPAs in the industry and has been privy to the behind-the-scenes methods that these clients have used to build highly profitable practices along with capable and independent teams. Brannon has authored multiple books, including “Accountant’s Flight Plan – Best Practices for Today’s Firms” (published by both the AICPA and CPA Canada) and “On Your Own: How to Start Your Own CPA Firm,” Second Edition (published by the AICPA). Brannon is passionate about entrepreneurship and is the president-elect of EO Charleston (Entrepreneur’s Organization)