About This Practice
This is a very-well established and highly regarded CPA practice. The firm offers a broad compliment of services including compilations, business tax, personal tax, tax advisory, review, audit, estate, bookkeeping, and US individual tax. While review and audit make up a small portion of revenue (~10%), the review/audit component could be readily handled through strategy such as outsource for a non-LPA Buyer. The practice has earned a very strong reputation in the business community. Established relationships with industry partners create an ongoing referral stream that the owners have had to manage to maintain their preferred size and workload. The long-established client portfolio is diverse, stable, and desirable.
Clients are loyal and also provide regular referrals. The team makes this practice that much more valuable. Staff are highly capable, committed, and personable. Staff work directly with clients allowing the owners to focus on the high-level work and operations. The practice maintains a people-first focus which is clearly seen in staff engagement and customer satisfaction. Operations are streamlined and efficient. Software, platforms, and systems are current, secure, and industry standard. Location is excellent. Surrounded by a strong and steadily growing commerce region, the practice is well-poised for significant future growth. The owners have identified key growth opportunities for a Buyer looking to shift to a rapid growth approach. This is an amazing opportunity for a Buyer looking for all the advantages of a well-established and highly regarded firm, along with all the opportunities for ongoing future growth in a vibrant commercial region.
Ideal Buyer
The ideal Buyer will be an experienced CPA who is knowledgeable in the services provided by the firm and equally familiar with the requisite work that comes with owner-managed businesses. In addition, the ideal Buyer will have experience managing and growing a team of professional staff. A relationship builder will do well in maintaining the engagement of the team and each staff member, and also the long-standing and future client relationships. The staff enjoy the trust and autonomy provided to them in their roles; a Buyer who leads in this same way will be able to carry on this valued work environment. The ideal Buyer will be growth-minded, as the practice has continued to grow even with the managed-growth approach of the owners. A Buyer ready to scale the practice will be able to take advantage of the referrals and overall availability of business that regularly comes to the firm.
A non-LPA Buyer could use strategy such as outsource for the small percentage of review/audit work.
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