This is a very well-structured full cycle bookkeeping practice with a strong track record of growth and excellent future opportunities ahead.
The practice has demonstrated a significant and increasing year-over-year growth trend with a 3-year average growth rate of ~26%/year and the most recent completed year (2024) at +45%.
The practice has focused on becoming a premiere provider for one specific service line – full cycle bookkeeping – and has earned an excellent reputation as an expert in this service focus.
While maintaining their client portfolio with a diversity of client industries, the practice has grown a specialization, and reputation, as an expert provider to legal professionals. The lucrative legal field continuously generates referrals from existing clients and industry associates along with new client inquiries.
Owner hours are low at ~1,560 hours/year. A Buyer has excellent ability to continue to grow the practice and apply their hours toward additional client work, and/or utilize available time toward further business development and growth. A Buyer who is looking to enjoy an excellent work/life balance can choose to maintain owner hours at this low level and scale the practice through team growth.
Staff are highly capable in their roles. All team members have a strong understanding of expectations and reliably deliver high quality work on time.
The client portfolio is exceptional in that it maintains a strong and healthy balance of client industry variety alongside a lucrative specialization in servicing the legal profession.
Operations are systematic and efficient. Workflows are well-established. Platforms are industry standard, with additional software and applications specific to the legal profession.
The owner has identified key opportunities for future growth:
Full Cloud Operation: While the practice currently maintains an office which is ideal as a headquarters, because the practice services their clients primarily remotely, and systems are built for full remote operation, a Buyer has the very feasible option of moving the practice to full cloud adding unlimited client market and hiring geography.
Expansion of Existing Services: The practice has focused on becoming a premiere provider for one specific service line – full cycle bookkeeping – and has earned an excellent reputation as an expert in this focus. A Buyer could readily leverage the practice’s expert reputation towards additional client growth in both the general small business market, and/or the specific market of the legal profession.
Marketing: To date the practice has grown solely on its excellent reputation, referrals, and word-of-mouth. A growth-minded Buyer could readily layer in some active marketing initiatives such as web and social marketing, and could easily put marketing efforts towards specific industry online groups and print publications that are common and well-known in the legal profession.
Additional Services: While the practice has maintained a sole focus of bookkeeping, a Buyer looking to expand on this specific service line could readily add in additional related services to round out a full-service line for existing and future clients. Bookkeeping is a key foundation and lead-in to build from to gain further revenues from additional service lines.
This is an exceptional opportunity to take on a proven turn-key practice with so many opportunities for ongoing growth and full cloud potential!
Do not delay in following up if you see your future ahead!
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