Build Your Firm logo
CPA Marketing Growth - Mergers Create Opportunities

CPA Marketing Growth - Mergers Create Opportunities

|

by Hugh Duffy

|
CPA Marketing Growth - Mergers Create Opportunities

In an era of private equity rollups and consolidation, there is a window opening up for the small guy.  So yes, David can beat Goliath with a solid marketing plan, branding and commitment to staffing excellence.  

By now, we've all experienced what it's like for our medical providers to get gobbled up by larger practices and private equity firms. Within the past two years, I've lost my primary care physician, ophthalmologist, and dermatologist to practice acquisitions and rollups. Years ago, we saw this with independent drug stores who got acquired by CVS and Walgreens. These windows force us to reconsider who we work with going forward because the small independent is quietly selling out to dramatically larger providers.

Well, this same phenomena is going on within the accounting industry as the young blood coming into the market is dwindling (fewer CPA's coming out of college) and multiples off EBITDA are higher for rollups. While this window of consolidation is happening, many small businesses who have been working with accountants are being displaced and thrown into the ocean. Rather than swim in an ocean, many will seek to jump back into a large pond or small lake and look online for local providers. During this search, they will look at your website to size you up and determine if a fit exists and contact 2-4 firms. Below is how things will go:

- Online search for local accountants

- First impression is key - right size firm, office close by, do they work my type of business

- Who owns this firm - do owners have proper qualifications, sense of humor,

- Can they improve my business and give me a competitive advantage?

- Can they reduce my tax burden?

- How are they rated? Google and Yelp?

Over the past few years while large CPA Firms are gobbling up local players who are nearing retirement, many quality business owners are being forced to shop for a new accountant, or accept higher pricing with the new acquiring firm. This means your website presentation and online reputation are more important than they used to be.

Baltimore CPA Accountant
Small Business Focused

In the case below, Graber & Associates CPAs has capitalized beyond their wildest dreams. About six years ago, they were $700k, had no attractive niches, and owner wanted to ramp up so he could bring his son into the business. His niche was gas stations and auto repair shops, which he hated. He tried an acquisition but it was a temporary solution that become a car wreck. Then he enrolled in Build Your Firm's Outsourced Marketing Program and it worked well. After six years, here is where things stand.

- website presentation has consistently improved

- firm reputation is stellar, 5.0 rating in Google (awards with Clutch and Expertise)

- Baltimore office (their base) is supported by 64 Google Reviews

- Towson office was added to expand marketing area (38 Google Reviews)

- expanded south to Columbia MD (51 Google Reviews)

- niches in Technology, Transportation, Staffing attracted quality service businesses into practice (made orphan 1040s less attractive)

- staffing has gradually improved as quality of clientele improved

- new office in Washington DC in 2024 expanded geographic footprint dramatically

- Washington DC office now has 53 Google Reviews

- annual fee increases have been aggressive but supported by Google Reviews

Below are Graber & Assoc CPA websites and key reasons why they grew from $700k to $3.4M.  

CPA Firm - Washington DC - Maryland

Technology CPA Accounting - Maryland - Washington DC - Baltimore

Staffing CPA Accounting - Maryland - Washington DC

Content Creator CPA Accounting - Maryland - Washington DC

Transportation CPA Accounting - Maryland - Washington DC

Hugh Duffy