Thank you all for the deep insights and chuckles over the years..
Just seeing for those who sold or helped clients sell their firm if it's wiser to sell to a national chain (ie H&R block) vs a boutique/private firm. I gather the multiple (maybe fractional given these times) would be the same regardless?
My three major concerns are:
I'd rather a quick sale as I've read of some horror stories of sales to dreamy-eyed buyers who prefer earnings' based or installment transitions where my talent is heavily relied on for a year+, only the protraction causes them (usually W2'ed finance folks without any accounting knowledge) to realize how much work it takes to be an entrepreneur and they null the deal. Do larger chains (ie HR Block) generally put larger upfront payments and thus foster a quicker/cleaner sale? I'm willing to take less in total sales price in order to close the sale quickly.
Is the non-compete clause still the general default of 3 years and does this vary by buyer size? How negotiable is this?
I assume a lawyer is needed on my end? The larger chains' offering materials seem to have a streamlined process that may negate this and help save some fees. Thank you.