About This Practice
This one-owner CPA practice is very established. A loyal individual and multi-industry customer base is growing very quickly with last year revenue at 23% growth and conservative projections for current year tracking even higher. Client engagements are primarily compilations, business and personal tax, and bookkeeping. Cashflow to owner is very good at 53% and owner hours are very reasonable at 1925/year. Billings are a combination of flat rate and hourly according to the service. Clients pay on time, and accounts receivable is kept to a minimum. Office processes are streamlined, and staff is very capable, well trained, and can work with little supervision. The firm is known for delivering a high level of value and on-time results for their clients
This practice has a well-balanced portfolio of clients including professionals and various service industries. Client demographics are broad in terms of industry, client age, business size, etc. Client relationships are strong. Clients look to the firm to provide sound tax advice. Tax planning style is conservative.
The office workflow is well defined, with proven procedures allowing efficiency and excellent customer service. Staff are conscientious, attentive to accuracy, organized, and hard working. Office hours are standard with flexibility in staff scheduling to accommodate life scenarios. Location is excellent, with a built-in geographic market providing many client growth opportunities.
The ideal buyer will be a CPA with several years of experience and strong general business knowledge. They must be experienced with owner-managed businesses and the requisite tax and bookkeeping work that is part of serving this clientele. Good interpersonal skills are a must, as well as the ability to adapt to client style. A calm, personable, and professional approach will provide clients with the familiarity of interaction they often note as something they value and appreciate. The ability to manage with trust and provide independence to the staff will maintain the environment they’ve excelled in. A community-minded buyer will be able to further expand on the growth opportunities readily available to this firm.
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