I have a small tax practice that I started about two years ago and have grown to roughly 100 clients. To make ends meet I take contract work on the side and operate this out of my home.
I recently had a business acquaintance that runs a financial planning service business offer to lease me an office space on his floor for roughly $1,000 a month with the understanding that we will exclusively recommend our clients to one another. He currently has approximately 500 clients. As well, the only other accounting office in town is closing and he'll be getting the client list of roughly 400 people. So I'll be essentially the only tax/accounting practice in the town and probably be getting hundreds of new clients to boot.
I am closer to the beginning of my career and this seems like an amazing opportunity with the only risk if things go belly up is the $1,000 in monthly lease payments on the one-year lease.
Should I or should I not say yes and are there pitfalls to look out for?