The Art of Due Diligence Due diligence, or DD as it is often referred, is an integral part of the practice sale or transaction process. For whatever reason, vendors tend to get a little tetchy around due diligence time, concerned about what the purchaser will want to review and what information they need to make…

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Fixed Fees, a Trap for Some Practices The profession, for some time now, has been espousing the benefits of fixed fees. Firms across the country have implemented their use to varying degrees, with some taking an ‘across the board’ approach to implementation. Others remain dedicated to predominately time based charges limiting the use of fixed…

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Are the Kiwis Coming to Snatch Up our Firms? As we enter June, efforts within the practice transaction space will be at an almost feverish pace as purchasers attempt to wind up due diligence activities and finalise contracts for sale. Whilst transactions take place at all times of the year, the January to June period…

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Rent and it’s Potential Impact on Profitability With the release of our benchmarking report early in June, the next couple of months will be a great time for firms to review their main KPIs. After staffing costs, RENT is generally one of the next big ticket items. Commonly, rent represents somewhere between 4.5% – 6.5%…

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Is Now the Time to Bail Out of Your Accounting Practice How is your firm proposing to address the removal of the accountants’ exemption and SMSF licensing requirements as from 1 July this year? Presently, there seems to be five schools of thought. 1. Firms who already offer financial planning services are right to go…

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It Must be Business as Usual When you are Selling Your Practice Getting the timing right when deciding to sell your business/practice can often be difficult. There are personal, financial and emotional decisions to be made as well as pertinent business decisions and plans to put in place. Experience certainly highlights that timing is everything.…

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Contract Chaos – Common Experiences Around Transaction Time Future vendors and purchasers beware. The sale or acquisition of a practice is not easy, with many pitfalls and occurrences that are likely to be unfamiliar to a party conducting this type of activity for the first or second time. Please don’t underestimate the stress such negotiations…

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Two Words to Avoid at All Costs as a Vendor Our firm is continually asked what the market is like for practice sales and purchases. Our common response at present is that it remains very much a vendor’s market with the number of firms looking to acquire a practice or fee base far outnumbering those…

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