How to Select a Brokerage and Consulting Vendor

There are logical steps one should take in order to find the right brokerage and consulting vendor when offering CPA firms for sale. Select a business broker to buy or sell a practice in tax or accounting practices who has the most knowledge of current market trends and record of success selling acquisitions of existing firms. The business broker should have consistently sold a significant number of CPA firms annually in order to prove their ability to manage the transaction on one’s behalf. Experience, licenses and certifications will lend credibility in all areas of their work. Competition in the CPA firm industry is fierce, so they need to find a brokerage and consulting vendor that offers innovative strategies in order to gain a competitive edge. 

The methodology used by brokerage and consulting vendors in CPA firm sales rests in being innovative enough to gain a competitive edge in the current selling environment. It is important to provide a potential buyer with the confidence that they are investing in a growing business with successful clients and a trained sales staff. 

Strengthening an existing client base encourages loyalty to a CPA firm, and it can be a very attractive selling point for any CPA practice. New business is often generated by references from existing clients.Prospective buyers may be moved to buy if a CPA firm has built strong relationships with its clients and understands their challenges, goals and objectives to better serve them. When a brokerage and consulting vendor offers a potential buyer with an existing trained staff that shares mutual goals and helpful information, it is a strong selling point. Proving that a CPA firm has invested in collaboration and effective teamwork may persuade someone to buy that accounting practice rather than a different firm. 

An effective brokerage and consulting vendor will structure a CPA firm for selling by evaluating its core markets in order to document key factors that affect the perceived value of a business, whether it is growing or declining, or if competitors are expanding. Structuring also includes setting the price and terms. There are a number of inherent concerns when selling an existing CPA firm, such as whether or not the existing clients will remain, and if the practice is priced fairly.

When a professional brokerage and consulting vendor shows potential buyers that a CPA firm is staying abreast of developing advances in the accounting field, it is attractive to potential buyers, as well as presenting the CPA firm’s technology as modern and state-of-the-art. Modern technology can improve the efficiency and speed of operations; vastly improve communications; increase client recruitment and retention; increase and simplify promotion and marketing efforts; and increase visibility and perceived company value. Ensuring all staff and teams are thoroughly trained in sales and/or customer relations programs is important in order to increase sales and provide for many more opportunities in future business. CPA firms for sale are frequently due to an owner retiring, and are marketed to qualified buyers through numerous channels.