About This Practice
This is a fully remote cloud-based CPA firm. While currently operating out of the Toronto area, the virtual structure allows operation from anywhere in Canada. An excellent reputation has helped build a strong client base in the real estate financing/lending industry along with a growing mix of clients in the professional and technology sectors. This firm is growing very quickly. Annual gross is based on YTD to the end of August 2020. The seller is projecting that revenue for 2020 will be in excess of $350,000 based on signed engagements in the pipeline and ongoing work.
Services provided include a well-rounded mix of bookkeeping, compilations, audits, reviews, business tax, personal tax, and tax advisory. Services are provided remotely utilizing cloud-based industry platforms and established internal processes. Team members work remotely with this virtual structure facilitating opportunity to hire nationally. Client market geography is also national, providing the ability to grow the client base across Canada. A professional and flexible management style has contributed to the building of strong client relationships and referrals.
Although a young company, the growth trend is excellent, with client and industry referrals being very strong. Low overhead and strong billing rates provide good cashflow to owner.
The buyer will be a Licensed Public Accountant. The ideal buyer will be technology savvy, and able to manage work, staff, and clients in a remote environment. The new owner could further pursue the niche market, and/or develop the client mix in other industries. As a growing firm, the new owner would work in the business to build and maintain new and existing client relationships. Strong experience in the current service areas is needed, with experience in real estate investment/lending an asset if the owner wishes to pursue the developed niche.
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