About This Practice
This is a highly profitable, well-established full cloud, full remote, Canadian bookkeeping and accounting practice. The practice provides in-demand services including full-cycle bookkeeping, payroll, corporate tax, and very minor personal tax to clients across Canada. The practice utilizes a cohesive tech stack to provide efficiency in operation combined with high value to clients. Profit is exceptional at ~68% (2022). The owner has managed and capped growth at current levels as their preferred practice size, however a growth-minded Buyer has many growth opportunities available to scale the practice.
Staff are very capable, reliable, and dedicated. The staffing model blends local management with a remote back end to achieve excellent productivity, efficiency, and results. The client portfolio is very desirable having been built and culled over time. The client base is industry-diverse, and clients are loyal. Clients are pleased with the value they receive from the practice and often provide referrals. The practice has developed a strong online presence with SEO that continues to generate new business leads.
Owner hours are very reasonable at ~1,925/year allowing the Buyer the ability to maintain a great work/life balance, or focus additional time on growth and business development. The practice does not necessarily require a designated owner for its current services although a CPA would have opportunity to bring in additional and complimentary services to those already offered. The Seller has identified key areas of growth opportunity for the practice based on in-demand services and overall market. This is an established, highly profitable, turn-key full cloud practice – a rare opportunity for many Buyer scenarios including a Buyer looking to move into ownership of a future-focused practice, or an existing cloud owner looking to onboard excellent clients and staff, or a more traditional practice owner looking to move into the cloud space and future.
An amazing opportunity not to be missed!
The ideal Buyer will be well-experienced in all the services offered by the practice, and will have strong general business knowledge and experience. While no designation is needed to run the practice as-is, additional opportunity is available to a designated CPA who can layer in additional CPA-related services. With the services the practice currently provides, a CPB designations could be beneficial to the Buyer.
For the payroll services component of the practice, the Seller recommends that the Buyer (or an employee of the Buyer) have a very strong grasp of payroll; a PCP designation or equivalent in experience will be necessary as payroll is a component of many clients’ service packages. The Buyer will also need to be very familiar and experienced with cloud operations overall, and specifically the tech stack that the practice utilizes. Experience in building and managing a remote team will be important, as will the ability to build relationships in a virtual model.
This is a highly profitable, turn-key, well-established full cloud, full remote practice with excellent growth opportunity. The ideal Buyer will recognize the value of this practice in all aspects including operations, profitability, staff, clients, and growth potential.
This is an excellent opportunity for many Buyer scenarios including:
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- a Buyer looking to move into ownership of a future-focused full cloud practice;
- an existing cloud practice owner looking to add high quality cloud clients and excellent remote staff;
- an existing traditionally operated practice looking to move into the future.