When it’s time to sell an accounting firm, most owners assume a larger firm will be the likely buyer. However, the reality is that the best fit is often an experienced individual. More specifically, it could be a local employee seeking ownership or a professional from a regional firm ready to establish their own foundation. These buyers usually bring the right mix of drive, experience, and adaptability.

Why not a large firm? Larger practices tend to lack the staff flexibility to absorb a new client base without growing pains. In many cases, the seller is retiring, and the buyer must be ready to step in and maintain client relationships immediately. Individual buyers are typically better equipped for this kind of hands-on transition.

Big firms often prioritize acquisitions differently. They may insist on strict client retention clauses and limit their financial exposure. In contrast, entrepreneurial buyers—those who have long envisioned owning a practice—are prepared to accept more risk. They’re also more invested in maintaining client fulfilment, which is critical during the transition phase.

If your firm generates under $2 million annually, your most qualified buyer is likely an individual. They’re more inclined to offer a fair price and commit the necessary time to ensure clients continue receiving high-quality service. Clients often prefer working directly with a firm owner, and when practices are absorbed into larger firms, that personal connection can be lost—prompting clients to leave.

Experienced professionals who are ready to leave employment and become their own boss are often your best bet. They understand the value of the clients and the opportunity to scale. Close behind are small practice owners aiming to grow more quickly by acquiring rather than marketing from scratch. On rare occasions, a large firm may show serious interest and meet the terms required—but this is the exception, not the rule.