This is a well-established and profitable (~49% 2024) CPA practice with an excellent reputation. The practice has an exceptional and consistent track record of year-over-year growth. Systems and workflows are in place to provide ongoing scalability to fulfill the strong market demand.
The service mix includes compilations, corporate and personal tax, tailored tax planning, bookkeeping/payroll, US individual and corporate tax, slip preparation, and advisory.
The practice has earned a strong reputation as the ‘go-to’ firm for accounting services, and particularly the lucrative and rapidly growing niche of cross border tax work. New client inquiries are common based on word-of-mouth and client reviews.
Billing is primarily subscription which keeps cashflow consistent month to month.
The practice utilizes a combination of in-house, remote, and off-shore staffing options. This has allowed the practice to be operationally efficient and wage cost efficient. It has also allowed the practice to scale quickly while ensuring workloads and capacity remain ideally balanced.
All staff are highly capable in their roles and the workflows are well defined which allows the owner to focus on high level work and business development.
The client portfolio is demographically solid and secure with most clients having been with the practice for 3-10 years. The practice sees very little attrition. Clients appreciate the value the practice provides and often provide new client referrals. There are no client concentrations or overly large clients in the client base.
The practice has established efficient workflows that ensure quality work and deadlines being met. Cloud platforms, along with practice management software, provide the owner critical insights into the practice while also providing clients with excellent value and great client experience.
Systems are modern, secure, and well-integrated. The practice has proven their ability to work from anywhere. The owner has leveraged technology to set the practice up for ongoing future growth. Key to this practice is its ability to readily move to a full cloud format. While the practice currently operates in part through a local office presence, the bulk of their work is completed remotely, and the bulk of their clients are serviced remotely. The Buyer can continue to leverage the benefits of both the local presence and the cloud functionality of the practice, or the Buyer can look towards full cloud operation.
The office is very well located in one of Niagara Region’s fastest growing areas. Prominent signage provides excellent exposure. The office is modern and chic. The office is easily accessed locally and by major routes, including cross border routes.
The owner has identified key opportunities for ongoing future growth:
- Additional Services: The practice currently provides a well rounded compliment of the most in-demand services, however there is opportunity for a Buyer to bring in additional complementing service lines. The owner has noted strong demand for advisory services, fractional CFO services, cash flow planning, and financial forecasting.
- Expansion of Existing Services: Volume alone has created tremendous growth of all existing services, however the practice has seen significant interest and growth cross-border tax. The practice has key referral partners and arrangements that channel considerable client referrals into the practice. The owner has focused on this service niche, establishing the practice as an expert provider in this field. Unlimited growth is available through a proven network of referral sources – a Buyer with interest and capability in cross border tax will certainly have excellent growth opportunity ahead.
- Marketing: The practice has applied some strategic and effective marketing to help fuel growth. A blend of tools include online initiatives, an active/interactive website, regular blog spots for SEO, organizational partnering, and direct community involvement. All of these tools independently and collectively have proven effective for attracting and closing new business – a growth-minded Buyer could readily ramp any or all of these, and even add in additional marketing tools to increase the growth rate even further.
This is a well built, high-growth practice with an abundance of future growth ahead. If you feel this could be the fit for you, do not delay in following up!
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