About This Practice
This is a well-established CPA practice with an excellent reputation and great location. The practice offers a rounded complement of services including compilations, corporate tax, and related T1’s, minor stand-alone T1 & T2125 personal tax. tax and business advisory, some estate and trust work, 3 reviews (~2% of revenue), very minimal bookkeeping/payroll. The owner has maintained an ideal client portfolio, industry-diverse and no overly large clients. Clients are loyal and long-term. The owner has also built a strong team of capable and dedicated professionals. The staff are client-facing, often complimented by clients for their quality work and personable service. The practice has earned a strong local reputation for their provided services.
The owner has chosen to maintain the practice at its current size, however growth opportunities abound through regular referrals from existing clients along with steady referrals from industry partners and associates. Operations are refined, workflow is effective, and roles/responsibilities are well-defined. Systems are current, secure, and offer the ability for remote work. The office is very conducive to the accounting profession, appreciated by staff and clients alike. Location is excellent being in the midst of a vibrant small business and commercial area. The office has visible signage on a busy commercial street. The owner has identified several growth opportunities for a growth minded Buyer. This is an excellent opportunity for many Buyer scenarios including an existing practice owner looking to add great staff and ideal clients. High quality practice, great staff, ideal clients, fantastic location, much opportunity…a perfect recipe for your future!
The ideal Buyer will be a well-experienced CPA, particularly in the service lines currently provided by the practice. The practice currently does minor review work and has training office status so while not required, an LPA Buyer would have opportunity to continue and/or expand assurance services. The owner has confirmed that a non-LPA Buyer could readily outsource or transfer the minor review work without related consequence. The ideal Buyer will also have strong general business experience including team management and development. Clients and staff are familiar with a ‘professional casual’ environment; the right-fit Buyer will have the qualities that will continue to foster this type of setting and approach. The owner and practice provide excellent service, communication, and timely work; a Buyer who provides these same approaches will relate well to clients and staff who are familiar with the same. The owner provides autonomy to their capable staff while at the same time welcomes collaborative work; the ideal Buyer will recognize the strength of the team and each staff member. The owner invests into and supports their team through ongoing education, a benefit plan, etc; the ideal Buyer will share the same understanding of the value of team in the success of the practice. The ideal Buyer will see the value in the practice – the strong team, the ideal clients, the excellent location, the great future growth opportunities; this is an excellent chance to acquire an excellent practice!
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