You have spent years building an accounting practice, and then you start dreaming about selling your practice, and retiring. Most owners find themselves in the position of wishing they would have started planning to sell their accounting practice long before they ever did. We have had the pleasure of speaking privately with hundreds of hard-working practitioners over the years who finally find themselves ready to retire. However, once they receive an education about the process of selling their tax practice, they are stunned to discover they should have had an exit strategy in place years before…even 10 years prior to an exit.
Recognizing the need for practitioners to sell their tax practice, www.taxconnections.com has put together a special program to educate firm owners what they must put in place long before they sell their tax practice another firm. TaxConnections is committed to guiding accounting firm owners by educating them what they can do to ready themselves for the inevitable sale of their practice years in advance of an exit to retirement.
A little-known secret to owners of small tax and accounting practices is if you call big brokers about selling your practice, they are disinterested in working with you if your annual revenue is under 3M. Most of the big power brokers in the accounting profession do not have an interest in speaking with you even at 3M annual revenue and/or EBITDA. It is a good idea to understand why this happens and explain so you do not become disappointed. Our mission is taking you through the process of building and organizing your practice for sale one day. Perhaps, it will be two years from now, five years from now, 10 years from now or longer. Tax professionals are lifelong learners, and what we teach you about building to sale journey will have a huge impact on the sale price of your tax practice one day.
TaxConnections has assembled an Advisory Team with valuable solutions for you. TaxConnections has built a Master Strategy to prepare small to medium size firm owners long before they sell their accounting practices. If you have built a tax practice, you will benefit from access to information from leading M&A experts who will teach you years in advance of a sale to your firm. Once you enter the program, we promise you will learn valuable lessons in the first few sessions of the program. We guarantee you will learn things you have never previously considered about the sale of your practice. Our mission is ensuring you are informed of the challenges, far ahead the obstacles you will encounter, and solutions to break through these what seem impossible tasks required to do prior to a sale.
Owners/partners in small to medium size firms who learn from the special Advisory Team we have recruited to educate you will be far stronger on an exit of your firm. Learning Master Strategies from this Advisory Team will ensure you increase your opportunities to sell your tax and accounting practice and increase the value of your firm to potential buyers. There is so much to learn and the earlier you start educating yourself on how to increase the value of your practice, the stronger your exit to retirement.
If you are interested in learning how to increase the value of your tax and accounting professional services firm, years before you sell your practice, you will be pleasantly surprised how we educate you years in advance of the actions you must take now. Those preparing for a sale within the next year will wish they had known these Advisors ten years ago.
Contact Kat@taxconnections.com or call 858.999.0053 for a private consultation regarding our M&A Advisory Education program.
Kat Jennings, TaxConnections, CEO and Founder and Advisory Team provides three areas of services: 1) Internationally recognized, retained executive search services for multinational corporations, public accounting firms, and law firms; 2) Introductions of sellers to buyers of small and medium size accounting firms; and 3) Provide brand building and education services that support and prepare accounting firm owners to buy/sell an accounting practice. We focus on educating the journey to sell a practice and how to increase firm revenue prior to any sale. Our program ensures you start years prior to a sale by learning what is expected of you during the selling process, and introducing firm Partners to cross selling opportunities that are easy to implement and reduce your workload at the same time. We introduce you to value added connections to smartly grow revenue in your accounting practice.
Kat Jennings has been retained by organizations worldwide to locate tax professionals with highly specialized tax knowledge and expertise. She has a thorough understanding of the tax business community, with a proven record of stellar performances matching professionals with organizations. Bringing two parties together to work successfully is the art of understanding personalities, cultural fit, expectations by both parties, flexible or inflexible work environments, understanding what drives and motivates each party, and revolves around the personality and ethics of each executive team.
Kat is a widely recognized expert in high level, tax executive search, as well as connecting buyers and sellers of accounting firms. TaxConnections provides and educates small to medium size accounting firms owners and Partners how to prepare and sell their firms so they can build a succession plan for their retirement. With larger firms seeking to acquire smaller accounting practices, there is a real need to help firm owners prepare to be acquired. Most firm owners are unaware they are not ready to sell when they decide to retire. TaxConnections educates firm owners’ what they need to do years in advance of selling an accounting firm practice.
Senior tax executives expect the utmost privacy when being introduced to multinational organizations about a new tax opportunity under consideration. Having said that, companies searching for a new head of tax expecting tax executive candidates to submit their resume through a resume portal, will never see a full slate of outstanding tax executives available due to a candidates’ desire for greater privacy. This is why privacy focused Uber Tax Recruiters consistently outperform in-house recruiters on tax executive searches.
We offer our clients a Performance Retainer Agreement arrangement so their HR department can still recruit and compete with the tax candidates we present on Head of Tax searches. The client pays us a partial fee upfront, and if they find a candidate they deem better than we introduce to them, we forfeit the final fee. Most of the time, they love and prefer our private introductions to tax executive candidates better than what they source through their own resume portals.
When we represent selling/buying small to medium-sized firms, firm owners/partners also demand greater privacy when considering the sale of their practice. TaxConnections provides a safe place to discuss their business needs, elevate their practices’ online reputation, and increase revenue through new streams of business development by outsourcing work and partnering with other firms. Over three decades, we have worked tirelessly to build relationships between firm owners most organizations rarely have access to in the world of tax. There are numerous possibilities you may never have considered previously to bolster the value of your practice and service offerings.
As a globally recognized consultant to multinational organizations, accounting firms, and law firms searching for tax expertise, Kat has been retained by public accounting firms, law firms, and corporations worldwide including Apple Computer, AC Neilson, Accenture, Agilent Technologies, Allergan, Alza, American Express, American Media, Aon, Baker & McKenzie, Barclays Bank, Bechtel, Cargill, Carl Zieuss Vision, Century Aluminum, Chevron, Clorox, Citigroup, Commercials Metals, Constellation Energy, Countrywide, Del Monte, Deloitte Touche, DFS, DLA Piper, E&J Gallo Winery, Electronic Arts, Ernst &Young, Fox Entertainment, Fremont Investments, General Electric,General Motors, Herbalife, Hewlett Packard, Hyatt, Intel, Jones Lang LaSalle, Kimco Realty, KLA Tencor, Koch Industries, KPMG, Levi Strauss, Liberty Mutual, LKQ, Loews, Logitech, Lucas Film, Maersk, McKesson, Nalco, Newell Rubbermaid, Nissan, Oracle, Orbitax, Pacific Gas & Electric, PwC, QAD, SAIC, SanDisk, Sanmina, Sempra Energy, SONY, Synopsys, Ticketmaster, Trimble Navigation, Toyota, Univar, Wal-Mart, Wells Fargo, Vertex, Yahoo, Xilinx, and many more not listed here.
Contact Kat at 858,999.0053 Office/858.232.4415 Cell or kat@taxconnections.com to request a private consultation regarding the sale of your practice, adding top talent to your organization, or merging your practice with another firm owner with a book of business. The possibilities are endless; if you have a dream of a new vision for your professional life; we will scout opportunities throughout the market to make it happen.
1 comment on “Thinking About Selling Your Accounting Practice? Get An Education Years In Advance”
Thanks for the article! This is a really helpful guide for anyone looking to sell their business.