About This Practice
This is a full-service CPA firm with steady growth, effective marketing and a unique office-client culture. An exceptional staff manages the normal day-to-day operations of the practice, freeing the owner to pursue business development.
The firm specializes in a particular industry (confidential) and employs a unique marketing strategy to bring in new clients. This is the go-to firm for clients in this industry. Revenue has been growing steadily with about 50-80 new clients per year.
Compliance work is the main focus for both personal and corporate tax clients. The firm’s services are bookkeeping, corporate tax and business tax for self-employed individuals. There is very little personal tax not connected with a business and there is no assurance work. Services are typically a fixed-fee package depending on the work involved and the particular service. Prices are based on individual consultations with the client. The clients want to be with the firm, so price is secondary.
The firm employs a dedicated group of individuals who are loyal, hardworking and capable. Over the years, the owner has shared and instilled a sense of pride of ownership among the staff. By delegating the day to day operations, the practice for the most part operates with minimal supervision. Only the more critical matters require the owner’s attention as the staff are experts in their area of responsibility. The owner enjoys significant time off.
This is a practice for an accountant that desires a more personal and rewarding vocation and workplace culture. The owner is proud to be working with an incredible group of people – both staff and clients.
The ideal buyer will have incredible communication and high-level interpersonal skills. They will listen to their clients well and interpret their comments. This is especially true when clients may not clearly articulate the financial particulars and circumstances of their business.
They will be a CPA who is technically competent in accounting and tax – especially for self-employed individuals. US tax experience would be helpful as would a tax specialist. However, the staff is strong in tax.
The practice serves a particular industry (confidential). Experience in this industry would help the buyer but it isn’t necessary due to the exceptional staff. This can be discussed with the owner.
The buyer should have strong organizational skills and needs to know how to run a business and manage an experienced staff. Not a micromanager! An outgoing and open-minded personality will fit in very well here as will an owner who is not afraid to show their face and be involved in the community. A confident accountant that loves life and fascinating people will be successful in this practice.
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