This is a well-established CPA/LPA practice ready for ongoing future growth.
Growth: The practice is full of growth opportunity, demonstrating a 3-year average year-over-year growth rate of approximately 17%.
Revenue/Projection: A conservative 2025 (December year-end) projection shows $3.7M trackable.
Services: A full service set includes compilations/corporate tax, reviews (~80), audits (~16), bookkeeping, and some special/other work (tax slips – T3, T4, T5, incorporations, tax reorganizations, estate planning, software billing, etc).
Reputation: The practice has earned an excellent reputation as evidenced by its continual growth. A very strong reputation in the transportation, real estate, and professional industries has fueled accelerated growth in these spaces, each a lucrative and profitable specialty.
Owner Hours/Operations: Owner hours are very reasonable at ~2,115 hours/year up to this point. The owner has staffed the practice to reduce owner hours. The practice has strong current and real-time-adjustable capacity to take on additional work and continue to reduce, or re-direct, the owner’s hours.
Staffing/Structure: The team is set up conventionally with high and mid-level managers overseeing the staff and general operations of the practice, and also reviewing completed files. Senior and junior accountants prepare files. Bookkeepers complete the clerical work and data entry. Administration staff handles the office tasks.
Staff are provided autonomy in their roles and are well supported by the managers and owner when needed.
Clients: Clients are long-term; there’s low attrition in the client base. Clients are pleased with the work of the practice and the service level of the staff. Referrals are common in general, and many referrals are generated from the transportation, real estate, and professional sectors specialties of the practice.
Opportunities: The owner has identified key opportunities for future growth:
- Additional Services: The practice offers a strong compliment of services currently, however there are options to layer in additional in-demand services. The Seller has noted interest in high-level tax planning/consulting, fractional controllership and CFO, re-organizations, and estate work.
- Expansion of Existing Services: There is strong demand for service in the transportation and real estate industries; these specific industries are challenged in finding quality accounting providers which makes these niche specialty services highly valuable for this practice. The practice’s staff are highly experienced and capable in each of these industries which readily makes the practice prepared to expand in these areas. Tax planning and consulting are currently provided by the practice, however additional revenue can also be generated from these services.
- Marketing: No marketing efforts have been applied over the life of the practice; all growth has been organic through referrals and word-of-mouth. Layering in some high ROI marketing approaches will take the practice’s already strong growth trajectory even higher. A growth-focused Buyer has great opportunity to further develop the practice through proactive marketing options.
Office: The office is very modern with a chic style. All spaces are brightly lit through all glass perimeter walls. The practice is in a modern and very attractive professional building. There is plenty of convenient on-site parking for staff and clients.
Location: The practice’s office is extremely well located in the centre of one of West GTA’s most commercially vibrant and accessible business areas. **The Seller will share their location in their introductory Buyer calls.
This is a fantastic opportunity for a business-savvy and entrepreneurial CPA/LPA who is looking to build from a well-established foundation.
***If you feel the fit and see the opportunity of this listing, do not delay in following up!
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