New Podcast: Buying an Accounting Firm Without Being a CPA? She Did It.

Hello SMB Deal Hunters!

I’m excited to share a new interview with Gretchen Roberts, an entrepreneur who acquired Red Bike Advisors, a remote-first accounting, tax, and advisory firm based in Wilmington, NC.

What makes Gretchen’s story unique? She’s not a CPA and doesn’t come from an accounting background. 

Before buying the firm, she worked in marketing at a major public tech company. Now, she owns and operates a professional services business — without ever having prepared a tax return.

Today's issue is sponsored by SMB Diligence, the platform I helped start for matching business buyers with vetted legal counsel and Quality of Earnings providers.

WORK WITH ME

Want me and my team to work with you to find, finance, and acquire a million-dollar cash-flowing business in the next 6-12 months? Apply to join SMB Deal Hunter Pro.

Here's what one member shared this past week:

👉 Learn more and book a call

INTERVIEW

In the interview with Gretchen, we discuss:

• How Gretchen went into the process thinking she was going to buy a marketing agency

• The two buckets of brokers for accounting firms

• How multiples work for accounting firms

• How Gretchen convinced a lender to get onboard

• Legalities around owning an accounting firm without being a CPA

• Why being able to do the work is not the key to running a successful business

• What the first six months after taking over looked like (and what was unexpected about the transition)

• The biggest changes Gretchen is making in the business

• What client churn looks like in the accounting industry after an acquisition

• Challenges in hiring

• And more!

👉 Watch the full 49-minute interview with Gretchen

PRESENTED BY SMB DILIGENCE

Here’s Why You Shouldn’t Skip Due Diligence…

A friend of mine put a business under LOI and asked me for my advice.

I recommended he contract a 3rd party due diligence partner to rebuild the company's P&L from scratch.

Turns out their EBITDA was off by 2x 😳

Enter SMB Diligence.

SMB Diligence is the platform I helped start for matching business buyers with vetted diligence providers, from M&A lawyers to Quality of Earnings providers.

Their network of experts has worked on hundreds of small business transactions (including many from the SMB Deal Hunter community).

👉 Get introduced to due diligence experts today

COMMUNITY PERKS

• Want to invest passively in SMB acquisitions? Get access to investment opportunities.

• Get a personal introduction to my preferred SBA 7(a) lender, non-SBA lenders, Quality of Earnings providers, or legal counsel

• Raising capital for your deal? I’ll connect you with investors from the SMB Deal Hunter Community.

• Interested in selling your business? I’ll help you connect with buyers from the SMB Deal Hunter Community.

THAT’S A WRAP

Want me to interview you for my podcast? Hit reply.

See you tomorrow with some new deals!

-Helen Guo
Find Me On Twitter
Find Me On LinkedIn

P.S. I'd love your feedback. Tap the poll below or reply to this email.

Disclaimer

This publication is a newsletter only and the information provided herein is the opinion of our editors and writers only. Any transaction or opportunity of any kind is provided for information only; SMB Deal Hunter does not verify nor confirm information. SMB Deal Hunter is not making any offer to readers to participate in any transaction or opportunity described herein.