New Website Links Sellers/Buyers of Accounting Firms
by Terri Eyden on
By Christina Camara
An online marketplace for accounting practices, launched June 28, offers sellers a place to expose their firm to a national audience and for buyers to search for new opportunities.
Accounting Practice Exchange contends that it offers more than a list of sales and that it is not a business broker. "We aim to provide a platform to the accounting practice sales market that is of benefit to both 'for sale by owner' practices as well as business brokers that operate within this specialist area," says Founder and CEO, Daniel Crowley, CGMA, in a statement. "Think of us as the equivalent of a bizbuysell.com, but one that only services a niche market ‒ the sale of accounting, CPA, and tax practices."
To help kick off the new site, Accounting Practice Exchange is offering classified sales listings at no cost until midnight Friday, July 6. All ads will remain online for a full year.
For accounting firm owners who want to sell the practice on their own, many use state CPA Society websites or journals to advertise, but Crowley considers these approaches to be fragmented and disjointed. Through the site, buyers can search a nationwide listing, do-it-yourself owners can advertise their firm, and business brokers can advertise their services. The site also offers articles and other information on the sales process, such as "Key Questions to Ask in Selecting a Broker," and "Preparing Your Practice for Sale."
Crowley estimates that 1,000 practices are sold every year, half with the help of a broker. "Using a specialist broker is the norm in the sale of businesses in this industry, and with brokerage fees averaging between 10 to 15 percent of the final sales price, this can have a major impact on the final profit figures if you have a business to sell," said Crowley.
Advertising rates start at $99.
- Management Essentials: Five Merger Tips to Help You Seal the Deal
- Is It Possible to Buy Part of an Accounting Practice?
- What Will a Bad Economy Mean for a CPA Firm M&A?
You may like these other stories...
PwC must face $1 billion lawsuit over MF Global adviceA federal judge on Wednesday ordered PricewaterhouseCoopers (PwC) to face a $1 billion lawsuit claiming that its bad accounting advice was a substantial cause of the...
Teresa Taylor, former COO of the multibillion dollar telecommunications giant Qwest, remembers the exact moment she stopped chasing the work-life balance myth.When Taylor's eldest son Jack was in second grade he invited...
Event Date: September 10, 2014, 2 pm ETTransfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career. Kristen Rampe will show you can have a significant impact...
Upcoming CPE Webinars
In this session we'll discuss the types of technologies and their uses in a small accounting firm office.
Transfer your knowledge and experience to prepare your team for the challenges and opportunities of an accounting career.
This webcast will include discussions of commonly-applicable Clarified Auditing Standards for audits of non-public, non-governmental entities.
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.