About This Practice
This is a full-service accounting firm providing bookkeeping, tax, and accounting services to clients in the GTA. With an established presence and committed relationship to its clients, this firm has a loyal clientele.
The firm has experienced steady growth with good cash flow to owner and low owner hours. New clients come in through referral both from existing clients and community contacts. Client industries include various service industries, manufacturers, and retail.
The practice is focused on quality work, delegation, and efficiency. The office culture is professional but relaxed, with an atmosphere of easy communication and sharing ideas. Employees work regular business hours, with the possibility of longer days during tax season as the need arises. The owner is confident in the staff’s ability to handle incoming files, providing oversight where needed with newer employees. The owner and staff take a proactive approach to upcoming due dates and client deadlines, ensuring that client work is completed in a timely manner and the workflow is balanced.
Ideal buyer
The ideal buyer will be a CPA who is competent in accounting and tax work. Having a knowledge of QuickBooks and QBO is important. The buyer should have experience owning a business and managing a team. A natural delegator is key with a willingness to rely on the expertise of the staff. The buyer should recognize the importance of service to the client and being involved in local networking opportunities. The firm has a community presence. Continuing this focus will take the firm to the next level. Many opportunities for growth exist for the business development-minded owner. An LPA would be ideal to bring the assurance work in house. A tax specialist would also increase the client service offerings.
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