This is a well-established and profitable practice that operates primarily virtually with some client-site visits. The practice focuses on providing full cycle bookkeeping along with some tax work for clients in the Ottawa area.
Revenue: $572,148 (2024). The practice has maintained consistent year-over-year revenue. The owner has chosen to take a managed growth approach with focus on maintaining high quality work and excellent client service. There are strong growth opportunities for a Buyer looking to scale the practice.
Profit: Profit is strong and consistent year over year; 53% (2024), 54% (3-year average).
Service Mix: The practice focuses on providing full cycle bookkeeping but does provide some tax work including corporate tax, small business tax, and minor personal tax.
Reputation: The practice has earned a very strong reputation for providing high quality work and excellent client service. This reputation has led to regular referrals from existing client and industry colleagues; new client inquiries are common. The practice has earned a notable reputation as an expert provider to NPO clients.
Owner Hours: Owner hours are low at ~1,500 hours/year. The Buyer will have their own capacity to take advantage of the available growth opportunities, or continue to enjoy this desirable work/life balance.
Staff: The owner has built an excellent team with all team members well-trained in their roles. All staff are under current contracts that contain non-competes and non-solicits. The practice has long maintained a subcontractor approach for staffing which has proven to be very efficient, effective, and reliable.
Clients: The client portfolio is well established with many long-term clients. Client industries are diverse. The practice has earned an excellent reputation for service of not-for-profit organizations; many are prominent Canadian organizations. As a niche, the NPO clients often provide lead-in opportunities for other similar organizations.
Operations: The practice is primarily virtual with all team members working remotely. The workflows of the practice are well established and efficient; work is distributed according to client need and team member fit. The owner oversees each client file and assists team members with any questions or higher level needs as they arise.
Technology: The practice utilizes industry standard platforms and software. Systems are maintained by an IT service provider and allow fully remote operation.
Location: While operating primarily virtual, the practice does provide some client-site visits for clients in the Ottawa area.
Opportunities: The owner has identified key opportunities for future growth:
- Expansion of Existing Services: The practice has earned a strong reputation as an expert provider in the services they offer. High customer satisfaction levels already lead to many unsolicited referrals and new business inquiries for these same services. A Buyer could proactively leverage their reputation and happy clients for new clients with these service needs.
- Client Niches: The practice has an excellent reputation with NPO’s, and a proven ability to service them well. A Buyer could continue to build upon this highly lucrative niche through additional referrals in the NPO communities.
- Additional Services: The practice does provide some tax advisory; a Buyer has the ability to expand on the advisory component to include other advisory such as financial advisory, structuring advisory, etc for the existing client base, and for future clients.
- Marketing: The practice has grown solely on its strong reputation, referrals, and word-of-mouth. A growth focused Buyer could readily add in some active marketing such as web-based marketing, targeted marketing for specific client groups like NPO’s etc, and participation in local business development groups.
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