Desirable and Profitable London Accounting Practice Ready to Grow!

About This Practice

This is a very well-regarded profitable accounting practice in northwest London with a long reputation for quality work and personable service. The practice offers a broad mix of in-demand services including compilations (NTR’s), corporate tax, business tax, personal tax, tax advisory, payroll (1 large but committed client and 2 small clients), minor bookkeeping (4 clients), and minor estate work. The desirable client portfolio has been curated over a number of years with many clients 10+ years with the practice. Client industries are diverse and ideal. Clients regularly provide referrals, and new inquiries are frequent. The owner has one employee who focuses on file preparation, payroll, bookkeeping, admin, and reception. The owner speaks very highly of this staff member noting that they’re very capable, very dedicated, and very reliable which allows the owner to focus on the higher-level work. As a smaller practice, operations are nicely straightforward and simple. The owner and their employee have each of their responsibilities well defined, and workflow is accordingly efficient. Owner hours are low at ~1,450 hours/year.

A Buyer has the opportunity to maintain this rare work/life balance or easily add more hours to further grow revenue and grow already strong profit even higher. The office is bright, modern, and ideal for the practice. The practice is very well located in the northwest of London amidst strong commercial development and a high-quality small business market. The location is easily accessed locally and by major routes. The practice has seen steady year-over-year growth due in part to the growth of existing clients and the selective onboarding of the many referrals and inquiries. The owner has however chosen, by their preference, to maintain the practice around its current size, often having to turn away new business to do so. While the owner has chosen to maintain the practice at its current size, the owner is very clear to note the strong growth potential and specific growth strategies for a Buyer looking to build the practice further. This is a rare and exceptional opportunity for a Buyer looking to own and grow their practice in the London area!

Ideal Buyer

The services offered by the practice do not currently require a designation however a CPA Buyer will have greater ability to expand the practice and service lines. At minimum, the Buyer will have strong experience in the services currently offered by the practice. Equally, the Buyer will have strong general business knowledge. The practice is known for their quality work and personable service so a Buyer intending on providing the same will be able to carry forward with what the clients appreciate and value in the practice. While the practice has just one employee currently, a Buyer will have people management skills and experience, particularly with the growth potential for the practice. Ideally the Buyer will be growth-minded and looking to expand the practice by capitalizing on the many opportunities, or a Buyer looking for a great work/life balance can readily operate the practice as-is. This is a rare and  excellent opportunity for many Buyer scenarios including a Buyer looking to get out of industry and into their own practice, or a Buyer looking to expand their existing practice by bringing on a desirable client portfolio and strong team member.