About This Practice
The Practice offers a broad compliment of services including compilations, corporate and personal tax, estate, 2 small reviews (optional), tax advisory, bookkeeping and payroll, and T-slip preparation.
By their choice, the owner maintains the practice at a consistent size and yearly revenue amount by turning away referrals and new inquiries.
Profit is consistent and strong with a 3-year average of ~49%.
The practice has earned an excellent reputation in the local and surrounding market.
Owner hours are relatively low at ~1,800 hours/year allowing options for a Buyer who could spend available time on business growth and development and/or keep their hours low and enjoy a desirable work/life balance.
The owner delegates work to the client-facing team with full confidence that results will be accurate and on time. While the staff require little supervision, the owner provides support when needed.
A collaborative approach to work and client service allows the owner to focus on the higher-level work while enjoying relatively low owner hours.
The staff are well-trained and highly capable in their roles. Team members are dedicated to the practice, loyal, and reliable. Being client-facing, the staff are very appreciated by the clients, often receiving compliments on their work, attentiveness, and friendly service.
The owner has built a stable and desirable client portfolio. Client demographics are ideal; much future billing time and opportunities exist within the existing client base. The portfolio is industry diverse with no concentrations or overly large clients.
Operations are streamlined, efficient, and appropriate for a practice of this size. Workflow is well defined; team members work independently and collaboratively to produce on time quality results.
The office is very well located in a highly desirable area that’s in the midst of a strong local market and surrounded by large urban markets. The office is clearly signed and highly visible on a busy street. The location is easily accessed locally and by major routes.
Growth opportunities are many; a growth-minded Buyer will have immediate and solid options to build the practice beyond its current size.
This is an excellent purchase opportunity for many Buyer scenarios.
Do not delay in following up – this could be your 2025 future!
Ideal Buyer
The ideal Buyer will be a CPA with strong knowledge and experience in the services offered by the practice. The Buyer will also have strong general business knowledge.
Strong familiarity with owner managed businesses and multi-industry clients will be ideal for the current portfolio and available future business.
Experience with managing a Team will be very beneficial for the Buyer, particularly a growth-minded Buyer who would continue to build the team.
The owner notes that the ideal Buyer will be a strong communicator and a proven relationship builder. The practice maintains strong connections with local referral partners who are familiar with the practice’s strong reputation and capabilities.
Strong opportunities also exist for a Buyer who is community-minded and would want to leverage the practice’s reputation through a presence in community groups and sponsorship options.
This is an excellent opportunity for many Buyer scenarios including:
- A Buyer looking to locate in a highly desirable area that’s in the midst of a strong local market and surrounded by large urban markets;
- A Buyer looking to move into practice ownership with a turn-key operation;
- A Buyer looking to add a desirable client portfolio and strong team into an existing practice.
This is an excellent and achievable acquisition opportunity – do not delay in following up if this sounds like a potentially great fit for you!
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