This is a great opportunity to acquire a high-growth full cloud practice that generates excellent profit and has strong ongoing growth opportunities waiting. The practice is currently headquartered in Ontario but is able to be operated from anywhere.
Revenue: $351,164 (2024 completed)
Profit: Very strong and very consistent year-over-year profit at ~75% (2024 and 2023)
Service Mix: Bookkeeping, Corporate Tax, Small Business Tax, Personal Tax, Controller/CFO Services (1 client).
Growth: The practice has demonstrated strong year-over-year growth and is ready for immediate scaling.
Reputation: Regular referrals and new client inquiries are common as a result of the earned reputation of providing quality work, good value, and personable service.
Billing: Billings are primarily subscription which provides consistent and reliable cashflow.
Operations: Operations are straight forward and efficient. The current practice size and the simplicity of a single owner/operator structure keeps everything in check and on track. The owner does the work of the practice with minor administration handled by an on-demand subcontractor.
Owner Hours: The owner maintains low owner hours at ~1,640 hours/year. A Buyer has ample available time to put toward additional client work and/or further business development, or has the ability to maintain this desirable work/life balance.
Staff: The owner subcontracts one very part-time assistant for administrative work when needed. A Buyer looking to leverage the scalability of the practice will either have existing staff capacity, or have a partner, or will be ready to hire to suit.
Clients: The owner has selected and maintained strong value clients – those that are efficiently handled and appreciate and pay for the value the practice provides. The client portfolio is industry diverse and stable. Many clients have long tenure with the practice demonstrating their appreciation of the value they receive.
Opportunities:
- Additional Services: While the practice already provides the services in most demand, a Buyer looking to expand the service line has excellent ability to layer in additional related services. The Seller notes existing client interest and new client inquires in the area of compilations.
- Expansion of Existing Services: The practice has achieved its strong record of growth through the services it currently offers – these service are needed by most small businesses creating an infinitely large client market, particularly when combined with the ability to service clients anywhere across Canada.
- Marketing: The practice has seen exceptional growth through referrals and word of mouth. A growth-focused Buyer could readily add in some active marketing tools to bring the growth pace even higher.
- Scale: A Buyer can leverage the reputation, approach, and untapped growth opportunities to immediately scale the practice. As a full cloud practice, hiring geography is infinite allowing a Buyer to hire great talent from anywhere and take on clients from anywhere.
This is a very achievable turn-key full cloud practice that has clear opportunities to do very well into the future.
If you’re contemplating a move into practice ownership, or if you’re looking to take on a book of high quality cloud clients, this could very well be the opportunity you’ve been waiting for – do not delay in following up!
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