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and a merger is really an acquisition. plus: the six top issues in the negotiations.
by marc rosenberg
cpa firm mergers: your complete guide
at some point, many cpa firms and sole practitioners will be in a position to consider a merger.
more: covid drives new m&a trends | when managing partners can’t | don’t let exiting partners double dip | the 13 signs you have a partner problem | covid-19, adversity and innovation | networking for fun and profit | why consultative selling works | eleven ways to jump-start your covid comeback | how covid impacts partner retirements | three tough questions in partner buyouts | is mandatory retirement a best practice? | covid-19: how your firm can respond | reward partners for performing like partners | checklist for implementing a merger | practice continuation agreements and why solos need them | how to merge sole practitioners | 13 questions between merger equals | thinking ‘downstream’ merger? check these 25 potential problems first
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there are numerous types to think about:
learn how to ask the right questions.
by marc rosenberg
cpa firm mergers: your complete guide
as a generation of aging baby boomer partners marches towards retirement, thousands of firms are seeking the only exit strategy available to them – merge into another firm. thus has a voracious appetite for mergers been created at all size levels, particularly:
here are just 19 factors.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i am in process of buying a practice and would like to know how much to pay.
more practice doctor q&a: when fees don’t keep up with cost increases | when large (or any) clients need backup assurances | 18 ways to blow a partnership opportunity | 10 do’s and don’ts for making small business clients happy | 10 ways to get new 1040 clients | before you even think about selling your practice…
answer: an alternative question is how much to sell it for. this is a complicated issue with many important variables, some of which are:
the answer is personal, but certain questions can help you decide.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i have a 20-person, five-partner firm, and am frequently approached by larger firms that want me to merge into them. i own 60 percent of the practice, and am 20 years older than the next oldest partner. should i merge? i am happy with my situation and am inclined to let my younger partners decide what they want to do. read more →
three possible outcomes from trading numbers early.
by marc rosenberg
cpa firm mergers
i have always been a big believer in the buyer and seller exchanging financial and operating information as early in the process as possible.
more on cpa firm mergers: deciphering the current state of the cpa firm merger market | the law of attraction: 15 ways to romance a merger partner | the 14 keys to a successful merger | mergers: 11 lessons from done deals | the 21 steps in every merger deal | today’s 15 essential deal points in accounting firm mergers
numbers aren’t everything, but they do speak volumes. the data enable each firm to gain an understanding of the other in a manner that is not always possible in conversation.
the data is also a good way to corroborate things that are said verbally. here are some examples: read more →
by marc rosenberg
cpa firm mergers
think of it as a second date. the first meeting was simply a “getting-to-know-you” encounter. but now the prospective merger participants, buyer and seller, are getting serious. they need to take the next step and exchange key performance indicators and financial and operating metrics.
there are at least 18 categories of data that need to be considered, each with it’s own peculiar in’s and out’s.
read more →
and 17 ways to repel one.
after more than 20 years as a business adviser to cpa firms, marc rosenberg has seen his share of cpa firm mergers. each one is a little like a romance. there are turn-ons and turn-offs. every deal is different, but rosenberg says there are 15 rules of attraction (and 17 for repulsion) that apply to all types of mergers: read more →
ask the “right” questions. ask tough questions.
by marc rosenberg
cpa firm mergers
you likely waited a long time to find the right merger partner. be patient and do things right. fourteen things, to be exact: read more →
if they had it all to do over again…
by marc rosenberg
cpa firm mergers
as you might suspect, in 20 years of consulting to cpa firms, several dozen mergers of my clients have taken place.
from time to time, i meet with the managing partner of the firm that was my client and ask them how the merger went, what they would do differently and what advice they would give to firms contemplating a merger.
here are some choice morsels… read more →
with four steps and a sample letter.
by marc rosenberg
cpa firm mergers
in all areas of mergers and acquisitions, it’s always much more difficult to find sellers than buyers. this is certainly true in the case of cpa firms. cpa firm merger consultants and brokers can do a great job finding buyers, but they are limited in their ability to dig up sellers. this is because the vast majority of all mergers and sales take place when buyers or sellers who “know each other” get together on their own without the help of a consultant.
one way to identify sellers is to conduct a snail mail solicitation. the steps in the process are: read more →
veteran buyers say that for every firm they merge with, they had discussions with 10 others.
by marc rosenberg
cpa firm mergers
firms that are serious about merging in smaller firms on a regular basis understand that conducting mergers is all about planting seeds.
a buyer has to have this attitude:
every day of every year, at least one firm decides to test the merger waters. if our efforts to identify sellers are made continuously throughout the year, every year, sooner or later, we will find at least one interested merger candidate and probably more than one. read more →
checklist: for every step in the merger negotiations, there’s a possible misstep.
by marc rosenberg
cpa firm mergers
it’s important to understand the flow of the entire merger process.
every merger has its unique aspects. it’s impossible to choreograph, from a to z, exactly how the process for all mergers will work. most steps occur in the same order from one deal to the next. but then, all mergers are different. your mileage may vary.
still, there are at least 21 steps that need to happen. and one can’t happen without the other. take a look…