About This Practice
This is a well-established CPA firm with 3 locations that has seen amazing growth year after year including a 116% revenue growth in 2 years (including acquisitions)! This firm is the perfect acquisition for a firm, PE buyer or entrepreneur looking to get into the NC market and expand in the South. Affluent clients love this firm as a one stop shop for all their accounting and finance needs. The company has carved out a niche for itself by offering customized financial solutions to match the particular requirements of its clientele, with a focus on helping rural government agencies. They have grown roughly $1 million in revenue per year – 2023 revenue was $4,720,352 and conservative projections (not including future new clients) are $5,610,000. This firm’s unique combination of experienced staff, strategic growth, and strong client relationships positions it as a prime opportunity for potential buyers.
Key Highlights include:
Skilled Workforce: The firm has a dedicated team of over 20 employees. Staff members have expertise in various tax and accounting areas, allowing the firm to handle specialized client requests efficiently. This firm is highly credentialled with more than 6 CPAs on staff. The owner trusts employees to get their work done and supply top-quality products. By delegating the day-to-day operations, the practice largely operates on minimal supervision.
Owner’s Expertise and Vision: The owner will be a huge asset to a buyer as he wishes to stay on for 4+ years and focus on continued, rapid growth. The current owner will be an invaluable resource for his vast network of community professionals and plans for growing the firm. The owner was a partner in a top 5 firm. The owner and employees are one of the largest highlights of this practice!
Operational Excellence: The firm operates 100% paperless with an established client portal, offering flexibility for remote work and minimal supervision, ensuring high-quality and timely service delivery. Processes have been streamlined.
Expansive Opportunities & Niche Market: The owner has identified several substantial growth opportunities that are being pursued, including expanding their niche government work and expanding to new territories in NC through acquisition. Several of these opportunities could easily add millions in revenue. The current owner has bought 4 firms previously and shifted all to focus on primarily business clients, unlocking additional revenue.
Highlights:
- Owner wants to stay 4+ year running the firm and growing it
- 6+ CPAs on staff, many staff are remote
- 100% Paperless. Client Portal is established
- High net worth clients, who are loyal and provide great referrals. Average taxable income is $206,000.
- Government niche makes up about half the revenue and has exponential growth opportunities, that the current owner is expanding each year.
- Paperless: 100% paperless and cloud-based systems. Client Portal is established.
- 75% of returns are connected with a business.
Ideal Buyer:
This offers a unique and compelling opportunity for buyers looking to capitalize on its exceptional growth potential and strategic marketing positioning!
The owner’s goal has been to run and grow a superior CPA firm while scaling throughout the Raleigh area. A buyer who truly sees the value in the skill set of the owner and wants to rapidly grow will want to jump on this opportunity. The buyer should have strong organizational skills and know how to run and scale businesses. This could be perfect for an entrepreneur looking to rapidly grow and buy multiple practices, private equity buyers looking for an incredible owner to partner with, or a North Carolina firm who is looking to expand. A buyer should have experience managing a large team, be tech-savvy, and should be able to act decisively. The right buyer will have an entrepreneurial spirit and a growth mindset. This is an extraordinary CPA firm and a rare opportunity to find this combination of quality clients, superior processes, skilled staff, and an accomplished owner eager to scale and continue running the business.
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