Erickhalland

  Looking to purchase an accounting firm this year? Start by finding a trusted partner who specializes in accounting sales . Make a list of your top considerations, including location, firm size, and budget. Visit potential firms and ask plenty of questions to get a full view of the firm. Be prepared to dive deep into the firm’s financials to look for past red flags and future growth opportunities.

Tax season is notoriously busy for accounting firms. Before the rush hits, make sure everything is in order for your firm. Check that your processes are smooth and efficient and correct any bottlenecks. Make sure your data storage systems and online communication is secure from cyberattacks. Hire additional help if needed to manage calls and client onboarding. And prepare accountants and staff with a comfortable and supportive work environment.

Selling an accounting firm is a major decision. To avoid selecting the wrong buyer, make sure you do your research. Do they have the credibility and finances to back up their purchase? Slowing down the selling process to check your buyer can alert you of potential issues before the process becomes harder to cancel. A trusted partner can also help you look for red flags with potential buyers.