December 4, 2020  
 
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Selling a Company

 

Selling an Auditing Firm

In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your auditoring firm.

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an auditoring firm sale works.
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Despite the conventional wisdom, we believe current economic conditions are right for selling an auditoring firm. We'll tell you what you need to know to achieve a successful sale outcome

Seller Concessions

Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.

Advantages of Hiring a Broker

Brokers give auditoring firm sellers distinct advantages in the marketplace. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.

Laying the Groundwork

Effective auditoring firm preparation focuses on communicating value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Financial statements, appraisals, operations manuals and other documents lay the foundation for your auditoring firm sale, creating incentives for prospects to agree to a higher asking price.

More Exit Planning Articles

Given your interest in exit planning and in auditoring firms, you might find these additional resources to be of interest.

Marketing an Auditing Firm

Renewing Leases Prior to Selling a Business

Pros and Cons of Using Business Brokers

Selling Part of a Business


Conversation Board

Sometimes the best tips on selling a business come from other business owners. If you have any tips or advice on how to sell an auditoring firm, we invite you to submit your comments and suggestions.


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