Business Overview

Established in 1979, this Washington tax and accounting firm is highly respected in the greater Kitsap County community. The Practice has developed good long-standing relationships with local law firms that have proven to be terrific referral sources. The Practice’s service by revenue breakdown is 80% Tax Preparation and Planning, and 20% Accounting and Bookkeeping. In 2021, the Practice brought in approximately $820K in gross receipts. The Practice has nine loyal staff members proudly serving its 1,222 active clients. 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 dedicated staff and?proven YoY growth, this is one opportunity you don’t want to miss.

Financial

  • Asking Price: $650,000
  • Cash Flow: N/A
  • Gross Revenue: $781,327
  • EBITDA: $94,990
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1979

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:2,772
  • Lot Size:N/A
  • Total Number of Employees:9
  • 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 founded in 1979, making the business 43 years old.

The company has 9 employees and is located in a building with disclosed square footage of 2,772 sq ft.
The property is leased by the business for $3,234 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why individuals choose to sell companies. Nonetheless, the genuine factor and the one they tell you might be 2 completely different things. As an example, they might state "I have too many other responsibilities" or "I am retiring". For lots of sellers, these factors are valid. But also, for some, these may just be reasons to attempt to conceal the reality of altering demographics, increased competitors, current reduction in incomes, or a range of various other factors. This is why it is extremely vital that you not rely absolutely on a seller's word, but instead, utilize the seller's solution together with your total due diligence. This will paint an extra practical picture of the business's current situation.

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 deal. Numerous companies finance loans with the purpose of covering things such as stock, payroll, accounts payable, so on and so forth. Bear in mind that in some cases this can mean that profit margins are too tight. Lots of businesses come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future obligations to think about. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that have to be fulfilled or may cause charges if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Just how do businesses in the area draw in new consumers? Most times, companies have repeat clients, which develop the core of their everyday profits. Specific elements such as brand-new competitors growing up around the area, road building, and also personnel turnover can influence repeat clients and also adversely impact future profits. One important point to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the higher the opportunity to construct a returning client base. A last idea is the general location demographics. Is the business located in a largely populated city, or is it situated on the outskirts of town? Just how might the regional mean household earnings influence future revenue prospects?