Originally posted by eek
View Post
For the firms set up by accountants, the marketing is worse, and growth slower accordingly. It may therefore take them 10 years of steady growth rather than 3 years of rapid growth to get to a point where acquirers might be interested. The original accountant owner may well have delegated lots of the work to their team, that's normal, and compulsory (one person can't service 1,000 clients, no matter how good they are!). However they'll still have a deep fondness for both their staff and many of their longstanding clients too. The prospect of selling to PE who will do as you suggest doesn't appeal.
I'd suggest as a client you're far more likely to be "sold", fairly soon, if the "accountancy firm" is owned by bankers/marketers/lawyers/entrepreneurs rather than accountants who earned their stripes at the coal face. We've seen this before, but after it happens regulars here will be lured by and point people to move to the young firm with the shiniest website, and the cycle repeats.
Comment