Growing CPA Practice in the Thornhill/Markham Area

Designation:	CPA Firm
Location:	Ontario
Status:	SOLD
Listing ID:	ON2111
Asking:	$795,000
Annual Gross:	$660,500
Reason for Selling:	Career Change

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About This Practice

This is an established CPA practice with consistent year-over-year growth, an experienced and committed team, and a loyal client portfolio. Service mix includes compilations, corporate and personal tax, US individual and corporate tax, 1 audit and 4 reviews (all outsourced), minor tax advisory and estate work, and very minor bookkeeping. Employees are designated professionals, very capable, and personable. Staff are client facing allowing the owner to work on the higher level work and business development. The practice has an in-demand US individual and corporate tax service component (~20% of revenue) which a US-experienced Buyer could readily expand. The Seller has also identified several growth opportunities for an incoming Buyer. The practice operates in the hybrid format, with a mix of in-office and work-from-home. Systems are current and secure, allowing the practice to be unlimited in its client and staff geography. The Seller owns their contemporary office in a professional building and can offer the Buyer several options including lease, purchase, or relocate. This is an excellent opportunity for a a growth-minded Buyer who aligns with practice’s services, work model, and progressive future-focus.

Ideal Buyer

The ideal Buyer will be well-experienced in the services offered by the Practice, particularly the in-demand US tax work which currently accounts for approximately 20% of the practice’s revenue. Additionally, a Buyer should have experience in managing a team, and be comfortable with a hybrid employee work structure. The Seller has suggested that a Buyer who can bring the following attributes would be best suited for the practice, staff, and clients: Detail-oriented, Entrepreneurial, Personable, Enthusiastic, Hard-working. While not required, an LPA Buyer would be able to bring the currently outsourced and future review and audit work in-house. This is an excellent opportunity for a growth-minded Buyer who aligns with practice’s services and progressive future-focus.

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About the Area

Markham is a suburb of the Greater Toronto area, located northeast of downtown Toronto. It’s the fourth most populous city in Ontario’s “Golden Horseshoe”, and York Region’s most populous municipality. With over 1,100 technology and life-science companies, Markham is a thriving high-tech capital in Ontario. More than 400 Canadian head offices are located here including IBM, GE Digital Energy, Johnson & Johnson, Toshiba, Honda, and Hyundai. It is also home to Toronto/Buttonville Municipal Airport.

For those who enjoy the outdoors, Markham has over 22km of beautiful pathways, as well as many parks, including the Milne Dam Conservation park, which is Markham’s largest at 305 acres. With Markham being the most culturally diverse community in Canada, you can find a variety of different food cuisines, community festivals, and attractions such as Markham Museum and Flato Markham Theatre. A great place to live, and grow your practice!

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