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A key consideration when selling an accounting practice is leases. Consider that some leases are long-term - up to 10 years. Any potential buyer will have to consider taking over the lease as part of the practice purchase.
What is the problem? By signing a long-term lease, the seller will eliminate from its list of potential buyers all the firms that don’t want a satellite office - especially if a potential buyer already has an office in the same area. Potential buyers are less likely to be interested in the accounting practice because the additional overhead they have to carry with the lease.
If you will consider selling your accounting practice within the next five years, contact us to discuss how we can help you to structure the lease to minimize the impact for the buyers, and thereby maximize the sale price for yourself.
