We Have a Buyer that Wants to Buy Your Specific Accounting Practice, Today!
Beware of the headline above! It is likely you will receive a letter or email with a similar message in the coming weeks. Don’t fall for it.
Why? Because it probably isn’t true.
The truth is that all brokers and consultants that specialize in accounting practice sales have a database of potential buyers they have spoken with or that have registered with their firm. We are in constant contact with these “buyers” and typically only receive serious inquiries from them when a practice of interest comes on the market.
You need to ask yourself, why would a buyer request a broker get involved and represent the seller? Answer, they don’t contact brokers to do this because they do not usually see a direct benefit, in price and terms, when they increase the knowledge and expertise on the seller side of the negotiating table.
You might be thinking, “but they asked specifically about my practice.”
One of the main concerns any seller has is “who is going to take over my practice, take care of my clients and look after my staff?” If this is your concern, be wary of rushing to the easy answer this headline proposes. We had dialog with several owners that jumped last year at the hope this message provides and there was no specific buyer, for many this was true through the entire three to six month term of the contract they signed.
When an owner lists their practice for sale with ProHorizons, we create a market by building a large pool of potential buyers around the listing. The buyer pool is interviewed and whittled down until we feel we have selected the best candidates based on the priorities and concerns the seller has shared with us through our thorough consultations with the seller.
Bottomline: if it seems too good to be true, it probably is!
If you are interested in having a conversation about selling your practice, and want to work through a successful, proven methodology to find a good buyer, we would be happy to talk with you. You can reach us at 800-729-3242.
ProHorizons is a national brokerage and consulting company focusing on accounting practice sales, acquisitions, and business development services since 1995.Our blog is focused on three aspects of our experience: our first hand knowledge of the various layers to completing a successful transaction; the trends, changes and shifts in timing in the M&A market; and, our goal of assisting practitioners in developing long-term value so they realize maximum return when it is time to exit their practice.