How do I find an accounting practice for sale?
Use several routes at once: listing sites and practice brokers, retiring practitioners in your own network, and direct approaches to owners whose practices fit yours. Before the first call, be ready to explain your fit, your capacity and how you would serve their clients. Ask the CPA body about who may own a practice.
Some accounting practices change hands quietly, without a public listing. That means a buyer who relies on one source will see only part of what is available. A good search combines visible listings with relationships and direct conversations. It also needs preparation, because owners selling a practice care about who will take care of their clients. This is different from the sector-neutral advice in finding businesses for sale by owner.
Listings and practice brokers
Listing sites show practices that owners have decided to sell, and some brokers focus on professional practices. Tell a broker the size, kind of work and location you want, and what you can offer. Brokers are partners in this process, and they may know of sellers who have not listed yet. Keep your criteria clear so they can match you.
Your own network
Retiring practitioners, former colleagues, lawyers and bankers hear about sales early. Let people you trust know what you are looking for. A seller who already knows you may prefer you to a stranger, because the clients matter to them.
Approaching owners directly
Writing to the owner of a practice that suits you can start a useful conversation, even if they had not thought of selling. Keep the first note short and respectful, and offer to keep it confidential.
Be ready before the first call
Sellers will ask about your background, the kind of clients you serve, whether you have room for more work and how you would treat their clients. Write short answers in advance. Ask your professional body who may own a practice, and take a look at what buyers of an accounting practice underestimate.
Related reading
15 pages on the same subject, grouped by topic.
Buying
- GuideBuying an accounting firm or practice in Canada
- Expert answerWhat do buyers of an accounting practice often underestimate?
- Expert answerAm I liable for past malpractice claims if I buy a professional practice?
- Expert answerHow does buying an accounting practice compare with starting one?
- Expert answerHow do I introduce myself to clients after buying a bookkeeping practice?
- Expert answerShould I keep the practice manager when I buy an accounting practice?
- Expert answerWhat should I change first after buying an accounting practice?
Due diligence
Selling
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 02Chartered Professional Accountants of British ColumbiaRegulatorProfessional Accounting Corporation
- 03Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
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