About This Practice
This highly profitable CPA practice is very well-established. Services are well rounded and include compilations (NTR’s), 6 reviews (~19% of revenue), (no audits), corporate tax (T2), business tax (T2125), personal tax (T1), minor tax advisory, bookkeeping (including minor payroll), and very minor estate work. The client base is very desirable and ideal. Client industries are stable and diverse with many high-net worth clients in the portfolio. Clients are all long term and highly committed. Business succession and planning is creating high-value work and a lucrative continuance of clients and revenue. The practice has primarily been operated by the owner along with one part-time bookkeeper and one part-time admin staff. Both will also be retiring allowing the Buyer to use existing capacity or hire to their preference. Profitability is very strong at ~67% (2022) while owner hours are low at ~1,650/year.
The practice has earned a very strong reputation in the area for quality work evidenced by long-term client tenure and referrals that come in from appreciative clients. The practice has great growth potential based on regular referrals along with the ever-growing small business numbers in the vibrant commercial area. The main floor office is bright, modern, and ideal for the practice, the clients, and future growth. This is an excellent opportunity for several Buyer scenarios including a Buyer looking to move from industry into their own practice, or a Buyer with an existing practice looking to add an excellent roster of high-quality clients.
The ideal Buyer will be a CPA with strong experience in the services offered by the practice. An LPA designation, or a means to handle the Review work, will also be required. Strong general business knowledge is essential, particularly for a growth-minded Buyer who intends to capitalize on the growth opportunities of the practice, and the staff hiring/management that would come with this growth. The Buyer will have proven relationship building abilities and a personable manner to complement their professional skills and experience. This is an ideal practice for several Buyer scenarios including a Buyer looking to move from industry to their own practice, or a Buyer with an existing practice looking to add an excellent roster of high-quality clients. Proximity to the current office or area would be ideal as the clients are familiar with the personal service offered onsite.
Request Full Profile