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Consulting Sparks Acquisition Interest
- Patrick Dichter worked in consulting advising small businesses for over three years before deciding to buy a bookkeeping business.
- Witnessing many clients struggled with messy or outdated books inspired his acquisition interest in bookkeeping.
Bookkeeping's Sticky Client Base
- Bookkeeping firms are stickier clients than marketing agencies because owners rarely switch accountants if satisfied.
- There is room for efficiency and growth, similar to SaaS, with recurring revenue and client lifetime value in accounting.
Brokers Reject Non-CPA Buyers
- Most accounting firm brokers refused to work with Patrick because he isn't a CPA.
- Only one brokerage showed some interest but brokers generally won't present non-CPA buyers to their clients.