About This Practice
This is a well established owner operated practice focused on accounting and tax services for individuals and small corporations. Profitability is exceptionally high and consistent with 75% cash flow to owner. This firm boasts an exceedingly high retention rate with long term, affluent clients. 80% of clients have been with firm more than 5 years. Work is busy and hours are high during tax season but this practice boasts low owner hours outside of tax season. Client referrals constantly bring in new clients without marketing. A new owner could leverage the referrals and reputation to grow the client base in this high demand location.
The clients of this firm like the personalized service and laid-back culture of this practice. All clients pay on time so the firm maintains a low accounts receivable. Existing clients would like additional services including bookkeeping or advisory services, which would increase revenues. The current owner has been moving towards the cloud.
Ideal Buyer
This is an excellent opportunity for a buyer looking to move into their own practice and wanting to fast track to a strong client book. Individual tax experience and general business knowledge is required. A personable and professional demeanor will provide the client base with the familiarity of personal service. Clients appreciate high quality service and responsiveness. A buyer ideally should be able to help with some business advise and life cycle questions. A buyer with an entrepreneurial spirit could quickly grow this firm.
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