The Fastest Way to Grow Your Accountancy Firm
As business sales brokers, we routinely work with a range of accountancy firms of various sizes and stages of development. Our approach to our working relationships with accountancy firms has always been one of open collaboration, and in the spirit of this approach, we aim to share our insights through a series of blogs which we have shared with Accountex to explore the subject of growing an accountancy firm.
If you are looking to grow your accountancy practice, we hope you will find these articles helpful.
Our first blog focuses on the strategy of acquisition as a means of growth. This strategy is often viewed as a reliable route to growth by accountants who are looking to acquire a “book of business” or an established accountancy firm. While the acquisition of the existing client base of a firm for sale stands as a leading reason for purchase, accountancy firms pursuing this strategy need to mindful of the implications of scaling up, in terms of staff and operational capacity.
Our second blog expands upon the subject of acquisition, zoning in on the process of finding an accountancy firm to acquire. This is of pertinence to the most common form of accountancy firms with 10 or more employees, with partners who are considering retirement. This piece covers how to find and negotiate your way through the competitive market of accountancy firms for sale, and the benefits of leveraging your internal networks to source potential acquisitions.
Our third and final blog addresses the essential question of how to value an accountancy firm. Here we cover the issues of organizational fit, key metrics to focus on and deal structures to consider.
We hope that these combined blogs serve to illuminate a range of questions for you and help to simplify a common yet sometimes complex area to navigate.