Are you thinking of purchasing an accounting practice in California? Buying a practice is serious business and you’ll definitely want to do some research in advance. Regardless of your reason for buying, it’s important that any potential acquisition be a match for your specific skills and needs.
Established current practice owners, experienced practitioners entering the ownership realm, and newly minted CPAs, EAs and other tax and accounting professionals share common concerns when looking to buy a practice.
- Is the practice I’m buying really worth what I’m paying for it?
- How much should I put down?
- Can I get financing in this lending environment?
- Will the firm clients stay with me?
In addition to the questions above, location is usually a big factor in determining whether to buy a practice.
Since you’re reading this article, accounting practices for sale in California are probably already on your radar. If they aren’t, let’s look at a few reasons why they should be:
- Optimistic occupational forecasts continue to make the Golden State an attractive place for accounting firms to do business. According to the United States Department of Labor, there were 151,900 accountants and auditors working throughout California in 2012. Due to the demand for services, this number is expected to climb to nearly 177,500 by 2022.
- The US Department of Labor has predicted a national job growth increase for accountants and surrounding professions of 13%, while The California Employment Development Department predicts job growth in these areas of 16.9% in California through 2022.
- California is one of the top paying states for the accounting and bookkeeping industry, according to the Bureau of Labor Statistics.
ProHorizons is a West Coast brokerage and consulting company focusing on tax and accounting practice sales, acquisitions, and practice development services.
Click here to find a full list of the accounting practices for sale in California that we represent.
Do you have questions about buying an accounting practice in California? We have answers. If you’re ready to work with a company that offers personalized attention and an honest aim to understand you, your practice and your goals, contact us. We’d love to help!
*Data compiled by the United States Department of Labor’s Bureau of Labor Statistics in May of 2014. Figures represent accumulated data for all areas of specialty within the field of accounting and auditing