About This Practice
Sellers are motivated to sell before tax season and willing to stay on longer for a successful transition . Respected and well-established 2 Partner CPA practice that provides 50% Personal and Business Tax, Bookkeeping, and Financial Statement preparation. This firm boasts 95% + retention rate and extremely high referral rate. It is well known within the community for its quality work and friendly staff as they have been in business for many decades. 75% of clients have been with the firm over 10+ years. The current clients love that the staff is dependable and willing to go above and beyond to help. They need little supervision.
This firm has a great location with great curb-appeal. Firm mix includes 49% high quality individual and business tax, 14% bookkeeping, also some payroll, estate and management advisory services. All audit work will be completed prior to sale. Owner salaries are approximately $190,000 per partner and cashflow to owner is consistently 50%.
This firm has:
- Owners willing to stay on longer for successful transition
- Steady cash flow to owner is over 50%
- Steady revenue growth at 8% each year
- Loyal client base that regularly refers others to the practice. Many multi-generational clients as well.
- Consistent revenue throughout the entire year.
- Business returns over $1300 and individual $550
Currently most of the business and growth comes from referrals. A new buyer could easily capture more business and referrals in this fast-growing area.
The ideal buyer should have a focus on building trusted relationships with clients to continue to grow this firm. They should demonstrate exceptional integrity in the quality of their work and communications with clients and staff. With staff who work well independently, the ideal buyer could implement cloud technology to work remotely. CPA and strong public accounting experience are required. This is an ideal firm for buyers looking for high quality clients, long term, supportive staff, and first-rate location with room for expansion.
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