Akins Professional Brokerage is eager to provide answers to any of your questions. Please contact us if you have any specific question you would like answered.
Akins Professional Brokerage has been successfully serving clients for over 14 years in the sell of CPA, Enrolled Agent, Tax, Accounting or Bookkeeping firms.
We are a boutique brokerage firm specializing in the accounting field that concentrates on personally and effectively servicing our clients. We promptly respond to all inquiries from both sellers and buyers, moving the transaction forward to a successful conclusion for all parties involved.
Our brokerage firm has an extensive list of CPAs, Enrolled Agents, and Accountants who have expressed interest in purchasing another firm. We advertise in various state CPA, Enrolled Agent, and Accounting magazines as well as websites that specialize in accounting firm brokerage. Additionally, we regularly send emails to thousands of CPAs, Enrolled Agents, and Accountants nationwide. Firm listings are on our website, which has a very large following among prospective buyers.
We sell CPA, Enrolled Agent, Tax and Accounting firms due to our unique experience and expertise in that area. Therefore, we do not co-broke with other firms. Managing the process also helps preserve confidentiality, which is critical in our business.
The company name and exact location are not used in our advertising. Prior to sharing detailed information, we require the prospective buyer to sign a non-disclosure agreement.
Most firms sell within one year. Location and firm size affect the length of time to sell. Firms in smaller towns take longer, whether the firm is large or small. Because most prospects want to buy firms in larger cities, those firms sell faster. Generally within the larger markets, the length of time a practice is listed before being sold is directly proportional to the size of the firm. The larger the firm, the longer the amount of time.
While there are numerous ways to estimate a firm’s value, our experience has shown that using the owner benefit percentage more closely matches the ultimate appraised value. This will help determine the asking price. Other factors, such as the existence of experienced employees, the location of the firm, the nature of the client base, and several other factors should be considered and evaluated. Because the banks that finance the transactions require appraisals of the business, a reasonable asking price is required. Based upon our experience, we have the ability to assist in estimating a value.
A 100% cash deal is improbable unless one is willing to discount the price of the firm. Banks have been funding the majority of the purchase price, with the balance coming from a combination of the buyer down payment and some seller financing.
We will provide you with a list of items that we need for the process. The list will include copies of tax returns, profit and loss statements, and types of software your firm uses, employee descriptions, billing rates, and other items. We will assemble the information into a presentation package that will be provided to interested prospects who have signed non-disclosure statements.
When sellers work with the buyers developing relationships with the clients during the transition period, history shows client retention is high. We share techniques that buyers and sellers could use to maximize client retention.
The following firms have experience in lending funds for acquisitions of CPA, EA, tax and accounting firms. Click on the links below to connect with professionals who can help you with your financing needs:
Acclivity Financial is an SBA Preferred Lender providing loans from $200,000 up to $5 million. https://acclivityfinancial.com/akins-professional-brokerage
Live Oak Bank provides loans from $75,000 to $5 million. Website http://go.liveoakbank.com/akins