Growing CPA practice in desirable Oakville, ON

Designation:	CPA Firm
Location:	Ontario
Status:	SOLD
Listing ID:	ON2109
Asking:	$365,000
Annual Gross:	$282,259
Reason for Selling:	Retirement

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About This Practice

Built from a single client in 2007, this growing CPA practice has earned an excellent reputation for quality work and personable service. Profit is very strong ranging between 56% – 77% across the past 3 years. A desirable service mix includes corporate and business tax, personal tax, controllership, and minor bookkeeping/payroll. The client portfolio is diverse and consists of quality clients in stable industries. Staff are very capable, working independently and as a Team. Clients and industry contacts provide regular referrals and plentiful 5-star reviews. Growth has been consistent as a result of regular referrals and a high ROI SEO strategy the Seller has implemented.

Conservative projection for the current year is in excess of $300,000. Operations are systematic and efficient. The practice has the ability to operate remotely. All tech is current and secure. Very well located in a prosperous and desirable area. Several growth opportunities exist for an incoming Buyer including the addition of Audit and Review services based on existing and potential client inquiries; as well, with the practice’s ability to operate remotely and with less than 5% of clients attending the office, the practice is ready for a future-focused Buyer looking toward the cloud. This is an excellent opportunity for several Buyer scenarios including a Buyer looking to leave industry and own their own practice, or an existing practice looking to expand their portfolio/revenue in Oakville or virtually.

Ideal Buyer

The ideal Buyer will be a CPA experienced in the firm’s areas of service. Strong general business knowledge is also required. Experience in managing and growing a Team will be very beneficial for a growth-minded Buyer. The ability to build and maintain relationships is essential for an owner working with clients and staff. A Buyer with the future in mind will recognize the practice’s ability to work and service remotely. A Buyer with finance and management experience will be well prepared to build on the growing demand for the practice’s fractional controllership services.

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About the Area

Oakville is home to over 8,000 businesses across a variety of sectors. It’s located in the heart of the Greater Toronto Area, only 30 minutes from downtown Toronto – Canada’s economic powerhouse and the fourth largest city in North America. 80 percent of Oakville’s population (ages 25 to 65) has a post-secondary education making Oakville one of the most educated communities in Canada and the world. Oakville offers a great depth of talent available locally – specialized professionals with skills and experience for knowledge-based industries. MoneySense Magazine has ranked Oakville as the best place to live in Canada. Oakville is in the top ranks of the best places to live, best places for newcomers, best places to retire and best places to raise a family in Canada.

The area offers an abundance of natural surroundings – waterfront parks, walking trails and bike paths. Endless shopping, dining, cultural, and sporting opportunities make up Oakville. Within Oakville and one hour are 17 world-class universities including Sheridan College, one of the world’s premier animation and design schools, providing applied arts and technical programs. Equally, home to many of the best private schools in Canada. On top, Oakville is a safe community with excellent community facilities and health services. An amazing place to grow your practice and enjoy an incredible lifestyle!

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