About This Practice
This is an established and very profitable CPA firm with a community focus. Client engagements include compilations, bookkeeping with some payroll, as well as business and individual tax. There are three review engagements. The revenue trend is growing, and the firm has excellent cash flow to owner of 63%. The firm has an excellent billing track record with no bad debts in ten years. Owner hours are about 2000 per year.
Business clients are owner-operated small businesses. Industries include service, sales, NPO’s, professionals, farming, trades, and construction. Owner is discerning with accepting clients. No client exceeds 5% of revenue. The firm has an excellent client and community reputation. Office processes are streamlined and staff is well-trained and can work with little supervision. The office is a “well-oiled machine” and very organized.
Ideal Buyer
The ideal buyer will have several years of public accounting and tax experience. They must be technically capable and able to manage an office and staff. The buyer must have experience dealing with clients directly and be familiar with the needs of owner-managed businesses. The firm is rural with a strong community focus. A buyer who prefers a small-town mentality will do very well here. This is a hands-on practice for the accountant who enjoys their work and being part of the community. If you have a history of forming trusted relationships with clients and have a good understanding of owner-managed business accounting and tax needs, you will thrive in this firm.
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