About This Practice
This long-established and distinguished CPA firm boasts a stellar reputation. TX2006 has exceptional service and an unwavering commitment to client success. This firm has cultivated a dedicated clientele nationwide who are willing to pay high fees and offer referrals. Service at the firm is unmatched thanks to the seasoned and independent 20+ person team! They are a loyal and hardworking group dedicated to client relationships and there has been very little employee turnover.
The firm boasts an impressive waitlist of over 300 eager clients, a testament to its sterling reputation. With recent investments in cutting-edge cloud systems, the groundwork has been laid for scalability, allowing the new owner to capitalize on the firm’s solid foundation. A buyer capable of leading a tech-savvy, entrepreneurial, and innovative firm will thrive here.
The firm’s services include 61% personal tax (no orphan 1040s), 21% business tax, 15% bookkeeping and 3% other. Average fees are $1,045 for personal and $1,574 for business. 2022 revenue was $3,218,750 and grew in 2023. The personnel at this firm exhibit unwavering dedication, independence, and a strong collaborative spirit. With one owner already semi-retired and the other transitioning careers, the stage is set for a new chapter of growth and prosperity.
Additionally, current clients are interested in additional bookkeeping and tax advisory services. There is unlimited upside!
Highlights:
- Low owner hours: only 1500!
- Vetted 300+ client waitlist ready to join the firm
- Over 20 independent and dedicated staff members, including several CPAs. Very low turnover!
- Fantastic clients, with a focus on a nationwide niche. All business clients.
- Annual price increases (2022 increase was 20% with a 99.8% retention rate)
- Buyer can be local or run remotely with the right skill set.
- 100% Paperless with industry leading tech stack
Ideal Buyer:
The ideal candidate for this opportunity should possess a minimum of 7 years of experience in tax, leadership, and management roles. A CPA and CFO experience is ideal. Strong communication and soft skills are critical as many of the clients are in the sales industry. Their clients appreciate their aggressive style for deductions and a buyer would want to continue that same philosophy. A buyer with a coaching and mentoring disposition will thrive with the team and these niche clients, ensuring continued success.
The owner’s primary focus is on managing the administrative and day-to-day operations of the firm. An owner needs to be a visionary, very tech savvy, and enjoy being the strategic implementer. A successful buyer will be a well-rounded business leader with the skills, temperament, and financial capital required to manage a high-growth business. The ideal buyer will also be forward-thinking, open-minded, and enthusiastic about running a very different kind of accounting practice.
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