Sometimes it takes courage, research, skills and mental toughness to accept the fact you will go out into the unknown.
When me and my brother ran the Tarawrera 100km Ultra marathon this year, we did something our networks, friends thought was impossible to achieve. There are not too many Pacific Island endurance runners out there, let alone brothers running the same race and running beyond marathon distance off road.
We also broke mainstream media by telling our story in the NZ trail magazine that goes out internationally to endurance runners!
Why did we choose to do this?
We wanted to prove a statement that anything in life is possible, we prepared well and did a lot of research, spoke to people who had done it before, got around a supportive group and followed their methods and absorbed a lot of knowledge before we put it into action.
The same methods I believe or similar would apply to an Accountant looking to acquire a block or fees or a Practice for the first time, do your research, attend seminars, talk to current business owners on the highs and lows, get a supportive network of business owners who can provide mentorship, attend meetings where practices are for sale, prepare yourself mentally for the initial grind, talk to us at Accounting practices etc
On the market front:
There seems to be a growing number of young Accountants looking at the reality of Business ownership, we are also 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 and vetting process.
There also seems to be a growing number of Accountants that are in commercial wanting to step back into Public Practice via Acquisition.
The common questions asked are what would my take home package be if I bought a $500k Practice, a million + practice etc
We both know that contributing basic factors will determine take home such as staffing levels, depreciation, value of the Practice, Rent, Repayment on Business loan to purchase the practice etc
Common valuations on Practices such as % of the Gross Fee base vs EBITDAM come into question when putting a price on a practice.
At Accounting Practices, we are continually helping Partners, Practitioners and assisting their strategies moving forward to ensure a smooth transition when it comes to advising on either the Sell/Buy or Merge of their Accounting Practice.
We have sold numerous Practices across Auckland, Bay of Plenty, Wellington and the South Island and will continue to deal with Practices due to our focus and only licensed Broker focusing 110% in Accounting Practices nationwide.
We don’t sell cafes or other commercial businesses other than Accounting Practices!
There’s a difference!
We are dealing with a vast number of Practices that are selling and will ensure it is a successful outcome for both Parties.
If you are looking to BUY/SELL/MERGE or other, then save yourself some time and deal with the EXPERTS- Accounting Practices Limited.
Talk soon,
Riki Sila - Director of Accounting Practices Limited.
09 363 9584 or or riki@accountingpractices.co.nz
www.accountingpractices.co.nz for the latest listings
Licensed agency REAA 2008