{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Business Strategy for CPA's","title":"138 Fetch a High Multiple When You Sell Your CPA Firm with Allan Koltin","html":"","width":"100%","height":180,"duration":2514,"description":"Waiting until you’re cooked to decide it’s time to sell your practice is a guaranteed way to fetch a low price for what you’ve spent a lifetime building.  If you want to optimize the sale price of your business, it takes years of advance planning.  Too many CPAs miss out on money they could have earned, had they known what steps to take and what to implement in order to fetch an attractive sale price.  Here to talk with me today about how to set your CPA firm up to be highly attractive when you’re ready to sell it, is Allan Koltin.  Allan is the CEO of Koltin Consulting Group. In addition to receiving countless awards, accolades, and recognition for his thought-leadership in the accounting profession, Allan has facilitated more than 150 M&A deals in the accounting profession over the past decade, including more than 50% of the largest M&A deals in the profession.   We cover a lot of ground in the sales and acquisition of CPA firms:   THERE ARE TWO KINDS OF DEALS: 1.Owners who are ready to off-ramp. They are wondering: Can they buy us out? Can they afford to? Do they want to buy us out? These are the types of deals where the owner is looking at winding down and wants to sell their asset, because they no longer want to own the business.  2. Strategic, due to technology. I think we’d be better off being acquired The best kind of M&A deal: 50 staff, no clients.    WHAT NEEDS TO BE IN PLACE:   Leadership - having the right people in place Rainmaking - you need to grow enough to provide a 5% wage increase Owning the client - being the trusted advisor Technical - do the work with quality   Clients they can get. The buyer wants people.  The buyer is wondering  When it comes time to monetize the business, the acquirer is wondering, without the owner in place, can we keep everything going? Can we deliver that kind of service?You should be thinking about succession planning from the day you start.  Plan 3 - 5 year before you are done, and use their talent to transition. ...","thumbnail_url":"https://img.transistorcdn.com/AZFvbY29RNsC20PTchqbqXsFoNMjM1040wmYivreg-g/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lZmE1/ODU2OWRkNzA4ZDQ2/ODg2YmEwYjYzNmEw/NjkzNC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}