Why Sell Your Accounting Practice with ProHorizons?
Take your next step today. Contact us for a confidential, complimentary consultation.
First, consider some of the real-world scenarios we have encountered when working with clients and engaging financial professionals at industry conferences, trade shows, events, and on blogs:
- “I underestimated the value of my business.”
- “I sold my business to the wrong buyer and all of my clients fled.”
- “I thought I’d make more money selling myself, but I lost my shirt.”
- “My employees’ buyout turned into a disaster.”
- “I took a low down-payment earn-out and the buyer cherry-picked my clients.”
Why Our Clients Chose ProHorizons
They are concerned about confidentiality. We’ve been guiding practice transitions since 1995 and know the importance of keeping a pending sale quiet. We pride ourselves on keeping our sellers’ staff, competitors and clients in the dark.
They do not know how to sell on their own or do not want the hassle involved. Of course, why else hire an expert in selling practices? Unfortunately, many find out too late that the broker they hired is little more than a match maker and handles only the initial phase of connecting the buyer and seller. We feel this is one of our biggest differentiators as we handle all of the details from start to finish and take on most of the busy work so our clients can focus on running their practice and providing good service to their clients. See our Practice Sales Methodology for more information on the extent of the service we provide.
They have tried to sell on their own and were not able to find a buyer or settle on terms. We have an extensive pool of qualified buyers. In addition, our transaction knowledge benefits our clients when it comes to structuring and negotiating acceptable terms.
They found a buyer but could not finance the purchase price. We have long standing relationships with financing sources to help our clients receive more cash at closing.
They are too personally invested to objectively evaluate and choose a buyer. We approach the sale of any practice with a high degree of objectivity. Selling a practice is a huge step and brings a range of emotions. Our objectivity helps diminish influencing emotions so the deal can be completed.
They appreciate our candor. We share the bad news along with the good. We want our clients to make the best decisions they can, and to do so, they need to have all salient information relevant to their transaction.
Case Example: For Sale By Owner vs. ProHorizons
Let the numbers be your guide. Below is a comparison of For Sale by Owner and ProHorizons’ sales results, highlighting transaction aspects most commonly determining a successful sale:
|Result||For Sale by Owner||ProHorizons|
|Cash down at closing||34%||100% (average 60%)|
|Sold at gross revenue multiple greater than one||32%||84% (average multiple 1.11)|
|Sold for gross revenue multiple less than one||36%||9%|
|Retention clause longer than two years||50%||0%|
|Carried a note with repayment terms longer than five years||53%||0%|
|Terms included earn outs (high risk to seller)||Most||0%|