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1. A Lower Mainland general accounting practice with $150,000 of recurring billings might sell on the following terms:
* Selling price for practice goodwill of $150,000 or "one times annual billings."
* An upfront cash payment of $40,000, with the balance payable quarterly over three years, no interest.
* A downward price adjustment for clients lost in the first year following the sale.
* If the practice is incorporated, a share sale. The price attributable to practice goodwill will be discounted by $10,000 to $15,000 for lack of tax shield.
2. The most saleable general accounting practices are sole-proprietorships with billings between $50,000 and $250,000.
3. If the "goodwill" is personal, it has no value.
4. In today's market, compilation engage-ments are often considered more valuable.
5. The higher the potential for billing and profit growth, the more valuable the practice.
6. There is a ready and active market for practices in the Lower Mainland, southern Vancouver Island, and the Okanagan. Outside of these urban areas, it's a tougher sale at a lower price.
7. Practice sale proceeds are generally paid for over time, without interest. Because prices are almost always discounted for post-sale client losses, sellers continue to bear part of the business risk.
8. On average, practice prices today are higher than they were ten years ago.
9. Many of the CAs who qualified in the 1970s and started practices in the 1980s will be retiring within ten years. Accounting practice prices in ten years may be substantially lower because, with a large proportion of the CAs who qualified in the 1990s going into industry rather than public practice, there may well be a shortage of buyers.
10. For an example of practice pricing risk, look at the market for general medical practices. Ten years ago, Lower Mainland GPs' practices were saleable. Goodwill was 50% to 60% of annual billings. Today, GP practice goodwill is zero. Why? General medical practice is no longer financially attractive. Walk-in clinics offer doctors attractive remunerations with no administrative hassles. With a surplus of patients, why buy a practice?更多精彩文章及讨论，请光临枫下论坛 rolia.net
1. A Lower Mainland general accounting practice with $150,000 of recurring billings might sell on the following terms:
* Selling price for practice goodwill of $150,000 or "one times annual billings."
* An upfront cash payment of $40,000, with the balance payable quarterly over three years, no interest.
* A downward price adjustment for clients lost in the first year following the sale.
* If the practice is incorporated, a share sale. The price attributable to practice goodwill will be discounted by $10,000 to $15,000 for lack of tax shield.
2. The most saleable general accounting practices are sole-proprietorships with billings between $50,000 and $250,000.
3. If the "goodwill" is personal, it has no value.
4. In today's market, compilation engage-ments are often considered more valuable.
5. The higher the potential for billing and profit growth, the more valuable the practice.
6. There is a ready and active market for practices in the Lower Mainland, southern Vancouver Island, and the Okanagan. Outside of these urban areas, it's a tougher sale at a lower price.
7. Practice sale proceeds are generally paid for over time, without interest. Because prices are almost always discounted for post-sale client losses, sellers continue to bear part of the business risk.
8. On average, practice prices today are higher than they were ten years ago.
9. Many of the CAs who qualified in the 1970s and started practices in the 1980s will be retiring within ten years. Accounting practice prices in ten years may be substantially lower because, with a large proportion of the CAs who qualified in the 1990s going into industry rather than public practice, there may well be a shortage of buyers.
10. For an example of practice pricing risk, look at the market for general medical practices. Ten years ago, Lower Mainland GPs' practices were saleable. Goodwill was 50% to 60% of annual billings. Today, GP practice goodwill is zero. Why? General medical practice is no longer financially attractive. Walk-in clinics offer doctors attractive remunerations with no administrative hassles. With a surplus of patients, why buy a practice?更多精彩文章及讨论，请光临枫下论坛 rolia.net