Established Profitable Bookkeeping & Tax Practice in Waterloo Region

About This Practice

This well-established practice is future-focused and ready to grow. All components are in place to support scaling the practice. The practice currently offers services in the areas of bookkeeping, corporate and personal tax, T4/T5 preparation, and minor advisory/consulting. Profit is good at ~43% (2022). Current year revenue projection is strong and trackable. The client portfolio is loyal, longstanding, and industry diverse. The owner has curated the client base to include ideal clients, those that are high value, easy to work with, and strong communicators. The owner has built a strong and valuable team. The staff are highly capable, committed, and long-term. Staff are client-facing, often receiving compliments for their work and personable nature. Relationships and quality work is the foundation of the practice. Referrals are common as a result of the great client experience the practice provides.

The owner has implemented technology, platforms, and software to maximize efficiency and maintain excellent workflow. Staff and clients have embraced the benefits of the practice’s progressive approach. The owner maintains reasonable hours and a great work-life balance. The office is very professional. The newly renovated space offers a great environment for staff and clients. Location is excellent with great exposure and easy accessibility. The practice is entirely capable of remote operation, ideal for a Buyer looking to operate in a future-focused hybrid (semi-cloud) format. While the retiring Seller has taken a more managed approach to growth, they have identified some key growth opportunities for the incoming Buyer. This is an excellent, rare, and achievable opportunity for several Buyer scenarios including a Buyer coming out of industry who wants to own their own practice, or an existing similar practice looking to gain an excellent client portfolio and team, or a CPA practice looking to add these services into their own practice through acquisition of an established and professional operation.

Ideal Buyer

The ideal Buyer will have strong experience in the services provided by the practice. While no designation is currently required for the services provided, a CPB designation (same as Seller) would be a definite asset. A Buyer with a CPA designation will be able to expand the service portfolio accordingly to capture the additional business currently being referred out. The Buyer will be an excellent relationship builder, specifically as it pertains to staff and clients. Experience in managing and growing a Team will be a very valuable attribute for a Buyer looking to continue the growth trend of the practice. This is an excellent, rare, and achievable opportunity for several Buyer scenarios including a Buyer coming out of industry who wants to own their own practice, or an existing similar practice looking to gain an excellent client portfolio and team, or a CPA practice looking to add these services into their practice through acquisition of an established and professional operation.