Tanya Farmer


Recent posts by Tanya Farmer

2 min read

Common Misconceptions When Selling an Accounting Practice

By Tanya Farmer on Oct 7, 2020 2:18:08 AM

Selling an accounting practice is something most business owners do only once. Due to the fact that most accounting practice owners have never embarked on such an experience, knowing what to expect can cause fear and skepticism in moving forward with a transaction. Fear and skepticism, in turn, can hinder the selling process and make it much more difficult to agree on terms. With that in mind, if you are about to sell your practice, below are the most common misconceptions associated with such sales and the truth behind them.

Topics: Business Owners CPAs Sellers Accounting
3 min read

How Much is a Physical Therapy Practice Worth? How to Value Your Physical Therapy Practice.

By Tanya Farmer on Jul 29, 2020 7:46:00 AM

Valuing a physical therapy practice is part art, part science, and part math. Generally, the math and science, which we discuss below, is more easily calculated. It is the art – knowing how to sell a business and to whom – where true value is realized. For purposes of this article, we will discuss the valuation of a physical therapy practice where a controlling interest and/or 100% of assets are sold. 

Topics: Business Owners Physical Therapists Sellers
2 min read

Two Important Questions When Considering Buying an Accounting Firm

By Tanya Farmer on Jul 6, 2020 9:48:00 AM

As exciting as it is to buy an accounting firm, you will also likely have many questions during the process. You will want to know about the current clients within that firm, the employees and whether you will need additional staff, and how you are going to market your new business. These are all valid questions, and you should ask them at some point in the acquisition process. Before you do, though, there are two important questions you need to ask yourself first.

Topics: Buyers Business Brokerage Accounting
2 min read

How to Keep Clients When Purchasing an Accounting Firm

By Tanya Farmer on Jul 1, 2020 5:00:59 AM

Acquiring and retaining new clients is one of the biggest concerns for any accountant, second only to recruiting and retaining good employees. While client retention is a challenge for all accountants, it is of particular concern when purchasing an accounting firm. To ensure that you retain all, or at least most, of the current clients, follow the four tips below.

Topics: Buyers Business Brokerage Accounting Client Retention
2 min read

Want to Buy a Law Firm? Read This First

By Tanya Farmer on Mar 17, 2020 4:08:56 AM

Whether you are venturing out on your own and plan to start your own law firm, or your current firm is expanding, you may be thinking it is time to buy a law firm. Buying a law firm is a bold move and one of the biggest decisions you will make in your career, so it is important to first consider a few important factors. Below are some things to keep in mind when it is time to start searching for a law firm for sale.

Topics: Buyers Business Owners Lawyers Legal
2 min read

Succession Versus Sale

By Tanya Farmer on Dec 12, 2019 5:40:23 AM

In the most recent issue of the Oregon State Bar Bulletin, Lee Wachocki provides a great strategic insight into the option of choosing a successor rather than selling your practice. Our very own Justin D. Farmer contributed to the article, titled “Sales Isn’t The Only Option.” You can read the full piece by clicking here. Following is our own synopsis and comments:

Topics: Sellers Consulting Services Business Succession
3 min read

How to Determine What My Law Firm is Worth

By Tanya Farmer on Nov 27, 2019 2:31:40 AM

You have worked hard and built your law firm into something that you are immensely proud of and that you value a lot. When it comes time to sell your firm, however, it is not the value you place on it that matters. You need to determine how valuable potential buyers will find your firm because that is what you will ultimately receive for it. While you may think it is going to be difficult to ignore your own emotions when evaluating your law firm, there are a few factors you can use to help you step back and really see how much your firm is worth. 

Topics: Lawyers Sellers Consulting Services Legal
4 min read

How to Sell an Accounting Practice for Top Dollar

By Tanya Farmer on Oct 25, 2019 2:05:00 AM

Baby Boomers are retiring en masse across all industries. And while the majority of accounting firm owners are baby boomers who are near the age of retirement (65 or older), just as many younger professionals are coming of age and seek to run their own businesses. For the former group, whether you want to retire, semi-retire (perhaps you just want the freedom to travel without firm administration hanging over your head), transitioning the ownership of your firm should be high on your list of priorities. If you are asking, “How can I sell my accounting practice and get top dollar?” you will want to consider the tips below. 

Topics: Business Owners CPAs Sellers Consulting Services Accounting
1 min read

Justin Farmer Named to South Sound Business 40 Under 40 Class of 2018

By Tanya Farmer on Nov 5, 2018 12:06:27 PM

TACOMA, Wash. (Oct. 3, 2018) – Justin D. Farmer, 36, Founder and President of Private Practice Transitions, Inc., a Gig Harbor-based professional business brokerage, has been named to South Sound Business magazine’s 40 Under 40 list for 2018.

Topics: press release staff PPT News
2 min read

SBA Loan Programs – An Introduction

By Tanya Farmer on Nov 14, 2015 7:03:44 AM

As we have established thus far, the U.S. Small Business Administration (SBA) is designed to help you get the funding you need to start, purchase or expand your small business. Though the SBA does not lend money directly, it does back and supervise the lending process, removing much of the uncertainty for both lenders and applicants alike. This article provides a brief overview of each of the SBA’s four main loan programs. I will be discussing each loan program in more detail at a later date.

Topics: Buyers Business Owners Consulting Services Small Business Administration