About This Practice
This is a quality CPA firm located in the Leslie and Sheppard area of Toronto. Client engagements include compilations, bookkeeping, business and personal tax with some reviews. 75-80% of billings are business related.
The practice boasts an exceptional client base of owner-operated small businesses. Industries include professionals, manufacturers, retailers, wholesalers, construction related, food service, a number of service industries and investment/holding companies. Business clients continue to refer colleagues in their respective industries.
Revenue is stable with good cash flow to owner. The firm has an excellent billing and payment track record with clients paying on time. Client feedback is excellent giving the firm a reputation for great service and forging long-term client relationships.
The firm has long-term and skilled staff who work with very little supervision. They are highly competent, have a great work ethic, and the clients are used to dealing directly with them. The owner has an “open door” style of management to work through staff questions and to provide overall leadership. The office runs very smoothly, with good processes in place. Client work follows a predictable pattern and is spread throughout the year. Most files are initiated and processed by the staff before being reviewed and finalized by the owner. Periodic meetings are held to prioritize workflow as necessary. The upscale professional office is conveniently located.
The ideal buyer will have several years of public accounting and tax experience with a high level of technical expertise. 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. An entrepreneurial buyer with a strong work ethic and motivation to grow the firm should be able to do so through existing referrals from this exceptional client base. This practice is primed for the next stage of growth.
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