Merging or selling your accounting company in Stamford, CT, gives you the chance to walk away from a business that is no longer serving your best interests. You might decide to sell because you want to retire or you have a new business idea.
Merge or Sell Your Accounting Business in Stamford, CT
When is the Right Time to Sell?
The right time to sell a business in Stamford is when you feel ready. We can help anyone unsure of what the future holds, and those who want to sell today. As the economy changes and new students finish grad school, you never know what your client base will look like in the future.
Many people sell because they get weary of working 70 hours plus per week. Also, you might not like dealing with the turnover that you see among employees or clients. Fusion CPA can also assist those who want to merge with one of the established Stamford companies. You have the choice of sticking around or walking away from the merger. If you choose to stay on, you help your employees and clients go through the transition.
The Three Phases
Breaking the process down into three phases lets you systematically complete a sale or merge.
Regardless of why you want to sell a Stamford CT business, you'll first go through the evaluation phase - when you evaluate your company and resources. Finding out your strengths can help you find the right buyer and get more for your company. Assessing your employees will help you decide whether they can make the transition to the new owner or if individual workers can't handle those changes. Performing a simple evaluation can also help you set a timeline for selling or merging. This gives you an idea of how long it will take to find a prospective buyer.
Getting the most out of your company is often hard, especially during market fluctuations. As valuable as you think your Connecticut accounting firm is based on your experiences, buyers will look at it their way. They'll take into account factors such as client retention and overhead costs. Everything from the rent that you pay to your utility bills and employee paychecks are part of your overhead costs. Our experience in the area allows us to help you determine the value of your firm. Using that valuation enables you to get the money that you need for your business.
Once you identify a prospective buyer, it's time to sit down and go over the fundamentals. While you may not get an offer as high as you would like, you can issue a counteroffer. The buyer may accept that contract or suggest a different proposition. After you reach an agreement, you decide what happens next, including whether your old office remains open and what happens to your employees. Contacting your clients to let them know about the new changes is also part of the merger phase.
Trust Fusion CPA
Fusion CPA is a tax planning, accounting, and business advisory company in Atlanta, GA, that can assist with every aspect of your Stamford CT business sale. Other Stamford companies may not offer as much money as you expected because you valued your assets too highly. On the other hand, you risk not making as much as you deserved because you didn't value the company high enough.
Those looking to sell an accounting company in Stamford can rely on us to help them during each of the phases of selling or merging. When you're confident that now is the time to sell a Stamford accounting firm, call Fusion CPA to start the process.
This blog article is not intended to be the rendering of legal, accounting, tax advice, or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.