Business Overview

Established in 2003, this King County tax and accounting firm is highly respected in the community and prides itself on providing top-notch personalized customer service. The Practice’s service by revenue breakdown is 68% Tax Services, 26% Accounting Services, 3% General and 3% Consulting Services. As of September 2021, the Practice has approximately 804 active clients and four dedicated staff. Over the past three (3) years, the Practice has averaged gross revenue of approximately $979,355 (2019-2021). Additionally, the Practice has experienced year-over-year (YoY) growth each of the last three years! The Owner is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for one to two tax seasons to ensure the new owner’s return on investment is realized. With impressive revenues, stellar SDE, and YOY growth, this is one opportunity you don’t want to miss. If interested, call us at 253.509.9224 or, send an email to info@privatepracticetransitions.com, with “1174 Successful King County Tax and Accounting Firm” in the subject line.

Financial

  • Asking Price: $1,575,000
  • Cash Flow: N/A
  • Gross Revenue: $987,155
  • EBITDA: $450,202
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 2003

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,793
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

The Owner is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for one to two tax seasons to ensure the new owner’s return on investment is realized.

Additional Info

The venture was started in 2003, making the business 19 years old.

The business has 5 employees and is situated in a building with approx. square footage of 1,793 sq ft.
The real estate is leased by the company for $5,042.81 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals decide to sell operating businesses. Nevertheless, the real factor and the one they say to you might be 2 entirely different things. For instance, they might state "I have too many various responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. But, for some, these might simply be justifications to attempt to hide the reality of changing demographics, increased competition, recent reduction in earnings, or a range of other factors. This is why it is really essential that you not count entirely on a seller's word, yet rather, make use of the vendor's answer along with your overall due diligence. This will repaint an extra realistic image of the business's current circumstance.

Existing Debts and Future Obligations

If the existing entity is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies finance loans in order to cover points like stock, payroll, accounts payable, etc. Keep in mind that occasionally this can indicate that profit margins are too thin. Many businesses fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that need to be satisfied or may result in charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do businesses in the location draw in brand-new consumers? Many times, companies have repeat clients, which develop the core of their daily revenues. Specific elements such as new competitors sprouting up around the location, roadway construction, and also staff turnover can influence repeat clients and also negatively affect future incomes. One important point to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Obviously, the more individuals that see the business on a regular basis, the higher the possibility to build a returning customer base. A final idea is the basic area demographics. Is the business located in a largely populated city, or is it situated on the outside border of town? How might the regional median house earnings influence future revenue potential?