It’s time to be realistic.
By Marc Rosenberg
CPA Firm Mergers: Your Complete Guide
An aging seller who has no successors on staff has four possible exit strategies:
1. Persist in eternally searching for smaller firms with bright young owners to merge in and eventually take over the firm. But ask yourself: Why in the world would a young, successful firm want to merge with a firm that’s older than dirt? Besides, every firm in the country wants to merge in a talented young firm. The competition is formidable.
MORE: Cherry-Pick Your Merger Partner | 34 Steps to Implement a Merger | Where Mergers Go Wrong | What Your Merger Letter of Intent Needs | 61 Things Buyers Should Explore with Sellers | Thirteen Ways to Woo Potential Firm Buyers | One Times Fees Isn’t the Only Way
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2. Continue the endless search for that young manager at a bigger firm who is disenchanted working at such a large firm and would jump at the opportunity to become a partner at your firm. Ask yourself: Why in the world would such a manager want to work for a small firm of old guys instead of joining a more vital, sophisticated firm with much more to offer?
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