About This Practice
This is a very established one-owner CPA practice with a longstanding customer base centered around a good mix of professional industries and individuals. Client engagements are primarily corporate tax, small business tax, and individual tax, along with some estates, trusts, and fiduciary services. Currently no other services are included in the service mix. Revenue is very stable year over year as a result of loyal clientele who are used to high level customer service, and also as a result of the owner’s decision to simply maintain rather than grow as they approached retirement. Profit is exceptional at 62%, and yearly owner hours are very reasonable and flexibly scheduled.
Clients are loyal and rely on the practice for solid tax work. Most clients no longer come to the office, but use electronic methods to interact, allowing the ability for the practice to maintain its location, relocate, or join an existing practice. Client base is made up of a mix of professional services (medical, legal), distribution/sales, small business mix, and individual tax, estates, and trusts.
The practice reputation is excellent, retaining many long-term clients and relationships. Currently the practice operates with the CPA owner, along with one longstanding Administrative Assistant scheduled according to seasonality. More traditionally operated, there are many growth opportunities within this practice.
There are multiple ideal buyer scenarios for this practice. In one case, a single owner with a strong tax background could take over the location as-is and develop the identified and other growth opportunities. In another case, an existing multi-partner firm looking to add to their tax component would be very interested to bring this solid tax base in house and realize an even greater cash flow to owner. A strong background and experience in tax is essential for the new owner, along with the ability to develop and maintain relationships with business owners and individuals expecting high quality service and results.
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