This is a long-established and profitable CPA practice with consistent growth and many development opportunities.
The practice provides a broad range of services including compilations, corporate/small business/personal tax, tax advisory, audits (2), reviews (2), and minor bookkeeping/payroll.
The practice has maintained a steady track record of year-over-year growth fueled by existing client referrals and new business inquiries. The practice has a 3-year average growth rate of ~13.5% with the most recent completed year (2024) at 18.2%.
Profit is strong and consistent at ~53% (2024).
Quality work and personable customer service have earned the practice an excellent long term reputation.
Low owner hours at ~1,600 hours/year will provide the Buyer time to take on additional client work, and/or focus on business development, and/or enjoy an excellent work-life balance.
Staff are highly capable in their roles and very familiar with the operations of the practice. Staff tenure demonstrates their commitment to the practice and their enjoyment of their roles.
The client portfolio is long term, stable, and industry diverse. Clients are very pleased with the work of the practice and the value they receive, as evidenced by regular referrals. The client base is demographically ideal with younger/newer clients providing opportunity for many years of growth-related service needs and long-term clients requiring generational transition services.
The operations of the practice are kept simple and efficient with no unneeded complexities. Workflows are well-defined, and each team member owns their role and responsibilities.
The office is ideal as a professional accounting office, presenting well to clients, and providing a bright and professional atmosphere for staff. The office has plenty of convenient onsite parking for staff and clients.
The owner has identified key opportunities for future growth:
Additional Services: While the practice offers a wide variety of services already, the owner has noted client inquiries and interest in the areas of higher level tax advisory and tax planning; a Buyer with experience in these areas could readily take on these inquiries that are currently being declined.
Specialization: The owner has noted demand and referrals related to professional services – medical and health services have been a particular client industry that has shown interest in the practice’s services.
Marketing: The practice has grown solely on referrals and new inquiries based on reputation. A Buyer could leverage reputation in some active marketing to further grow the practice at an even faster pace.
This is an excellent opportunity for many Buyer scenarios including a Buyer looking to move out of industry and into practice ownership or a Buyer with an existing practice looking to grow with an excellent client portfolio and talented staff.
Do not delay in reaching out – this opportunity could be yours at just the right time!
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