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...
Recently, we posted an article about being "Tax Smart Year-Round." To help accountants help their clients, we're posting occasional investing pieces to show that tax time is not the only time to think about...
Ex-Grant Thornton partner gets 4-1/2 years for $4 million theftCraig Haber, a partner at Grant Thornton from 1993 to 2012, was sentenced to four-and-a-half years in prison on Wednesday for stealing nearly $4 million from the...
Read more by Kristen Rampe here.One of my client service webinar participants asked in the Q&A, "Do you suggest the use of client satisfaction surveys?" This one hit a hot button with me, as evidenced by my...
Upcoming CPE Webinars
BAR is an acronym for: Boundaries, Authority and Role. This simple tool will provide participants with a solid understanding of leadership essentials to improve their performance.
This material is designed to provide a start-to-finish overview of how to plan and complete high-quality small audits efficiently.
In this session Excel expert David H. Ringstrom, CPA shares numerous techniques that you can use to work with charts more efficiently.
Key Accounting and Reporting Issues for Nonprofits No. 1: Overview and Statement of Financial Position
This material focuses on non-profit organizations organization, accounting and reporting.