About This Practice
This well-established CPA firm’s strong reputation has provided steady growth and excellent client retention. The owner works on their own with the part-time assistance of a long-term sub-contractor. Revenue and profit continue to grow; very good cashflow to owner at ~57%. Service focus is small business tax with engagements that include compilations, business and related personal tax, minor bookkeeping/payroll, CRA tax audit/review, minor small Tax Court Claims, some tax advisory, and some estate work. Through professional work and personable nature, the owner has built strong client and industry relationships. Office hours are standard, with the owner’s schedule remaining flexible to create a desired work/life balance. Several opportunities exist within the firm to add to it’s track record of growth and success.
A diverse and low risk client industry mix has provided stability and growth again through this year. Revenues are well balanced with no client making up more than 3% of total revenue. Clients appreciate the opportunity to interact directly with the owner, and value the level of service and client care. Clients have been receptive to virtual approaches.
A long-standing sub-contractor handles all the bookkeeping and administrative type work; the sub-contractor is very experienced and reliable in the operations of the business and the responsibilities of their role. The sub-contractor would like to continue working with the new owner if there were an option to do so.
The multi-storey accessible office building is very well located in within a busy business area in downtown Toronto. It is directly and easily accessed by all modes of transportation. Lots of onsite parking is available. The office suite is open concept and is large enough for up to 3 people.
This is an excellent and attainable opportunity for a buyer looking to start with, or add to, a great client base.
The ideal buyer will be a CPA with several years of experience and strong general business knowledge. This is a great opportunity for a buyer who is looking to start their own firm and wants to fast-track to an excellent client book, or an existing firm looking to add into their client base. The buyer will be familiar with owner-managed businesses and the requisite tax and related work that is part of serving this clientele. Strong customer service skills and the ability to work with diverse clients is a must. A personable and professional approach will provide the client base with the familiarity of interaction they often note as something they value and appreciate. A future-focused buyer will be able to integrate technology to build on the demonstrated growth trend, increase profit even further, and maintain favorable owner hours.
Request Full Profile