About This Practice
This is a full-service CPA firm with continuing growth and exceptional profitability. Client engagements include compilations and corporate tax, bookkeeping, some payroll, and some review and audit. Personal tax is generally connected with businesses.
The firm has been maintaining steady growth, with over 50% of its revenue from clients in the health-related industry. Client industries include professionals (dentistry, medicine, optometry, chiropractic, physiotherapy), financial (insurance, real estate broker, insurance broker), investment, manufacturing, optical, pharmacy, and other service-related companies. Basically, a recession-proof group of businesses including many high net worth clients and families. Cash flow to owner is an exceptional 80%.
Client relationships are the key to this practice. Business experience is important as is a willingness to effectively listen to a client in order to properly service them. The clients are busy people who want to know that someone is looking after them. The firm has a reputation for quality service and responsiveness. Clients continue to refer within their respective connections and industries.
The office is an efficient workplace with a friendly atmosphere. Solid procedures allow work to flow smoothly. The owner delegates to staff who are able to work independently. The office has standard business hours, but employee schedules are flexible for life circumstances.
The office is in Markham, but the buyer’s location is flexible within the GTA.
The ideal buyer will be a Licensed Public Accountant with several years of public accounting experience and strong general business knowledge. They will be experienced with owner-managed businesses and the requisite tax planning that is part of serving this clientele.
Good interpersonal skills are a must as well as the ability to adapt to client style and level of sophistication. The buyer must be able to maintain staff and an efficient workflow.
There are numerous opportunities for the right buyer to capitalize on the growing client list and services – particularly in the practice’s niche markets. This is a great opportunity for an existing firm to add quality clients or for an individual to acquire a very profitable practice.
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