Strategic Insight: How Long Does It Really Take to Sell an Accounting Practice?

A common question from first-time sellers is, “How long will it take to sell my accounting practice?”

While every transaction is unique, most accounting practice sales take three to six months from the time a practice is listed until the transaction closes. More complex transactions or larger firms may take longer, while highly desirable practices in strong markets can sometimes sell more quickly. The time of year a practice lists is also a considerable factor. Listing towards the end of the year typically adds a lengthy delay
because of the upcoming tax season; buyers and/or sellers become too busy with tax season preparation and obligations to focus time and energy on completing the sale.

Within the sales timeline for any practice sale are these fundamental stages:

Preparation

Before going to market, financial information is organized by the seller, a valuation is completed, and marketing materials are prepared. This stage has three benefits: 1) preparing clear and comprehensive financial information shows buyers that the practice is efficient, well-managed, and has a history of complete records; 2) a valuation sets proper expectations for the true market value of a firm; and 3) taking the time to present the practice professionally often leads to stronger buyer interest.

Marketing and Buyer Screening

Once a practice is listed confidentially, qualified buyers review the opportunity, execute non-disclosure agreements, and evaluate whether the practice is a good fit. At NCI, we also require a personal financial statement, or other proof or resources, from all potential buyers to vet their financial capability. Doing so helps avoid wasting precious time for all parties. Serious buyers then request additional information and begin discussions with the seller. 

Due Diligence and Financing

After an offer is accepted, buyers perform due diligence by reviewing financial records, client information, staffing, and operations. If financing is involved, lenders will also complete their underwriting process during this stage. Note that bank/SBA financing typically adds anywhere from 30-60 days to the process.

Closing and Transition

Once legal documents are finalized and financing is approved, the transaction closes. Most sellers remain involved post-sale for an agreed-upon transition period to introduce clients, assist the buyer, and help ensure a smooth transfer of the practice. 

What Can Delay a Sale?

Several factors can extend the sales timeline, including unrealistic pricing expectations, incomplete financial records, financing delays, or difficulty reaching an agreement on the deal or contract terms. Proper preparation and experienced guidance from NCI can help avoid many of these obstacles. 

The Bottom Line

Selling an accounting practice is not typically a quick process—it requires planning, patience, and careful execution. Starting early gives you time to prepare your firm, attract qualified buyers, and negotiate the best possible terms without feeling rushed. 

Interested in purchasing an accounting practice?

At New Clients, Inc., we guide accounting firm owners through every step of the sales process—from valuation and confidential marketing to negotiations, due diligence, and closing.

If you’re considering selling your practice, contact me today to schedule a consultation by emailing [email protected] or calling 856-404-0949.