At Abacus, we take a different approach to connecting Buyers and Sellers of Accounting practices. Unlike others that may simply advertise practices for sale or send out opportunities to a database, we believe in a more tailored and thoughtful process.
Let me give you an example. A couple of months ago, we advised on the sale of a mid-sized practice on the Central Coast of NSW. The vendor vetted a list of 20 Accounting firms we believed were potentially a good fit. We knew most of the Accounting firms on the list and avoided any that the vendor felt weren’t suitable due to previous dealings, such as staff or clients having come from those firms.
We personally called every single firm to gauge their interest—without revealing any details about the vendor or even the specific town where the practice was located. Every firm that showed interest signed a Confidentiality Agreement before learning more about the opportunity. Confidentiality is critical to us, as we want to protect both the vendor and the practice throughout the process.
In the end, it came down to four interested firms, and the vendor achieved a great result. This personalised, discreet approach allows us to connect practices with Buyers in a way that prioritises trust and confidentiality.
Protecting Confidentiality
By using advertisements or emails to a database, selling a practice can sometimes raise unwanted attention, not just from potential Buyers, but also from clients, staff, and competitors. We understand the importance of discretion when selling an Accounting practice. By keeping the process private, we ensure that the transition remains confidential, protecting your reputation and business relationships.
A Personalised Approach
We focus on finding the right Buyer for each specific practice. We take the time to understand what makes your practice unique and fit it with a Buyer who we think would be a good match based on size, values, and approach. This personalised approach means that each Buyer we introduce is carefully vetted, ensuring a potentially better fit and a smoother transition.
Proactive, Not Reactionary
The issue with advertising or emailing opportunities is that it’s often reactionary. It relies on waiting for Buyers to respond, which can stretch the process out unnecessarily. We prefer to line up all the ducks at once and actively seek out Buyers who are a great fit for your practice. That way, we’re not sitting around waiting three months (or potentially a lot more time) for someone to show interest—we’re proactively driving the process forward from day one.
Maintaining Control Through Communication
At Abacus, we avoid the long periods of inactivity that leave Vendors feeling like things aren’t progressing. We don’t sit around waiting, as we are proactive and we keep you informed with ongoing communication, ensuring you know what’s happening at every stage. This way, you stay involved in every step, ensuring transparency and peace of mind throughout the process.
Quality Over Quantity
Sending opportunities to a large database may generate many responses, but not all of them are the right fit. At Abacus, we believe in quality over quantity. By being selective, we avoid wasting time on ill-fitting matches and focus on finding serious Buyers who are well-matched and genuinely interested in your practice and ready to move forward.
Long-Term Success for Both Parties
Our goal isn’t just to facilitate a sale—it’s to create a successful long-term relationship between the Buyer and Seller. By taking the time to find the right match, we help ensure that the new owner will continue to nurture the relationships you’ve built with your clients and staff, leading to a smoother handover and continued success for everyone involved.
Conclusion
At Abacus, we believe that selling an Accounting practice requires more than just listing it for sale or sending out opportunities en masse. It’s about finding the right fit through a personalised, thoughtful approach that benefits both the Seller and the Buyer.
If you’re thinking about selling your practice and want a more discreet and tailored process, we’re here to help.
Call us on 1300 121 013.