About This Practice
This is a highly regarded and well-established CPA practice with strong future growth opportunities.
The practice offers an in-demand service mix which includes compilations, corporate and personal tax, bookkeeping, advisory, and one review (optional, ~$12k).
The Seller defines their practice as a ‘Trusted Advisor’ to their clients. They pride themselves on providing genuine care and quality work for all their clients.
The client portfolio is stable and loyal. There is longevity in the portfolio with a desirable demographic and strong future billing opportunities.
The Seller has built and retained a strong team of client-facing professionals allowing the Seller to delegate and focus on the higher-level work.
Staff are well trained, capable, loyal, and reliable. Staff work from the office in a strong and positive work culture.
Workflow is well defined and efficient. Responsibilities are clear. The team works independently with little supervision, and also works collaboratively to support the required work and deadlines.
The practice has earned a strong reputation in the area and receives regular referrals from existing clients along with word-of-mouth new business inquiries – most of which are currently turned away.
Steady year-over-year growth has continued although the Seller did choose to limit/stop growth over the past few years to maintain the practice at its current size.
The office is stand-alone and is well suited as a professional accounting office for both clients and staff.
The practice is well located. The office is easily accessed locally and by major routes. Prominently signed with excellent exposure on a busy major street.
This practice offers great future growth opportunities for a Buyer looking for a turn-key presence or expansion with an excellent location in one of Canada’s fastest growing regions!
Ideal Buyer
The ideal Buyer will be well experienced in the services currently offered by the practice. While the single review (~$12K) is optional for the Buyer, an LPA Buyer would have the ability to take on this review and take in the additional demand for assurance work.
General business knowledge along with experience in managing and growing a team will be important for the Buyer.
The practice has built an excellent ‘trusted advisor’ reputation – the Buyer will align with this type of approach to service and client care. A strong communicator and relationship builder will be well suited as a Buyer as the staff and clients are familiar with this type of owner.
The Buyer will want to be growth focused. The Seller has found it challenging to limit growth based on the referrals and new business inquiries.
If the Buyer wishes to operate the practice as it has been operating, the Seller suggests a Buyer, along with themselves, bring a CPA manager into the practice; a CPA staff member has recently retired from the practice and the Seller has not replaced that staff member yet.
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