Practice Broking
Fixed Fees, a Trap for Some Practices
Fixed Fees, a Trap for Some Practices The profession, for some time now, has been espousing the benefits of fixed fees. Firms across the country have implemented their use to varying degrees, with some taking an ‘across the board’ approach to implementation. Others remain dedicated to predominately time based charges limiting the use of fixed…
Read MoreAre the Kiwis Coming to Snatch Up our Firms?
Are the Kiwis Coming to Snatch Up our Firms? As we enter June, efforts within the practice transaction space will be at an almost feverish pace as purchasers attempt to wind up due diligence activities and finalise contracts for sale. Whilst transactions take place at all times of the year, the January to June period…
Read MoreRent and it’s Potential Impact on Profitability
Rent and it’s Potential Impact on Profitability With the release of our benchmarking report early in June, the next couple of months will be a great time for firms to review their main KPIs. After staffing costs, RENT is generally one of the next big ticket items. Commonly, rent represents somewhere between 4.5% – 6.5%…
Read MoreIs Now the Time to Bail Out of Your Accounting Practice
Is Now the Time to Bail Out of Your Accounting Practice How is your firm proposing to address the removal of the accountants’ exemption and SMSF licensing requirements as from 1 July this year? Presently, there seems to be five schools of thought. 1. Firms who already offer financial planning services are right to go…
Read MoreDastardly Deal Breakers Impacting Practice Sales
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Read MoreIt Must be Business as Usual When you are Selling Your Practice
It Must be Business as Usual When you are Selling Your Practice Getting the timing right when deciding to sell your business/practice can often be difficult. There are personal, financial and emotional decisions to be made as well as pertinent business decisions and plans to put in place. Experience certainly highlights that timing is everything.…
Read MoreContract Chaos – Common Experiences Around Transaction Time
Contract Chaos – Common Experiences Around Transaction Time Future vendors and purchasers beware. The sale or acquisition of a practice is not easy, with many pitfalls and occurrences that are likely to be unfamiliar to a party conducting this type of activity for the first or second time. Please don’t underestimate the stress such negotiations…
Read MoreTwo Words to Avoid at All Costs as a Vendor
Two Words to Avoid at All Costs as a Vendor Our firm is continually asked what the market is like for practice sales and purchases. Our common response at present is that it remains very much a vendor’s market with the number of firms looking to acquire a practice or fee base far outnumbering those…
Read MoreWhy the Least Loved Basic Tax Return could have a Silver Lining
Why the Least Loved Basic Tax Return could have a Silver Lining The basic ‘I’ return is probably one of the least loved compliance requirements of the current tax system. Most firms endeavour to avoid attracting such clients or having to complete such work unless of course they are part of a larger family group…
Read MoreAre Practice Sale Prices at a Premium or is Practice Equity Available at a Discount?
Are Practice Sale Prices at a Premium or is Practice Equity Available at a Discount? As part of our annual presentation series on buying or selling a professional practice, I make the statement that ‘the price a practice can or will sell for as a whole of business sale in the open market differs to…
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