CPA Firm for Sale in North York

Designation:	CPA Firm
Location:	Ontario
Status:	SOLD
Listing ID:	ON2042
Asking:	$195,000
Annual Gross:	$161,825
Reason for Selling:	Retirement
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About This Practice

This is a well-established and profitable CPA firm located in North York. Client engagements include compilations and corporate tax as well as personal tax and a small amount of bookkeeping. Clients are predominately small businesses in a variety of industries including professionals, service companies, consultants, and investment companies. Client retention is high and referral business continues to come in.

Revenue/cash flow is excellent. Clients are accustomed to regular fee increases, remaining loyal due to the quality of service and personal attention they receive. Accounts receivable is minimal and there are no bad debts. The owner maintains a good work-life balance, putting in approximately 1,600 hours per year.

The practice is a one-person operation with some help required only at high season. Its systems have a good workflow in place. Office space is rented in a ground level industrial unit situated in busy commercial business area.

Ideal Buyer

This is a superb opportunity for a well-experienced and technically competent CPA who is demonstrably ethical and at ease with clients one-on-one. This successful practice would be a solid acquisition for an existing firm wishing to expand or an entrepreneur with drive and marketing acumen who can capitalize on its multiple opportunities for growth.

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About the Area

North York is the northernmost district of the City of Toronto. Often referred to as Toronto’s other downtown, North York City Centre is the second-largest central business district in the metropolitan area. Several corporate head offices are located here, including those of McDonald’s and Home Depot. The skyline is characterized by a large component of office towers and residential buildings, particularly along iconic Yonge Street. This intersects locally with Highway 401, the backbone of the Québec City-Windsor corridor, along which over half of Canada’s population lives. These arteries, combined with excellent public transit, ensure tremendous mobility.

North York has a culturally-diverse population of nearly 700,000 people. This vibrant multiculturalism is reflected in the district’s several ethnic celebrations such as the Hispanic Fiesta, Iranian Fire Festival, and Korean Harvest Festival. These events take place in Mel Lastman Square, which also hosts the summer-long Farmers Market and skating in winter. Nearby is the Toronto Centre for the Arts presenting major entertainment attractions. North York also boasts an Olympic-size swimming pool, tennis courts, golf courses, ball diamonds, many parks and urban hiking trails, as well as the Ontario Science Centre. With its proximity to downtown, residents can also easily access all the benefits of living in Canada’s largest city including a powerful economy, the country’s top university, six professional sports teams, and the widest-imaginable offering of cuisine, arts and leisure activities.

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