About This Practice
This is a high-quality, traditional CPA firm in a wonderful community. They are focused on helping individuals and small businesses succeed. 70% of the revenue is tax planning and tax preparation. 30% is bookkeeping, payroll and small business services. This firm has very good IRS tax resolution expertise. Cash flow to owner is very high, over 50%.
This is a casual office environment and the staff enjoys working together. Staff is focused and hard working. They are cross trained in all areas of the business and enjoy learning new things. Seller acts as a mentor and teacher to the staff. They produce quality work and are well liked by clients. This is a happy place to work in a modern and beautiful office space. All staff members keep track of their time for each client. Client is billed at the time of service and the A/R is very, very low. There is good software in place.
This firm has incredibly loyal clients. The small business clients are sophisticated and understand how their accounting works. Customer leads are brought in through quality referrals. The firm has a beautiful and professional website. The existing client base could benefit from additional services such as advisory, forecasting, budgeting, business planning and outsourced CFO services. There is an opportunity to make this a paperless office.
The ideal buyer needs to be CPA with very good public accounting experience. Buyer will need knowledge of tax, tax planning and S corporations. A mentor and teacher would be helpful for this staff. Buyer should be personable, proactive and enjoy working with all kinds of clients. An entrepreneurial buyer could really grow this client base.
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