Business Overview

Excellent opportunity to own a almost 30 year established full-service accounting practice in Westchester, NY. Well-known for its integrity, service, and reputation for going above and beyond for each client. Annual revenues are stable. Revenue streams comprised of tax return preparation, bookkeeping, and payroll services. Strong staff in place, including office support staff. All cloud-based software with client portal. Excellent reputation with long term repeat clients.
Services is estimated to generate $213000 in annual revenues, and employs approximately 2 people.

Financial

  • Asking Price: $175,000
  • Cash Flow: $80,000
  • Gross Revenue: $213,000
  • EBITDA: N/A
  • FF&E: $20,000
  • Inventory: N/A
  • Inventory Included: Yes
  • Established: 1995

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:2
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

TBD

Purpose For Selling:

Retiring

Additional Info

The business was founded in 1995, making the business 27 years old.

The company has 2 employees and is located in a building with approx. square footage of N/A sq ft.
The real estate is leased by the business for $3,000 per Month

Why is the Current Owner Selling The Business?

There are all sorts of reasons why people resolve to sell businesses. However, the real reason and the one they say to you may be 2 absolutely different things. For instance, they may say "I have too many other responsibilities" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these might just be justifications to try to conceal the reality of changing demographics, increased competitors, recent decrease in earnings, or a range of various other reasons. This is why it is extremely important that you not depend completely on a vendor's word, but instead, use the seller's answer along with your general due diligence. This will paint a much more realistic image of the business's current circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which lots of businesses are, then you will have reason to consider this when valuating/preparing your offer. Numerous operating businesses borrow money with the purpose of covering points like stock, payroll, accounts payable, and so on. Bear in mind that sometimes this can imply that revenue margins are too thin. Many companies fall into a revolving door of taking on debt as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that have to be fulfilled or might lead to charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do operating businesses in the location attract new consumers? Often times, operating businesses have repeat customers, which create the core of their everyday revenues. Specific aspects such as new competition sprouting up around the area, roadway construction, and personnel turn over can affect repeat clients as well as adversely affect future revenues. One essential point to consider is the area of the business. Is it in an extremely trafficked shopping center, 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 consumer base. A final idea is the general location demographics. Is the business placed in a densely inhabited city, or is it situated on the edge of town? Just how might the neighborhood mean household income effect future income prospects?