Business Overview

For over 29 years, this Clark County, Washington tax and accounting firm has offered a wide range of tax and accounting services to both business and individual clients. The Practice’s service by revenue breakdown is 58.8% Tax Prep and 42.8% Accounting. The Practice has experienced year-over-year growth each of the last two years with an incredible 19.6% increase from 2018-2019 and a 6.7% increase from 2019-2020 even amidst the pandemic. Of its ~548 active clients, it is estimated that 95% will remain with the Practice after transition to new ownership. Including the owners, the Practice has five experienced and dedicated staff members. The owners are willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period of up to one year to ensure the new owner’s return on investment is realized. To take advantage of this opportunity, call us at 253.509.9224 or, send an email to info@privatepracticetransitions.com, with “1166 Successful Tax and Accounting Firm in Sought-After Clark County, WA” in the subject line.

Financial

  • Asking Price: $225,000
  • Cash Flow: N/A
  • Gross Revenue: $371,993
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1992

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,428
  • Lot Size:N/A
  • Total Number of Employees:5
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

The owners are willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period up to one year to ensure the new owner’s return on investment is realized.

Additional Info

The company was started in 1992, making the business 30 years old.

The company has 5 employees and resides in a building with disclosed square footage of 1,428 sq ft.
The real estate is leased by the company for $1,832 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons individuals resolve to sell businesses. Nonetheless, the true factor and the one they say to you may be 2 absolutely different things. As an example, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these factors stand. But also, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competition, recent reduction in earnings, or a variety of various other factors. This is why it is extremely vital that you not rely absolutely on a vendor's word, yet instead, utilize the vendor's response combined with your general due diligence. This will paint an extra reasonable picture of the business's current circumstance.

Existing Debts and Future Obligations

If the current business is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your deal. Many operating businesses finance loans in order to cover items such as supplies, payroll, accounts payable, so on and so forth. Remember that sometimes this can suggest that profit margins are too tight. Numerous companies fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business may have existing agreements with vendors that must be met or might cause penalties if terminated early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location attract brand-new consumers? Often times, operating businesses have repeat clients, which develop the core of their day-to-day earnings. Certain factors such as brand-new competitors sprouting up around the location, road building, and employee turnover can impact repeat customers and adversely impact future incomes. One vital 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 highway? Undoubtedly, the more individuals that see the business on a regular basis, the greater the possibility to build a returning consumer base. A final thought is the basic area demographics. Is the business situated in a largely inhabited city, or is it situated on the edge of town? How might the local typical home income influence future income potential?