1. Practice valuation. Fair market value is what a willing buyer will pay a willing seller, period. At JFA we know the accounting practice market from the experience of buying and selling practices, not merely from theory. 2. Confidentiality. Our brokers protect the seller and buyer in every possible way although the selling process does […]
The Key Factors in valuing a Practice
May 15, 2022
Professionals often ask what their accounting or tax practice is worth but asking that question is like asking what houses are worth. It is unwise to rely solely on some simplistic rule of thumb because each practice, like each house, has a number of factors that may cause the price to vary. Following are the […]
Buying a Business – 9 Things it Requires
May 14, 2022
Since statistics indicate that only about one out of 17 buyers actually buy, it is important to be able to separate the serious buyer from the others. These points offer a good indicator of whether a person is really a buyer. 1. Prospective business buyers must understand that they will be buying someone else’s “baby.” […]
Making the Transition Work
May 13, 2022
In the purchase of any business there is rarely any guarantee that the customers or clients will continue to come. If you buy a McDonald’s franchise today you will not get a warranty from McDonald’s that customers would be there eating hamburgers tomorrow. So why then does anyone buy a business knowing there will be […]
Who Should Bear the Risk of Client Retention?
May 12, 2022
The key to a successful operation of an accounting or tax practice is client retention. That is true after the purchase of a practice but, in fact, that is true for any practice. All firm owners must be able to retain clients in order to survive and thrive. In the day-to-day operation of a practice […]