About This Practice
This CPA firm provides 45% individual and 34% business returns, complemented by select payroll and bookkeeping services. The firm boasts a fully staffed, dedicated, and highly skilled team, all of whom have demonstrated remarkable longevity, with tenures spanning from 10 to 20 years. Its distinguished reputation is built on a steadfast commitment to nurturing enduring client relationships. The firm distinguishes itself through the exceptional proficiency of its staff, who consistently deliver superlative work and service. They serve a broad range of industries and the majority have engagement letters.
With a long-established reputation in the community, all new clients come from referrals and word of mouth. Notably, the firm implemented a 20 % price increase in 2022, with minimal client resistance. Furthermore, the firm has reported a substantial year-to-date revenue increase of $65,000 (15%), reflecting its thriving and progressive trajectory. There is consistent revenue growth of 10% or more a year. Revenue in 2022 was $597,520 and 2023 is conservatively projected at $650,000.
This firm’s growth came from price increases, but the current owner has kept a detailed data base of all potential clients that have been turned away. Owner wants to share with a new buyer who has a growth mindset.
- Clients are long-term and are a great referral source
- YTD revenue already increased by $100,000 (15%)
- Owner hours are 1,200 per year
- Incredible long-term team, all employees 10-20 years. Low turnover
- Less than $2,500 in AR. 95% of clients pay at time of service
- Cashflow to owner is roughly 49%.
- Average business return average is $1200 and personal return is $950
The ideal buyer will have a CPA and recognize the wonderful staff and strong foundation of this firm. A buyer who is willing to establish a personal presence within this community could take advantage of the growth potential in this area and grow the firm tremendously. Proven relationship building skills will benefit a buyer as a successor of the practice with clients and employees. The ideal buyer will be experienced in the overall management of a practice and team. This is an ideal opportunity for several buyer structures including a growth-minded partnership, one-owner, or an expansion of an existing practice. With an established track record of success and a proven ability to build lasting client relationships, the growth potential is vast and perfect for a savvy buyer.
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