It takes on average about 4 weeks to sell an accountancy firm. It takes considerably longer for law firms to sell. As a result, our listings are always overloaded with law firms, with the occasional accountancy practice appearing. Once you list a firm of accountants with us, we will usually have enquiries for you within 48 hours, initial disclosure completed within a week, meetings arranged within 2-3 weeks and a first round of offers within 4 weeks. These will usually be at ‘good’ or ‘exceptional’ levels, which also means that very often one of these is accepted without needing to return to stage 2, which is to explore alternatives as they come in. Usually we will get an additional wave of enquiries between 2 and 6 weeks which opens even more doors for potential sales.
Law firms are very different and take a lot longer to sell – mainly because of the various stumbling blocks along the way – regulatory & professional indemnity insurance issues are the main two. If accountants think they are heavily regulated – try being a solicitor in England & Wales!
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