This is a longstanding and well-regarded accounting practice providing the most in-demand services to a diverse and loyal client base. Reviews are consistently 5-star, indicating the quality of work and the level of client satisfaction the practice is known for.
Growth: The practice has taken in strong year-over-year growth; between the 3 years 2023-2025 the average yearly growth rate is ~29%. Much opportunity exists for a Buyer to continue this growth trend – see the ‘Opportunities’ section below.
Service Mix: A well-rounded set of in-demand services draws in many clients; services include corporate & business tax, personal tax (many associated), tax advisory/consulting, bookkeeping/minor payroll, and minor other work. Currently operating as an accounting practice, much opportunity exists for a CPA Buyer who can bring in additional services.
Reputation: The practice has earned an excellent reputation; clients and industry colleagues provide regular referrals, and the practice takes in many new client inquiries based on word-of-mouth.
Owner Hours: Owner hours are very reasonable at ~1,800 hours/year. Approximately 75% of the owner’s hours are spent working ‘in’ the business and ~25% working ‘on’ the business. A growth minded Buyer has good opportunity to leverage available time to continue the business development of the practice, or enjoy a desirable work/life balance.
Management Style: The practice delivers professional work in an informal way. The personable nature of the practice has attracted and maintained a consistently growing client portfolio. Staff are valued, which in turn has helped retain many longer-term employees. The owner’s focus is on final review, staff support, and business development.
Staff: The owner has built a strong team of dedicated, reliable, and capable staff. The practice has CPA designated employees onboard. Most staff are client-facing. Staff work with little supervision, and equally well as a team – all enjoy and contribute to a great team culture. All staff have current contracts which include non-solicits.
Clients: Clients are loyal and long-term. The client portfolio is industry-diverse with negligible client revenue coming from any risk industries. There are no concentrations in the client base.
Operations: Operations are streamlined; workflows are well-defined. Staff understand their roles and responsibilities. The practice has implemented strategic initiatives and roles to foster and support ongoing growth and development. Staff work in a hybrid format of in-office and work-from-home; the practice is capable of remote work. Most clients are serviced remotely.
Technology: The practice utilizes industry-standard platforms and software including QBO, Wagepoint, Taxprep, Profile, Financial Cents, Jot Form, Ignition, and MS Suite. The practice uses a contracted IT provider to ensure security and data management remain current and compliant.
Billing: The practice uses a combination of invoicing and subscription-based billing. Clients pay on time. Non-current AR is minimal.
Opportunities: The owner has continued to grow the practice and has identified key ongoing future growth opportunities including:
- Additional Services. A Buyer able to expand the services offered will be able to take advantage of the available demand. The practice has not pursued the in-demand work available for compilations, specialty tax consulting, fractional CFO, assurance work, financial planning, etc.
- Expand Current Services. Capacity has limited recent growth; additional capacity would provide ability to take in strong demand for existing services including bookkeeping (excellent lead-in service), and corporate tax.
- Marketing. The practice has implemented high ROI marketing and business development strategies; continuation of these, along with additional marketing are strong options for growth-minded Buyers.
- Expand on Virtual Service. While much of the client base is already serviced remotely, further development of the cloud service model is highly viable.
- Capacity. Current capacity is limiting the ability to take on the available work. Hiring or utilizing a Buyer’s existing capacity will allow intake of waiting new business. As the practice expands, additional roles and role development will support the strong future growth opportunities.
- Technology. Integration of emerging technology will continue to bring additional efficiencies and value-adding options to the practice.
Description of Facilities: The office is modern, bright, and ideal as a professional accounting workplace – both for staff and local clients. The office is part of an attractive multi-use building (professional & retail), offering ground floor convenience and abundant free parking.
Location: The office is located on an active street in the heart of the commercial core, readily accessed by main connecting routes. Excellent market and growth opportunities exist locally, regionally, and virtually.
Reason for Selling: Retirement
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