Is this the right time to sell your Accounting Practice? Are you the type of person that is waiting for that “White Knight”, expecting the economy to get better?
Awaiting for the market to change from a sellers to a Buyers’ market?
Well guess what?
There is not a right time to sell!!
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!
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!
It was a great evening recently speaking to CAANZ SIG group Pacific Island Chartered Accountants Network (PICAN) about the buy/sell/merge of Accounting Practices hosted by Crowe Horwath.
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 enquiries about the Buying/Selling/Merging and succession planning in the Accounting market.
We have been invited to discuss the market from reputable accounting firms and have advised many Partners in terms of the Accounting market and changes.