90 Days Post Close - Highs and Lows

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April 03, 2022

by a searcher from University of Denver - Daniels College of Business in Boston, MA, USA

I closed on a $1.2M revenue bookkeeping and tax firm December 31, 2021. Just wanted to share with the Searchfund community that was part of my education.
✅ Retained all +70 clients ✅ Revenue up 10% YoY ✅ Culture seems healthy in transition

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Reply by a searcher
from University of Pennsylvania in Atlanta, GA, USA
Congratulations Patrick! It sounds like you closed at the end of 2021 and so had maybe a month before the busy season kicked off. But if you'd waited until after, your deal could've been pushed back because the owners have to focus then get burnt out. If you need people fast, try outsourcing to the Philippines or India in the near-term. I know several accounting firm owners who have done that with good results.
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Reply by a searcher
from University of Denver in Boston, MA, USA
The end of my post got cut off. Lows - understaffed by 2-3 people, closing before busy season, and information overload. More detailed blog post here: https://patrickdichter.com/reflections-90-days-post-close/
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