About This Practice
This is an established CPA firm with a strong and diverse business client base. Client engagements include compilations, a small number of reviews, three not-for-profit audits, corporate tax returns, tax advisory, personal tax and other consulting services. Office processes are streamlined, and support staff is capable and dependable. The firm has a commitment to helping clients reach their financial goals.
Revenue is solid and cash flow to owner is very good. Services are priced using a time-billing model. The clients pay on time and accounts receivable is kept to a minimum.
This practice boasts a solid list of clients in diverse industries including professionals (doctors and dentists), rental properties, real estate, manufacturing, service, construction, automotive, retail, holding companies and various owner-managed businesses. The practice serves a number of high net worth clients and families. Client relationships are strong, and the firm pays particular attention to providing unsurpassed client service. Clients have remarked how prompt the firm’s responses are compared to other firms. They look to the firm not only to provide accounting and tax service, but as their trusted partner alongside their businesses. A hands-on and client-focused buyer will do very well with this client base. Clients look to the firm to provide sound business and tax advice. Tax planning style is conservative. Most clients come to the office.
The stage is set for significant growth of services for the right buyer, including tax specialty work and consulting for growing businesses that require this expertise. The seller is excited to prepare the buyer to take advantage of these opportunities.
The office is an efficient workplace. There is a good division of tasks, and solid procedures allow work to flow smoothly. The staff is conscientious, attentive to accuracy, organized, and hard-working. The firm has a reputation for quality service with a professional atmosphere. The office has standard business hours, but employee schedules are flexible for life circumstances.
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The ideal buyer will be a Licensed Public Accountant or firm with several years of public accounting experience and strong general business knowledge. They must be experienced with owner-managed businesses and enjoy serving this clientele. Good interpersonal skills are a must as well as the ability to adapt to client style and level of sophistication. The buyer will be able to manage staff and an efficient workflow. The buyer would be expected to maintain the firm’s exceptional reputation and grow the firm to meet the service needs of the client base. Buyer must have capacity or hire staff to take advantage of the increasing referral opportunities. There are numerous opportunities for the right buyer to capitalize on the growing client list and services.