Purchasing an Accounting Firm - Experience Share with Ravi Patel | Accountant's Flight Plan Podcast

Learn how Ravi is scaling his current practices & process, and his #1 recommendation to buyers! In this episode of Accountant’s Flight Plan, we got to chat with one of our recent firm buyers, Ravi Patel. Ravi purchased his latest firm in 2022 through Poe Group Advisors. He shared his insights through the process! We discussed key things that buyers look for, and what sellers should be keeping top of mind when going through the sales process with prospective buyers. Ravi and I talked about why sellers should be open in discussions with buyers about not only the pros & cons of their firm but also practice improvement opportunities. Ravi also shares mistakes he’s made on previous acquisitions and what future buyers can learn from them. We know you are going to gain a lot from this conversation whether you’re looking to acquire a new firm or a seller looking to optimize your firm for an exit. This Podcast Touched On 00:37- Introduction 01:48- How Ravi chose public accounting 03:37- When Ravi knew the firm was a good fit 06:00- What was on Ravi’s mind with his first seller meetings 07:57- How Ravi felt right before close 10:09- The skill set you need to be a buyer 12:56- Advantages of growth through acquisition 1529- Staff retention after acquisition 17:40- Book recommendations and advice Check out the full episode here: https://poegroupadvisors.com/podcast/ 🎧 Subscribe to the Podcast: https://poegroupadvisors.com/podcast/ ❓FAQ’s for sellers: https://poegroupadvisors.com/selling/... Succession Planning Guide https://poegroupadvisors.com/successi... 💸 What is your firm worth? https://poegroupadvisors.com/blog/cpa... 📱Book a strategy call: https://poegroupadvisors.com/plan-you... 🎙️Upcoming Speaking Events: https://poegroupadvisors.com/events/ 💻 Poe Group Advisors: https://poegroupadvisors.com/ 📚 Accounting Practice Academy: https://www.accountingpracticeacademy... ✅ Subscribe to the channel:    / @poegroupadvisors   🤝 For Acquisitions https://poegroupadvisors.com/buying/p... ******************************************************************************************** Poe Group Advisors: Helping accountants buy, build, and sell exceptional firms. Poe Group Advisors is the premier accounting practice intermediary firm in the industry. With over 20 years of experience in the accounting industry Brannon Poe’s work helping certified public accountants in brokerage and acquisitions has made Poe Group Advisors one of the premier consulting firms in the business. Buying or selling a CPA firm is one of life’s most significant ventures. Qualified buyers looking to buy an accounting firm want to find the right business opportunity and accounting practice sellers want to find the right buyer. For those looking to improve their firm for long term growth, our expertise can help maximize cash flow, increasing the bottom line and making your firm the best and most profitable that it can be. We offer many resources including Accounting Practice Academy: a community-based, 8-week workshop designed by Brannon Poe for accounting firm owners who want to increase profitability and reduce owner hours. As well as a TOP 50 featured accounting blog, the Accountant’s Flight Plan podcast and books on the issues that matter most: Prepare Your CPA Firm for a Sale , The Unplugged Vacation , and Scaling Your Cloud Accounting Practice to name a few. Subscribe for more resources to make your CPA firm the best that it can be!