business opportunity or job .............

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.

If you are a chartered accountant, the Institute has a specialist who advises in this area - or used to have at any rate.

But the key thing here is whether you want all the risks and hassle of being self-employed vs. the comfort of being an employee. Only you can make this decision. If you want to become self-employed this could be a good opportunity, if the price is right.

This depends totally on your own preferences and long term life plans.
A few points:

1. Turnover means nothing, profitability, cost base and staff cost recovery stats are the key.

2.I would beware any practice that is purported to be "pretty much insulated from the recession", especially if the owner has been priming it for a sale.