A practice with steady compliance work and a transferable client base is a different asset than one built on a founder's personal relationships, even at identical revenue.
Recurring versus project work
Annual tax compliance, audits, bookkeeping, and retainers are predictable and transferable. One-time advisory and litigation work is neither.
Client concentration and tenure
Long-tenured clients spread across many relationships transfer far better than revenue concentrated in a handful of accounts.
Partner and owner dependence
How much work the owner personally performs, versus supervises, determines both value and how long a transition needs to be.
Staff continuity
Credentialed staff and long-tenured administrators carry institutional knowledge and client familiarity that buyers pay for.
Billing realization and rates
Standard rates matter less than what actually gets billed and collected, and how consistently scope creep is captured.
Systems and workpaper quality
Documented processes, current software, and organized files reduce a buyer's transition risk in a very tangible way.
Licensure and professional rules
Ownership of a licensed practice, client consent requirements, and professional conduct rules vary by profession and by state, and they shape what a transaction can look like. We identify these constraints at the outset and work alongside your counsel so the structure is sound before terms are agreed.