CPA Firm for Sale in London, ON

About This Practice

This is an exceptional quality CPA firm providing general accounting and tax services including review engagements, compilation, corporate tax, and bookkeeping services. The practice is a licensed public accounting firm which includes general tax consulting for business clients and some individual clients.

The clients are owner-managed companies, professional corporations and registered charities. Industries include service, industrial, retail, wholesale, property management, construction, investment holding, professionals including veterinarians, medical and dental practitioners, and not-for-profit organizations.

Revenue is on a growing trend and the practice is very profitable at more than 65% cash flow to owner. Owner hours are low at 1,700. The firm has an excellent billing track record with clients paying on time and very little bad debt over the years. Work is brought in primarily through referral though the firm is at capacity for new work.

The management style is focused on high standards of work for clients and a continual learning atmosphere for staff. Staff typically initiate a file workflow and verify key points until final review by the owner. The staff are conscientious, organized and hard-working. The staff are used to working directly with clients responding to their questions and needs. The firm has a relational approach to clients, taking the time to understand them and their businesses. This is a key to the success of the practice and to bringing in additional business. The office environment is friendly and semi-casual.

There is a tremendous opportunity to mine the existing client base for additional in-demand services including trusts and investment holding companies.

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, be familiar with the needs of owner-managed businesses, and enjoy working with the small business community. A broad business background will be a benefit as many clients see the firm owner as their “VP of finance”. This is a hands-on practice for the accountant who enjoys their work and being part of the community.