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.” […]

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 […]

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 […]

The normal flow of the buying process is as follows: 1.     Submit the buyer’s Information form by going to register you interest to buy. There you can ask for information on particular listings. All information collected is kept confidential and will not be shared with anyone outside our company or your broker. 2.     The broker […]

JFA believes that sellers have virtually no control over the success or failure of the practice after the day of closing. The seller’s job is to stop servicing the clients, to recommend that they use the buyer and to get out of the way. The buyer’s actions with regard to selling himself or herself and […]

Accounting practices are worth one times annual gross revenue. This is a belief that has been around our profession for decades and, in fact, still drives the marketplace. No one can really explain why one times gross is such an accepted formula. (The best theory is that it assumes a backdoor cash flow. Buyers believe […]