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.
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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