Written Chris Sheedy of The Hard WordWhen timing and preparation align, selling a bookkeeping practice can unlock massive value for the seller and the buyer.
For more than two decades, Jo Williss put her clients ahead of everything. Her bookkeeping business Being Accountable started in the corner of her living room and quickly evolved into a mature and profitable practice run by a capable team serving over 170 clients.
However, the demands of running a successful business began to collide with the realities of life beyond that business. Fifty-hour weeks between Mondays and Fridays, and another half to full day each weekend, meant the workload was intense and disruptive to her lifestyle.
For several years this was reality, but Being Accountable was respected and Jo enjoyed her relationships with staff and clients. Then, circumstances changed.
“My parents became ill,” she says. “Suddenly, there just weren’t enough hours in the week to stay on top of everything. And that started to affect my health, too.”
There was only one thing that could give if Jo was to retain control over the various demands in her life. “That was to change what I was doing with the business,” she says.
Importantly, Jo chose to act before burnout took hold.
In a way, Jo had prepared for this decision over a long period. “I’d spent years trying to make myself almost superfluous in the business,” she says.
While she admits to not having absolutely achieved this goal, Jo says the preparation created a strong foundation for her own extraction from the business for the purpose of a sale. The team was capable, strong systems were in place and the business had a consistent financial growth record.
“It never once made less money than the year before,” Jo says.
For buyers, that consistency is often more attractive than rapid growth, says Kev Ryan, lead advisor at SELLERS.
“That track record, and clear evidence supporting it, offered real confidence to potential buyers,” Kev says.
The sale process required deliberate, conscious preparation. Financials, client profiles and staff details had to be documented in a way that made the business’s positives clear to potential acquirers.
This is where external guidance from Kev became critical.
The role of an intermediary
“I knew Kev understood the industry, and I also knew he had a big list of names in terms of sales he’d managed, behind him,” Jo said.
That network proved decisive. Rather than going to market broadly, Kev was able to approach a targeted, pre-vetted group of potential buyers, quickly narrowing the field to avoid time wasting.
More importantly, he structured the process in a way that reduced the burden on Jo.
“I simply didn’t have the headspace to deal with more tasks on top of what I was already doing,” she says.
Kev’s approach, Jo says, was to anticipate buyer questions and gather information upfront.
“He knew what everyone would be asking, so I had supplied all of the relevant answers and information by the time he was putting the feelers out.”
From there, the process became manageable – a shortlist of buyers, a series of meetings and guided negotiation.
As Kev says, “Most owners think selling is about finding a buyer. It’s not. It’s about preparing the business so a buyer can say yes quickly and with confidence.”
Filtering the buyers
One of the most interesting parts of the process was how Kev approached potential buyers. The meetings were never about price alone, they were also about fit.
Jo was looking for alignment in philosophy and approach. She knew of numerous accounting firms that had bookkeeping arms that they claimed made no profit. This told her that such accounting firms had no idea how to run a bookkeeping business.
“And so I was looking for a buyer that was going to fit with my clients and fit with my staff,” she says.
After selected meetings set up by Kev, Jo met a buyer who understood the value of what she had built.
“I knew my baby was going to be safe,” she says.
That buyer was Frank Kleinig from accounting firm Wright Evans Partners.
For Frank, the acquisition was less about absorbing the business and more about filling a service gap for his own clients.
“Over time, it will allow us to transition some work from accounting to bookkeeping to allow us to concentrate on more lucrative advisory work,” Frank says. “It also gives another service offering for our clients on top of accounting, financial planning and loan broking.”
Life after sale
The sale process began in February and was finalised in November. Rather than stepping away immediately, Jo agreed to a phased transition.
“From the day of transfer, I would go to a four-day week,” she says. “Then in the second six months, three days a week, and then I finish.”
That gradual exit supported Jo professionally and personally and enabled continuity for clients and staff.
The benefits are already clear, she says, with improved balance and the ability to focus on family.
Lessons for practitioners
For bookkeepers and accountants considering a sale in the future, several lessons can be taken from Jo’s experience.
One is that preparation matters. A business that can operate smoothly without its owner is an attractive acquisition.
The second, closely connected to preparation, is that timing matters. If the business is prepared for a sale early, the owner can jump when they plan, rather than when they’re forced.
And third, the right support during the sale process will materially change the outcome. When fit matters as much as price, the process must be managed by a steady, experienced hand to remove risk.
“The only successful deals are the ones where both sides feel like they’ve gained something,” Kev says. “That’s when the business keeps working long after the sale contract is signed.”
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