About This Practice
This is a long-established, profitable, and reputable CPA practice with excellent growth opportunities. The practice offers a broad complement of services including compilations, personal tax, audits, reviews, bookkeeping, and very minor estate work and advisory. Profitability is strong and consistent with a 3-year average of ~53%. The owner has attempted to maintain practice revenue at their preferred size but demand continues to push client count and revenue up, conservatively tracking at +7% for 2023. The practice has earned an excellent reputation with regular referrals coming from clients and industry colleagues.
The owner has built a great team of very capable, reliable, and dedicated staff. Team culture is strong. Employees embrace professional improvement opportunities and are looking to grow with the practice. Staff work independently with little supervision allowing the owner to focus on the higher-level work. The client portfolio is desirable and industry diverse. Clients are long term and loyal to the practice. Operations are efficient and streamlined. Workflow is smooth, assisted with a practice management platform that helps maintain efficiency, productivity, and proactive timelines. Systems are current and secure, and allow the ability for remote work and service, key to a Buyer looking at these future-focused approaches. The office is professional, a great environment for staff and clients. Location is excellent in a high-growth area of the GTA. The office is highly visible and easily accessed. Growth opportunities abound for this practice; immediate growth options have been identified by the Seller.
This is a great practice for a growth-minded Buyer looking to flourish in an excellent GTA market!
The ideal Buyer will be very experienced with all the services offered by the practice. The Buyer will be an LPA, or have a viable means to handle the assurance work of the practice (which currently makes up approximately 25% of overall revenue). The Buyer will also have strong general business knowledge, including experience and ability in managing and growing a team. While the market is broad, a Buyer who maintains and builds industry relationships will benefit from these strong referral sources. As a relationship builder, the Buyer will do well with the staff and team through a supportive yet trusting approach. Staff embrace professional development opportunities and are looking to grow with the practice. *Ideally the Buyer will have existing staff capacity to handle some current work of the practice, and also to take on the referrals and new inquiries which are often being turned away currently.
This is an excellent opportunity for many Buyer scenarios. This well-established practice is ideal for any Buyer looking to take on a practice of their own, and a Buyer who is looking to onboard a desirable client base and excellent team. Regardless of Buyer motivation, this practice offers outstanding and immediate growth opportunity – do not hesitate to inquire!
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