I currently work in a small accountancy practice and have been offered an opportunity to take it over. The question I wish to put up for discussion is would this be a worthwhile opportunity or is one better off pursing a salaried position.
Before replying the following factors should be considered:
-I have been working there for several years.
-The practice has a varied client base.
-The practice has a very healthly turnover for its size.
-The practice appears to be pretty much insulated from the recession.
-The age profile of clients is varied.
-I would have to pay fee for the privilege of taking over this business.
-This fee would be paid over 3-5 years.
-The final fee has not been agreed. If for example the turn over for one year is 200,000 then I pay E150.000 over 3 - 5 years (plus rent ever month indefinately)
Or would be better of looking for manager position in larger firm. I am both tax and accountancy qualified.
Before replying the following factors should be considered:
-I have been working there for several years.
-The practice has a varied client base.
-The practice has a very healthly turnover for its size.
-The practice appears to be pretty much insulated from the recession.
-The age profile of clients is varied.
-I would have to pay fee for the privilege of taking over this business.
-This fee would be paid over 3-5 years.
-The final fee has not been agreed. If for example the turn over for one year is 200,000 then I pay E150.000 over 3 - 5 years (plus rent ever month indefinately)
Or would be better of looking for manager position in larger firm. I am both tax and accountancy qualified.