At Accounting Practices we are inundated with so much work that we are in need for another 3 consultants/brokers to join our team specializing in CA practices for the start of 2016!!
Our most recent sale was a 2.4million dollar transaction in Auckland whereby both parties were extremely happy with the process.
There has been a new development that has been set up at Accounting Practices recently.
Due to a huge demand from Accounting Practice firms across NZ, we have now set up an executive search arms for Top Accountants.
As 2015 draws near to a close and the start of the new financial year is fast approaching, I would like to give you an insight on what we at Accounting Practices have come across when it comes to BUY/SELL/MERGE & succession planning of Accounting Practices.
I have interviewed and met many high end Accountants in various firms across Auckland and beyond. I have come across Accountants frustrated in their current positions due to lack of "career path forward", no equity offered in current firm or there has been an external appointment from outside of the firm and this has prevented a Partnership opportunity!
The last 6mths has been a busy time for Accounting Practices, not only have we secured and listed many practices nationwide, we have had huge success in matching the vendors with the right buyers to ensure a smooth transition moving forward. My expertise as a licenced broker is to ensure the right fit, we are very fortunate to have an experienced team who have walked in the shoes of many accountants looking to buy/sell or merge accounting practices.
There is still a bit of movement in the market with vendors looking at options, there is also been a lot of speculation about a surge of practices for sale on the market as the baby boomers all retire at once.
As we all know this has not happened…YET!
The supply and demand will always lean towards a demand for fees/practices in today's market .
There seems to be a growing concern from many of our Accounting Clients about emails received from "rookie" agents trying to specialize in the Buy/Sell/Merge aspect of accounting practices. Let’s be clear and frank here, not only do you need to be a licensed agent, you also need to talk, walk and understand the CA market. An expert Broker will understand it is a different ball game all together.
We are fielding many inquiries about the process and giving Accountants a good understanding of the Buying/Selling/Merging or other when it comes to Accounting Practices via our detailed forms vetting process and support in assessing value.
We both know that the main contributing factors that will determine take home dollars will be staff costs, the purchase value of the practice, rent, repayment on Business loan to purchase the practice (even if hypothetical) etc .
When I ran the Ultra 100k marathon earlier this year I went into the unknown not knowing what to expect, I prepared like a man possessed, surrounded myself with people who had been there done that!
I have a personality that if I set my mind to something, I will move heaven and earth to move towards that goal and conquer it!
In my current role as a Director of Accounting Practices I have interviewed and met many Accountants that are looking at options to acquire a Practice.