Established CPA Practice in Western Ontario with Excellent Growth Opportunities

Designation:	CPA Firm
Location:	Ontario
Status:	SOLD
Listing ID:	ON2127
Asking:	$950,000
Annual Gross:	$845,035
Reason for Selling:	Retirement

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About This Practice

This is a well-established CPA practice with excellent growth opportunities. The practice offers a full range of services including compilations (NTRs and bookkeeping), audits (12), reviews (5), personal tax, tax advisory, and minor estate work. This mix provides clients with a one-stop shop for all their accounting needs. The client portfolio is diverse and stable. Clients are very loyal, many having been with the practice for several years. The owners have honed their client base over time to include only ideal clients. Staff are highly capable, loyal, and engaged. At a time when hiring is so challenging, this practice’s established team adds tremendous value to the practice. Staff are client-facing allowing the owners to focus on the higher-level work. The practice has earned a strong reputation for quality work and genuine client care. This reputation continues to generate referrals and regular new client inquiries.

Operations are streamlined and efficient. A good work/life balance has been a priority for the owners. Systems are current and capable of full remote operation. The office is a stand-alone professional office building with lease or purchase options. The office is well-located on a busy commercial street corner with excellent office visibility. Easily accessed locally and by major routes including the 401 and 403 highways. Ideally located central to a broad drawing area of strong current and potential clients. This is a rare and excellent opportunity for many Buyer scenarios including an established practice looking to onboard a desirable client base and a strong team, or a Buyer looking to move into ownership and begin with a well-established turn-key practice and excellent growth opportunities.

Ideal Buyer

The ideal Buyer will be a CPA with strong experience in the services provided by the Practice. One of the owners is open to the possibility of staying on in a working type arrangement with the Buyer – this owner is an LPA which could allow the LPA work to be maintained by the practice for a non-LPA Buyer (Buyer to confirm). Alternatively, the Buyer will need to be licensed, or have a plan for the LPA work (5 reviews, 12 audits) which makes up ~16% of overall revenue. The Buyer will also have experience managing and growing a team, particularly a Buyer looking to take advantage of the growth opportunities available for the practice. A strong relationship builder will do well with the existing clients, and also new clients seeking the services offered by the practice. A tech-savvy Buyer has the opportunity to bring further efficiency and value into the practice through the technology options available to practice owners today. This is a rare and excellent opportunity for many Buyer scenarios including an established practice looking to onboard a desirable client base and a strong team, or a Buyer looking to move into ownership and begin with a well-established turn-key practice and excellent growth opportunities.

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About the Area

Mid-southwestern Ontario is strategically situated in the heart of one of the most robust economies in North America. Rich in farming and manufacturing, this advantageous area is ideal for businesses to build and thrive. Several major employers have chosen this area to call home, including Toyota. As one of Ontario’s richest areas for farmland, agriculture is also a key industry that is driving innovation in sustainable industries and diversifying the local economy. The area is emerging as a leader in sustainable growth with a commitment to achieving 100% renewable energy and becoming zero-waste. Located in the centre of southwestern Ontario, your business will have access to almost 2 million people located within an hour’s drive. If cross border services may be a current or future service line in your practice, there are 6 US/Canada border crossings within a 2-hour drive.

The area has experienced steady growth due to a solid blend of community amenities, attractive housing, a state-of-the-art regional health care facility, and an ideal central location. Post-secondary opportunities in the area offer strong appeal to families and businesses; 26 Colleges and Universities are within a 2-hour drive.

Mid-southwestern Ontario represents the best of both worlds: urban communities full of life, entertainment, and commerce; and, rural areas that are rich in natural resources, history, and farming communities. The area offers a wide range of stores and boutiques, retail businesses, farmers’ markets, theatres, art galleries, museums, annual events, spacious conservation parks, natural areas, and more than 100 kilometres of scenic trails. The area still holds traditions of days gone by fused with new ideas, people and innovation. You’ll find quiet trails, creators, shopkeepers and farm fresh food. The food scene is largely defined by decades of farming tradition as well as innovative entrepreneurs who have made the area their home. It’s easy to eat in tune with the seasons and find something completely unique.

If you’re looking to start a new business or expand your current one, mid-southwestern Ontario is the perfect spot for you!

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