About This Practice
This is a tax-focused virtual practice that has quickly developed a strong client portfolio for services provided to the niche industry of arts & entertainment. The practice operates virtually utilizing cloud platforms to service their clients remotely. Services include corporate tax, business tax, and personal tax. Profit is exceptional at 85%. While more recently established, clients in the niche industry are very happy to have a niche provider. Clients are loyal and provide many colleague referrals. Reputation in the niche industry has created very fast growth; 2020 to 2021 growth was 40% and the Seller conservatively projects 2022 growth at minimum 25+%. Owner hours are very low at only ~425 hours/year, with most of these spent seasonally at tax time. Systems are streamlined and simple. Platforms and software are cloud-based and industry standard. This is an excellent opportunity for a Buyer looking for a unique and focused practice with tremendous ongoing growth potential.
The ideal Buyer will have knowledge and experience in the services currently offered by the practice. The current work does not require a CPA, however a CPA will be able to offer additional services into the practice. Good general business knowledge is also essential, particularly for a Buyer looking to take advantage of the growth opportunities. While the work and service does not require a Buyer who is entirely familiar with the arts & entertainment industry, a Buyer who does have an understanding of the industry will relate well to the clientele of the practice.
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