The supply and demand will always lean towards a demand for fees/practices in today's market .
A few years ago when we sat down with a couple of our senior heads in our firm, we started to map out where the likely hood of retirements would come from.
The words “Baby boomers” (60’s -70’s age group) was used as a means of people nearing retirement age or looking at greener pastures.
We also presumed the cobwebs would be dusted off partner agreements and it would be looked at more closely in a long time. Common things to look for were buyout provisions, fairness, if one was to exit, would this be affordable to the firm etc
However what we are seeing is that the “Baby Boomers” seem to be staying on for longer periods and are not looking to retire or move on anytime soon for now. There are many other options available to them now for consideration.
Things such as technology, introduction of Xero, improved health, loyal staff members, life balance, no plan B, financial insecurity, improved economy could be key factors in baby boomers wanting to stay on.
Three common scenarios come to mind when a vendor is looking to sell are “Merge, shared expenses and succession planning” I can discuss each of these scenarios in another blog!
If you are looking to BUY/SELL OR MERGE OR OTHER then please let us know at Accounting Practices.
All our dealing will be in the utmost confidence.
In the interim we have a few vendors below that may be of interest:
There are more practices not advertised, we also have genuine buyers with capital willing to move very quickly.
Licensed Real Estate Agent REAA 2008
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