Established turn-key CPA practice in Newmarket area

About This Practice

This is a long-established and turn-key CPA practice with modern operations, scalability, and much growth opportunity. 3-year average profitability is strong at ~56%. Service mix includes compilations, personal tax, corporate tax, 7 audits (~16% of revenue), 2 reviews (~2% of revenue), and minor tax advisory. The practice’s T1’s are high worth, more complex, personal returns.  The audits are not complex but will require an LPA Buyer. The client portfolio has been hand-selected over time to contain only the most desirable clients. Clients appreciate the high level of personable service, and often provide referrals. There are no staff currently allowing an incoming Buyer the ability to hire to their preference or utilize existing capacity.

The practice utilizes current industry-standard operating platforms and software which allow full remote operation and full scalability for future growth. Opportunities are many with this practice. Although the owner has chosen to maintain current workload, a growth-minded Buyer could readily expand the practice. Location is excellent, situated in one of Canada’s fastest growing markets. The office is contemporary, freshly renovated, and an ideal professional space; landlord has noted significant flexibility allowing many lease or relocate options. This is a rare opportunity to acquire an established and very well-regarded practice at this price point. A Buyer coming out of industry, or a Buyer looking to add a very desirable client portfolio to their existing practice will not want to miss this opportunity.

Ideal Buyer

The ideal Buyer will be well-experienced in the services the practice provides. The practice requires an LPA Buyer for the review and audit work. The Buyer will also have strong general business knowledge, and familiarity with the with the needs of owner-managed businesses and NPO’s. Long-term client relationships, along with new and future client relationships, will be fostered by a personable Buyer who recognizes the impact and importance of relationship building and high-level service. The ideal Buyer will also recognize the growth opportunity for the practice and will have the desire to grow by taking on the referrals and available business. This is a rare opportunity to acquire a smaller but scalable turn-key practice with great growth opportunities waiting.