Owners need to understand that conducting a family succession requires a very different path than an owner who is looking to sell to an outside party. Most family successions involve some form of gifting in order to begin transferring family wealth. It’s a different mindset than trying to get maximum value for the company. …
Most professionals are not engaged.
You might disagree with this because your mind will go to the few great employees who are productive and willing to die for the firm, but these are the abnormal.
It’s here and it is bad. There are plenty of statistics on CPA firm succession. Most paint a more than acceptable version of the truth.
Transition Planning – Option 1 Selling Your Business When it comes to selling your business, there are more issues to address than most people think. Here are a few key items that impact an exit strategy: Understanding the value.Value is unique to each company, dependent on your performance, economic conditions, competition, etc. You need a…
One constant we see as CPA growth consultants and M&A search specialists is most firms want to remain independent.
Runoff occurs in every firm. Even firms with superior client service have clients who sell, merge, relocate, die, or leave for a variety of reasons.
When merging or selling, it is normal to go into a larger firm.
Our team talks with firms trying to grow by merging or acquiring a practice and to firms who want us to find them a practice to merge into or sell into.
What’s going to happen in the world of CPA firm mergers & acquisitions?
One common weakness inside CPA firms is their inability to consistently sell and deliver consulting.