Office next to another practitioner

Looking to move into commercial space and out of home office. There is limited space in my town, where I'd like to remain, as its where most of my client base is. I found small office space in a relatively small building. Price is right, location is right. Only possible issue is there is a tax practice already on the building and would be right next door to my office. Another solo practitioner I have not met.

Would this be a deal breaker for any of you? I've always found other preparers I've met in classes to be very nice, helpful and non-competitive. But I don't know if moving literally next door in the same building would be 'encroachment' and generally a bad idea. All other aspects of the space are perfect for me.

Any thoughts would be sincerely appreciated

Would this be a deal breaker for any of you?

Only if my practice depended on walk-in traffic. Otherwise, it's no different than coming up next to each other in internet search results.

I agree with Makbo. If your business is primarily walk in traffic and so is the competitor then such close proximity will lead to a pricing war in my opinion. In my town there is a office building with three CPA offices!

Few tax practitioners, in my experience, rely on walk-in traffic unless they are located in a strip mall like Liberty Tax, among many others. I would not be opposed to it, but I would certainly introduce myself and get a feel for them and their thoughts before committing to a lease. I would not generally view it as competitive, but a potential benefit. I would enjoy being next to a nice CPA or tax practitioner so we could bounce ideas off each other, or refer work when the other is better qualified to handle it.

I appreciate your thoughts and input. I spoke to the preparer, very nice and understanding. Said he didn't have a problem with it, so I'll be moving forward with the lease. Thanks again for your guidance.

Liberty Tax I believe yesterday or Tuesday it was one of the biggest % movers for stock. WHY?? I think it was like 45%, Even if small and narrowly traded that is a BIG jump?

I think close connections in the business is usually a benefit!!!

Liberty Tax I believe yesterday or Tuesday it was one of the biggest % movers for stock. WHY??

You can find news items by searching the internet. Here's one from two days ago.

"Liberty Tax Inc. shares climbed as much as 28 percent, the most in more than six years, after founder John Hewitt agreed to sever ties with the company and sell all of his shares following a sex scandal that had already cost him his job as chief executive officer."

https://www.bloomberg.com/news/articles ... leave-firm

Few tax practitioners, in my experience, rely on walk-in traffic unless they are located in a strip mall like Liberty Tax, among many others. I would not be opposed to it, but I would certainly introduce myself and get a feel for them and their thoughts before committing to a lease. I would not generally view it as competitive, but a potential benefit. I would enjoy being next to a nice CPA or tax practitioner so we could bounce ideas off each other, or refer work when the other is better qualified to handle it.

agreed... there are 3-4 CPA's in my building.

Like a medical office, many Docs in same building.

My whole floor is CPA's, we share some research resourses [easier when it was in paper format], have held joint cpe classes, besides having others to sometimes bounce ideas off of. Just think how great it will be to see life around you when putting in your 80th hour during March.