As the new year begins, many of us take a moment to reflect on whatâs ahead. For some, this is the perfect time to think about their future and start planning an exit strategy. I recently spoke to a few people about this, and their perspectives were interesting.
One Accountant shared that theyâre ready to take the next step, believing that now is the ideal time to get out while the market is strong. Another admitted they hadnât thought about work at all over the holidays but the demand from clients was tiring.
Whether youâre ready to act or havenât started thinking about it yet, the start of a new year is the perfect opportunity to pause, reassess, and plan for whatâs next. đ
Why Now Is a Great Time to Start Planning
If youâve been considering selling your practice, 2025 could be the ideal year to make your move. Buyer interest in Accounting practices remains high, and starting your planning early gives you the best chance to:
- Maximise your practiceâs value by preparing your financials and doing your best to retain clients. đ
- Find the right Buyer or Merger Partner who aligns with your values and prioritises your clients and staff. đ¤
- Ensure a smooth transition by giving the Buyer plenty of time through the client handover process. You don’t want only to have three months of transition time.
Timing is everything, and the earlier you prepare, the better positioned youâll be to achieve your goals.
What If You Havenât Started Thinking About It?
If youâve enjoyed the holidays without thinking about work, thatâs completely normal. Taking a break is important, but the beginning of the year is also a great time to look ahead. Consider these key questions:
- Whatâs your long-term goal for your practice?
- How much time do you need to prepare your business for a sale or transition? In other words, think backwards from transition time to sale process to getting your practice ready.
- What steps do you need to take now to secure the future of your clients and staff?
Even if youâre not planning to sell this year, having a clear plan will make the process much smoother when the time comes. đą
How We Can Help
Planning your exit strategy can feel daunting, but you donât have to do it alone. At Abacus Business Advisors, we specialise in guiding Accountants through this process with confidence.
From market insights đ to assisting you in preparing your practice, to connecting you with the right buyer or merger partner, weâll support you every step of the way to ensure a smooth and successful outcome.
Closing Thoughts
Whether youâre ready to start planning your exit or just beginning to think about it, the start of a new year is the perfect time to act.
If youâd like to explore your options or learn more about the process, weâd love to help you take the next step. Letâs make 2025 the year you set yourself up for success. đŻ
Happy New Year!!
If you’re thinking about buying or selling a practice and want advice from a trusted, experienced team, we’re here to help.
Call us on 1300 121 013.