Buying Accountancy Practices
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When it comes to buying accountancy practices you will tend to find that this is the area where most accountants come unstuck. You wouldn´t expect one of your clients, who had no previous experience of dealing with the Inland Revenue, to be able to competently represent himself during an in depth inquiry into his affairs. An expert´s input is vital in such a situation. The financial implications of a novice buying accountancy practices or a block of fees, could be disastrous. Always use a professional.
This is the most cost effective way to create or enhance your client base. There can be very few business investments that are capable of giving you a 50% net profit with a payback period of under 2.5 years but worthwhile acquisitions are lost to the less adventurous accountant. And yet, if you respond to a practice being marketed, you are unlikely to be the successful buyer. You could wait years! With good advice on buying accountancy practices, you can convert your investment within months.
There are two approaches open to a would-be purchaser wanting to be involved in the sale of accountancy practices. The first option is to register your interest with as many agents and brokers as you can, then wait until ´something comes along´. You can download our free Buying pack from APMA´s website. However, you should be aware that, in APMA´s case, at any one time many hundreds of firms who have chosen this passive role will be languishing on our databases with limited prospect of ´a result´. The second, and more realistic approach, is to commission an ´active´ role and retain APMA to undertake a marketing development with a view to establishing not only if there is a suitable firm already seeking to sell, but also with a view to acting as a catalyst for action by Principals who haven´t got around to buying or, more usually, simply do not know how to go about the sale of accountancy practices. For 30 years APMA has specialised in the sale of accountancy practice and our success rate for finding ´hidden´ fees is good and, although not guaranteed, we believe it is well worth your modest investment in covering the direct marketing costs.