Fast-growing full-service Toronto CPA firm with US tax sub-niche

Designation:	CPA Firm
Location:	Ontario
Status:	SOLD
Listing ID:	ON2089
Asking:	$895,000
Annual Gross:	$636,638
Reason for Selling:	Career Change

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About This Practice

About this Practice

This is a rapidly growing CPA firm with a strong client base and exceptional team. Client engagements include compilations, reviews and audits, personal and corporate tax, US and cross-border individual and corporate tax, consulting and advisory, minor trust work, and no bookkeeping. Current year 2021 revenue is conservatively tracking at $820,000. An excellent reputation, high quality work, and a diverse mix of services creates many referrals and a very strong growth trend. A fully paperless office, and efficient streamlined processes allow capacity for growth and increased profit. Employees are highly capable, and work as a team to produce high quality results for clients. The firm continues to grow quickly by building trusted advisor relationships and providing high value to its client base. Cashflow to owner is good, with very low owner hours at ~1050/yr.

The office is in a great commercial location with high visibility and direct access to local amenities. The custom renovated brick/beam style office is bright and open.

This is an excellent opportunity for a buyer looking for a solid and established firm with a proven track record of consistent growth.

Ideal buyer

The ideal buyer will be an LPA. Strong public accounting experience along with good general business knowledge is required. Experience in US and cross-border tax is also ideal as billings in this segment are a notable part of overall revenue. The buyer will be very personable, able to integrate well with a high-performance team, and established client relationships. A good-fit buyer will understand and foster the value of the staff, and continue investing in employee development. A progressive owner will want to leverage the reputation, capability, and referral opportunities to continue the consistent growth trend of the firm.

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About the Area

Toronto is Canada’s largest city. It is located along Lake Ontario’s northwestern shore and covers an area of 630 square kilometers. Toronto is repeatedly and consistently ranked at the top of international indexes for competitiveness, innovation and livability, and ranks as the tenth most economically powerful city in the world. According to Forbes, powerful cities such as Toronto attract investment due to the size of their economy, their projected future prosperity, cost of living and quality of life. Toronto is Canada’s financial and banking capital and holds North America’s third largest concentration of private IT companies. In addition, Toronto is a major industrial centre, producing more than 50 percent of Canada’s manufactured products.

Toronto is one of the world’s most multi-cultural cities, which adds to the city’s rich diversity of foods and restaurants, languages, arts and entertainment. It’s home to 6 major sports teams, six opera companies, 2 symphonies, several art galleries and over 50 ballet and dance companies. Toronto has a diverse array of city squares and public parks, including Rouge National Urban Park, which is the largest in North America. Toronto also has a number of post-secondary academic institutions including University of Toronto, which is ranked as one of the top 50 universities in the world, and is number one in Canada.

Toronto offers Accountancy firm owners incredible opportunity for business growth, and a world-class city to call home.

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