Business Overview

Established in 1985, this south King County tax and accounting firm has become well-known for its integrity, service, and reputation for going above and beyond for each client. The Practice’s service by revenue breakdown is 59% Tax, 24% Controller Services, 13% Bookkeeping, 2% Financial, and 2% Other. As of November 2021, the Practice has approximately 413 active clients comprised of ~80% individuals and ~20% businesses. Over the past three years (2018-2020), the Practice has averaged gross revenue of approximately $475,000. The Practice employs three (3) full-time employees and two (2) part-time/seasonal employees, including the Owner, who is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed upon period up to one (1) year, if desired. The Practice is stable, profitable, and poised for growth under new ownership. To take the next step towards this exciting business opportunity, call us at 253.509.9224 or, send an email to info@privatepracticetransitions.com, with “1180 Profitable South King County Tax and Accounting Practice for Sale” in the subject line.

Financial

  • Asking Price: $550,000
  • Cash Flow: N/A
  • Gross Revenue: $445,538
  • EBITDA: $127,230
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1985

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,918
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

Owner, who is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed upon period up to one (1) year, if desired

Additional Info

The business was started in 1985, making the business 37 years old.

The company has 5 employees and is located in a building with approx. square footage of 1,918 sq ft.
The property is leased by the company for $2,369 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons people decide to sell businesses. Nevertheless, the genuine factor vs the one they tell you may be 2 totally different things. For instance, they might claim "I have way too many other commitments" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might simply be excuses to attempt to conceal the reality of changing demographics, increased competitors, current decrease in revenues, or an array of various other factors. This is why it is extremely essential that you not rely completely on a vendor's word, however rather, utilize the vendor's response in conjunction with your general due diligence. This will paint a more realistic image of the business's present scenario.

Existing Debts and Future Obligations

If the existing business is in debt, which numerous businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Lots of companies borrow money with the purpose of covering things such as inventory, payroll, accounts payable, and so on. Remember that occasionally this can indicate that revenue margins are too small. Numerous companies come under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to take into consideration. There may be an outstanding lease on tools or the structure where the business resides. The business may have existing contracts with suppliers that need to be satisfied or may cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the location draw in brand-new customers? Many times, operating businesses have repeat clients, which develop the core of their day-to-day profits. Particular aspects such as brand-new competitors sprouting up around the location, roadway construction, and staff turn over can impact repeat consumers and also negatively influence future profits. One essential thing to think about is the placement of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Certainly, the more individuals that see the business regularly, the higher the chance to construct a returning consumer base. A final thought is the basic area demographics. Is the business situated in a densely populated city, or is it situated on the outside border of town? Just how might the regional average home earnings impact future revenue potential?