Our Largest Accounting Practice Sale to Date
This has been a challenging year in many ways, but as the well-known expression rightly notes, “it’s always darkestbefore the dawn.” A large accounting practice sale brokered by NCI on New Year’s Eve proved this expression to be very true for one of our clients.
On December31, I closed on the largest practice sale NCI has ever sold—and by a lot: mid-seven figures,with nearly the entire selling price paid at closing to the seller! You may recall my November email explaining how Accounting Practice Valuations are changing, and that the old method of using a multiple of gross annual billing was being replaced by using a multiple of EBITDA. This sale clearly demonstrates the impact of valuation changes.
On December 31, I closed on the largest practice sale NCI has ever sold—and by a lot: mid-seven figures, with nearly the entire selling price paid at closing to the seller!
If you are an NCI client, or if you have a practice that is predominantly write-up and taxes and payroll, I have buyers who are willing to pay excellent multiples to acquire your firm.
If you’ve decided the 2022 tax season will be your last, call me now at (856) 304-1035 or email me at email@example.com to discuss the value of your practice and how NCI can help you receive the absolute best price and terms for your firm.
Happy New Year,
Bruce J. Clark, CEO
PS: Even if you are a few years away from selling your practice, we should talk. I may be able to negotiate an agreement allowing you to remain with your firm for an agreed upon timeframe and, of course, continue to receive a salary. This is a great way to ensure client retention is 100%, excluding the normal losses associated with running a practice. It’s the best of both worlds!
Author of:NCI Effect Explosive Client Growth Plan for Accountants and CPAs; Beyond the NCI Effect: Sales Strategies That Matter to Grow an Accounting Practice; and The Seven Secrets to Selling Your Practice on Your Terms(eBook).