A couple of recent practice sales reminded me that not everyone is necessarily aware of all the assets or items that are typically incorporated within, and transferred as part of, a practice sale. Hence, I thought it may be helpful to outline some of the common inclusions and the prep work that is required in Find out more…

For around twenty years now the professions have been preparing for the increased departure of practitioners as the Baby Boomers hit retirement age and during this time there have been a couple of factors that have been influential upon this expected trend. One was frenetic activity of the consolidators and aggregators amongst the accounting profession Find out more…

One of the primary drivers, in addition to growth, for the current acquisitions of practices / fees is the desire by the purchaser to also retain any professional staff that may currently be employed in the practice for sale. This is also generally a key criterion for selecting the right purchaser with most vendors telling Find out more…

Are you in the process of selling your practice? Have you found a purchaser and exchanged contracts? Congratulations if you have! However, please know that this is not the end of the process. There still remains some very important activities that need to be performed in the anticipation of settlement and depending on how much Find out more…

This is often one of the hardest conundrums for particularly vendors, and we have certainly seen some interesting approaches. I think the first point to note is that generally the vendor, in our experience, will be quite conservative about what fees they feel will transfer across to the prospective purchaser. Now, I have certainly heard Find out more…

Selling your professional practice comes with numerous challenges that should never be underestimated. Achieving a successful outcome, or otherwise, will often be driven by how familiar both parties are with the process, their knowledge of current market conditions, their willingness to be reasonable within their expectations, and their availability of time to work through the Find out more…

So we all know and appreciate the basics of supply and demand. This has been a principle that has been influential upon the transactional market, of particularly accounting firms, for many years now. Essentially, the availability of accounting practices for sale in the open marketplace in many core areas throughout Australia has been limited for Find out more…

Most of our colleagues and clients will recall our usual disclaimer ‘we are not solicitors and therefore not providing legal advice’. On that note, the following comments are in keeping with this qualification; we are not providing legal advice. Over recent months we have received a number of enquiries regarding Contracts; most are for the Find out more…

We recently completed a round of Boardroom Briefings where one of the sessions was on ‘how to maximise the sale price of your practice’. We felt this was a useful topic because we see so many vendors that could have achieved a better price than they did if they had just done some lead up Find out more…

I’ve now spoken with a few firms who have made acquisitions of fee bases below $1 Mill where several clients have multiple years’ lodgements outstanding. Initially this is perceived as a real win or bargain. Often the deal goes something like this. The purchaser pays a reasonably competitive market price for the fees based on Find out more…