Should You Merge? Here’s How to Chart Your Path
Lease renewals trigger this concern, but they’re not a good reason.
By Ed Mendlowitz
202 Questions and Answers: Managing an Accounting Practice
Question: I signed up with a broker who introduces buyers and sellers of CPA practices, to find someone who would buy my practice when I want to retire. I don’t want to retire yet, but am starting to think about it. The broker suggested a merger now combined with a buyout deal when I am ready to retire. Am I going about this in the right way?
MORE: A Friendly Chat or a Billable Discussion? | Busy Season Is Over, So It’s Time for Some Resolutions | Want to Merge? Six Steps to Take | How to Start Providing Family Office Services | Every Accounting Firm Needs Quality Control | No One Listens to You? Change How You Talk | 47 Types of Business Valuation to Provide | Thirteen Things to Consider Before You Sell Your Practice | Uncooperative Partner Might Not be the Problem
Exclusively for PRO Members. Log in here or upgrade to PRO today.
Response: I get a lot of calls similar to this when lease renewals are coming up, or a tenant is lost and a merger could fill up the space, a key employee is lost or a major client is lost. In my opinion, these are not reasons to merge. Merging is a major change of life and needs to be done with great care.
READ MORE →