About This Practice
This firm is a fast-growing, largely virtual bookkeeping practice in Durham Region. This forward-thinking practice is made up of bookkeeping clients as well as some corporate year ends and personal tax clients. The practice is largely virtual with the exception of some tax clients who wish to meet face-to-face annually.
The practice has experienced rapid growth of about 50% each year since inception. Very good cash flow to owner at 55%. This highly efficient, service-focused, firm uses technology to bring clients optimal accounting workflows and service. Services are delivered by a team of tech-savvy professionals through tailored business solution packages. Some compilations but no review or audit. Bookkeeping billing is fixed-priced monthly packages setup for pre-authorized, automatic payments to ensure steady cash flow with no accounts receivable. Tax work is billed at the time of service.
Business clients include a broad range of industries including real estate, construction, health care, consultants, architects, non-profit, dental hygiene, and restaurants. The owner is discerning with client selection. All clients are through referral.
The office culture is professional but casual and friendly. Management style is relaxed but clear procedures and systems are in place that ensure efficient workflow and quality control. Qualified staff are in charge of their own portfolio of clients. Bi-weekly meetings encourage sharing of ideas and ensure that although all staff work remotely, they still feel part of the same team. Staff work regular business hours, but schedules can be flexible for life circumstances.
The ideal buyer should have several years of accounting and tax experience, be technically capable, and able to manage an office and staff. Experience in running an online practice would be an asset. As the practice is centred around QuickBooks Online, the buyer or a member of their team will need to be a Certified ProAdvisor at the Advanced Level and have a significant level of comfort with building and maintaining app workflows. The ideal buyer will be personable with a good sense of humour with the ability to communicate effectively with both staff and clients. The seller is looking for someone who sees the value in encouraging growth and development in their staff.
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