This is a high-growth and highly profitable full cloud practice with strong future growth and opportunities ahead. The practice is turn-key and ready for a Buyer to scale. The practice is currently headquartered in Quebec with approximately 50% of the client base also in Quebec. While the ability to speak French is not a requirement, the Buyer will need to have familiarity with the unique tax rules of the province of Quebec. Quebec is a highly lucrative market for cloud accounting. The balance of the clients are primarily in Ontario.
Service Mix: The practice offers the most in-demand services including bookkeeping, NTR’s, corporate tax, minor personal tax (primarily associated with the corporate clients), and very minor CFO type consulting.
Revenue: $612,542 (2024), $720,874 (2025 projection)
Growth: The practice has demonstrated strong growth with current year projection of +18%.
Profit: Profit is very strong at ~66% (2024) and a 3-year average profitability of ~54%.
Billing: Billings are primarily subscription with automated payment collection resulting in very consistent and predictable cashflow.
Reputation: The practice has quickly earned a strong reputation for providing great value. Clients provide regular referrals based on the quality work and personable service they receive.
Staff: Staff are very capable in their roles and embrace the responsibilities of their work. Staff work independently and require little supervision. All staff are under current employee contracts and under current non-compete/non-solicits.
Clients: The client portfolio is industry-diverse and stable. Clients appreciate the value they receive from the practice. Onboarded clients stay with the practice – attrition is negligible.
Operations: As a full cloud practice, operations are very systematic. Platforms and applications provide efficient workflow structure. Staff roles are well-defined. The owner focuses on the higher-level work of the practice along with ongoing business development and growth.
Opportunities:
- Increase Capacity: The Buyer will want to have existing staff capacity or be able to bring in one additional staff or partner to best handle the recent growth and also the anticipated ongoing growth ahead.
- Additional Services: While the practice currently offers high-demand services, a Buyer could layer in additional related services that the current and future client base may need. The owner notes that some clients and new inquiries have asked about cross-border tax.
- Expansion of Existing Services: The current service lines are the most high demand, with most small businesses requiring these accounting services. Further business development targeting small businesses with these needs is highly likely to maintain or exceed the current growth rate.
- Marketing: As a cloud practice, an online presence is key. The owner has implemented some high ROI marketing initiatives that the Buyer could continue with, and additional marketing options are available for a growth-focused Buyer who would want to scale the practice at an even faster pace.
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