once sellers have created a list of firms they will consider as a merger partner, the first step is often to talk by phone or video call with the buyer and ask basic questions to determine if a get-to-know-you meeting makes sense.
i’ve written many times about being clear about your goals and what you really want. that being said, here is a general discussion about the reality of the value of your practice. read more →
you’ve toiled long and hard to build your firm. it’s your life’s work. adding to the anxiety is the element of facing your own mortality. when people contemplate big personal or business decisions, it’s common to need to move through several stages mentally. merging your firm is no exception.
before negotiations begin, it is very helpful for merger partners to prepare a one-page, written description of their firms. this advice is for both the buyer and the seller.
at the risk of offending some of you, we have found that when firms initially describe themselves, the person doing the listening does a terrible job taking notes. none of our memories are as good as we think they are. because in almost all cases, each firm will soon be describing the other to their partners, it’s always best to follow up the oral description of your firm with something in writing.
what follows is:
what the written firm description should include (12 items)
get-to-know-you meeting between buyer and seller (the agenda)
sample firm description
the get-to-know-you meeting cheat sheet
key questions for the first meeting (43 items)
20 questions to ask right away
the data needed to evaluate a merger
financial and operating data to exchange (58 items)
cpa firm m&a advisor ira rosenbloom presents “the seller’s guide to getting the best price for your firm,” a flash briefing webinar hosted by rick telberg for 卡塔尔世界杯常规比赛时间.
pro members: get the top take-aways, the transcript, and the slide deck download, with a bonus “12-point checklist for seller readiness:”
summit cpa co-founders jody grunden and adam hale and all 60 staff members are joining st. louis-based anders, bringing anders’ total partners and staff to 335 with revenue of $60 million.
anthony zecca, ceo of growth path partners llc, and author of 卡塔尔世界杯常规比赛时间’ “leading from the edge,” advised anders on the transaction. zecca was instrumental in connecting anders and summit, and he will continue to serve as an advisor as the merger solidifies and grows. zecca is a retired partner of cohnreznick and was managing partner of the firm’s advisory group.
founded in 2002, summit has been a pioneer of remote work in the accounting industry since 2013. by offering virtual cfo services, including cash flow management, business tax planning and financial forecasting, summit has grown fast to $8.5 million, approximately doubling in size every three years since 2010 and has been recognized by inc. 5000. anders has also grown rapidly through the addition of advisory services, new industry lines, organically and through mergers, doubling to over $51 million since 2013.
partners in accounting firms are familiar with the rule of thumb that a cpa firm’s goodwill (excluding capital) is worth one times fees. however, like many rules of thumb, this notion is often incorrect.
when buyers begin to think about how much they will pay for a smaller firm, they often have this one-times-fees notion in the back of their minds. then, when sellers are bold enough to ask for a price in excess of one times fees, buyers often balk. read more →
the disruptors: brannon poe with liz farr for 卡塔尔世界杯常规比赛时间
brannon poe is the founder of poe group advisors and the creator of accounting practice academy. he began facilitating successful accounting practice transitions in 2003. today he is pioneering a consulting-based approach to transitioning accounting firms, culminating in poe group advisors’ proprietary process for a “seamless “succession.”
a tsunami of venture capital and private equity is flooding into new tech startups, enough to swamp the entire tax, accounting, bookkeeping, and payroll sector, according to a new study by 卡塔尔世界杯常规比赛时间.
here, 卡塔尔世界杯常规比赛时间 founder, publisher, and editor rick telberg delivers the keynote at the new york finance & accounting show, explaining what it means for the future of the profession, including:
many years ago, i was overjoyed that the managing partner of one of chicago’s largest local firms (long since merged out of existence) called me in for a meeting. today, i would have asked what the guy wanted to discuss before shlepping to his office. but 20 years ago, i was just happy he called me.
the managing partner proceeded to tell me that his firm was looking for smaller firms to merge in. i asked him what the parameters were for his search. read more →
whether you’re looking to acquire a smaller firm, merge upward into a larger one or join forces with an equal, answering this basic question honestly and objectively is key to laying the groundwork for a successful merger.
the table below lists the main reasons that firms seek mergers. some of them benefit both buyer and seller. others provide the greatest advantage to one firm or the other, depending on the unique situation. read more →
plus how sellers should assess them.exclusively for pro members. log in here or 2022世界杯足球排名 today.
