Remote Accounting Firm Sold for $550K After 2 Competing LOIs
Rachel Horner
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2 min read
About the Business
Industry: Professional Services – Accounting and Tax
Location: Remote
Size: $250K–$500K in annual revenue, $150K–$200K in cash flow
Sale price: $550,000 (asking price: $600,000)
Listing to signed LOI: 63 days
Signed LOI to close: 84 days
The Challenge: Stepping Back Without Leaving Clients Behind
After 15 years, the owner was ready to stop running a firm but not to stop working. She wanted a buyer with the energy to grow the practice and a way to keep serving her clients part-time.
63 Days to a Signed LOI: Two Buyers, One Fit
What happened at every stage
Valuation: The firm went live at $510,000 on 2024 numbers. When the owner said 2025 looked stronger, the Baton advisor re-ran the valuation on the full year and the asking price moved to $600,000.
Buyer Outreach: 76 buyers viewed the listing and 27 opened the data room. The owner met the two finalists, with the Baton advisor on every call.
Offer Selection and Negotiation Support: Four buyers sent early offers, then a two-person team and an existing firm owner both submitted LOIs within a week. Competition moved the winning offer from $450,000 to $550,000, and the owner chose it for the paid consulting role it came with.
Diligence and Closing Support: The Baton advisor ran a weekly closing call with a shared milestone tracker through tax season. The deal closed on April 30, the outside date set in the LOI.
The Results
The buyer owns an accounting firm in a neighboring state and added the practice to bring tax services and a base of monthly-retainer clients into his firm. Through Baton's process, the business:
Sold for $550,000, $100,000 above the owner's own estimate of its value
Received 2 LOIs and 4 early offers
Closed with an SBA loan and a seller note
What's next for the owner?
The owner works part-time for the buyer as a paid contractor, serving her longtime clients through the transition. After that, she plans to travel.
Advice and Lessons for Future Sellers
Price on your latest full year. Updating the valuation with stronger 2025 numbers raised the asking price before the final offers came in.
Look past the headline cash. The owner chose a higher price with a consulting role over a bid with more cash at closing.
Set the closing date in the LOI. A firm outside date kept financing and documents on schedule through tax season.