A couple of weeks ago I was having lunch with a fellow CPA. I had been meaning to stop by and see his operation for years. I am always willing to borrow a good idea from a peer.
But I also wanted to talk to him about one of my growth plans for 2014. I have added finding elderly CPA’s who do not have a retirement plan and want to sell out and keep working as a goal for the year.
The idea is to locate those CPA’s who work out of their homes and would like to retire in the next 3 to 5 years and buy them out and then hire them to continue working with the clients to smooth a transition to my staff and myself continuing to work with them. Assuming we have the correct fit on approach and style of handling and servicing clients.
This allows them to get a paycheck, get value for their business; cut expenses and the bother of running a CPA office.
As I explained it to my colleague he sat back thought about it for a moment and then stated “you will find hundreds that will want to take you up on this”.
I explained that I have talked to a number of CPA’s, but none have wanted to even consider the possibility of this plan. They may not have a plan, but they do not want to cede control to anyone else.
After going over some more of the details, my friend stated that he thinks he know someone that would be a great candidate. He will approach this peer with the idea and if there is interest I will be brought into the loop.
SO for now, all I can do is wait and talk to more people about my plan for 2014 and beyond.