Justin Farmer

Recent posts by Justin Farmer

2 min read

Key Steps To Take After Purchasing an Accounting Business

By Justin Farmer on Jun 15, 2023 7:01:37 AM

The first few days, weeks, and months after buying an accounting business can worry many as new owners try to find their footing, and old employees worry about stability. Below, we offer some guidance on key steps new owners should take after purchasing an accounting business.

Topics: Business Owners Blog
2 min read

What is Goodwill and How Does One Transition It?

By Justin Farmer on Sep 20, 2021 11:35:00 AM

It is common sense that a business is worth more than its tangible assets, but appraising that extra, invisible value can be tricky. Elements such as reputation, customer base, existing networks, and brand recognition all contribute to the value of a business without ever showing up on the balance sheets. When a business is bought and transitioned, those nebulous, intangible assets are lumped together as something called “goodwill.” And, ironically, goodwill is often one of the largest components involved when calculating a business’s final market value.

Topics: Business Owners CPAs Goodwill
2 min read

Buying a Physical Therapy Clinic? How to Compete Against Large Buyers

By Justin Farmer on Oct 26, 2020 2:00:00 AM

Approximately 50% of physical therapy practices are known as “onesies” and “twosies.” This means that the practice is owned and operated by one physical therapist that runs one or two clinics. Although this business structure works very well for the physical therapist who owns the business, it also means the marketplace is fragmented, and many therapists are finding it more difficult to go up against big buyers.

Topics: Buyers Physical Therapists
2 min read

Four Unique Issues When Considering Technology Companies for Sale

By Justin Farmer on Oct 19, 2020 12:59:33 AM

If there is one industry that people can feel fairly safe entering, or starting a business in, it is technology. It is no secret that technology has come a long way in just the past 10 years, and that tech experts are only going to continue the upward trend by inventing new and exciting solutions every day. However, technology companies for sale come with some unique issues and if you do not know how to handle them, you could be setting yourself up for failure. Below are the four most common issues you will likely face when purchasing a tech company.

Topics: Buyers Technology Tech Companies
2 min read

Common Mistakes When Buying a Physical Therapy Practice

By Justin Farmer on Sep 30, 2020 2:12:02 AM

Buying a physical therapy practice can be a lucrative investment. However, regardless of the financial decisions you have made in your life, it is likely going to be stressful. It is easy to make any number of mistakes along the way, and any one of those errors could set you back, both financially and in opening your clinic. Below are the most common mistakes people make when buying a physical therapy clinic, and how to avoid them.

Topics: Buyers Physical Therapists
2 min read

Four Compelling Reasons to Buy an Accounting Firm

By Justin Farmer on Sep 24, 2020 2:00:26 AM

Certified public accountants (CPAs) have two choices when they want to start their own firm. They can start from scratch, purchasing or renting office space, and build their business from the ground up. Or, they can find an existing accounting firm for sale, purchase it, move in, and start running the business. Both options are attractive and hold many benefits for any CPA. However, below are four compelling reasons to buy an accounting firm, rather than start one up on your own.

Topics: Buyers CPAs Accounting
2 min read

The Benefits and Challenges of Starting a CPA Firm

By Justin Farmer on Sep 21, 2020 3:36:24 AM

Certified public accountants have two choices after earning their degree. They can strike it out on their own, or they can find a firm that is looking for qualified CPAs. The thought of starting a CPA firm and being in control of your own business may be too good to pass up, and it is true that this option has many benefits. However, there are also challenges that come with being independent, and it is important to understand what those are before you hang up your own sign.

Topics: Buyers CPAs Accounting
2 min read

Selling An Accounting Practice? Avoid These Pitfalls

By Justin Farmer on Sep 15, 2020 3:44:17 AM

A quick look at the statistics shows just how many accounting practices are going to be for sale in the next few years. In the United States, 10,000 people will be turning 65 every day for approximately the next 20 years. Additionally, approximately 60% of all CPA firm owners are over the age of 50 and therefore are starting to think about retirement and perhaps selling their firms. This means the competition for CPA firms is going to be aggressive in the coming years. Anyone thinking about selling an accounting practice must avoid certain pitfalls to give them the edge and sell their practice faster.

Topics: Business Owners CPAs Sellers
3 min read

The Steps to Selling a Physical Therapy Practice

By Justin Farmer on Jul 24, 2020 7:43:00 AM

In speaking to countless business owners, we know that making the decision to sell your business is difficult. In large part, fear of the unknown can create analysis paralysis and, ultimately, lead to inaction. Yes, there is much that goes into selling a physical therapy practice, but with proper planning, and the right team, most of the heavy lifting will be done for you. With that in mind, we’ll explain two key steps when selling a physical therapy practice: how to value a physical therapy practice and how to identify qualified buyers.

Topics: Business Owners Sellers Physical Therapy Business Valuation
3 min read

How Do I Know What My Business Is Worth?

By Justin Farmer on Apr 23, 2020 7:40:23 AM



Topics: Business Owners Sellers