About This Practice
This is a long-established CPA practice with very loyal clients and exceptionally dedicated staff. The practice offers a broad complement of services including compilations, audits, reviews, corporate, personal, and estate tax, minor tax compliance, and minimal bookkeeping. The practice has earned a strong reputation for quality work and personable service. Referrals are common and word-of-mouth regularly brings in new inquiries. Clients are very loyal. The client portfolio is industry diverse with no risk industries or concentrations. Staff are highly capable, and client-facing. The owner provides autonomy to the team and support when needed. The team works independently with little supervision allowing the owner to focus on the higher-level work. Owner hours are lower than average, allowing a great work/life balance, or the ability to focus on practice development and growth.
Operations and workflow are streamlined. Platforms and software are industry standard. Systems are secure. The bright and modern office is located on the main floor in an attractive office building. Ongoing lease options exist for a Buyer looking to retain the office. The office is well located in a busy commercial area within a strong small business client market. Revenues are very consistent year-over-year on account of the owner preferring to maintain the practice at its current size. Opportunities however are many as identified by the Seller. For the right Buyer, the Seller may be willing to stay on in some capacity through an ongoing work arrangement. This practice offers an excellent opportunity for many Buyer scenarios including a Buyer looking to move into practice ownership with an amazing head start, or a Buyer with an existing practice looking to onboard a desirable client portfolio and strong team.
The ideal Buyer will be a CPA with strong experience in all the services offered by the practice. ***The Buyer will also hold a Public Accounting License for the assurance work of the practice (~33% of total revenue). The Buyer will recognize the strength in the existing team and the independence the team is provided to do their work. The Buyer will be a proven relationship builder, this will be a key ability in leading the team and building relationships with clients, and industry referral partners. A Buyer will have proven experience in managing and growing a team. The ideal Buyer will see the development and growth opportunities available to the practice, and will be action-oriented to implement strategies to improve the practice and take it to the next level. For the right Buyer, the Seller may be willing to stay on in some capacity through an ongoing work arrangement.
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