Listing ID: 80447

Business Overview

This is a great opportunity to take over an established tax service in Gilmer County.
The office has been growing at 25% per year.
The company has over 300 tax clients… with about 60 business accounts and 250 personal accounts.

Financial

  • Asking Price: $89,000
  • Cash Flow: $41,656
  • Gross Revenue: $74,787
  • EBITDA: N/A
  • FF&E: $7,000
  • Inventory: $1,000
  • Inventory Included: Yes
  • Established: 2014

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:1,650
  • Lot Size:N/A
  • Total Number of Employees:2
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

The company has an excellent location. It leases a very attractive stand-alone building with easy access and parking. It includes 3 large private offices, a large reception area with client seating, 2 bathrooms and a lower level that is not currently used. Great for future growth/expansion.

Is Support & Training Included:

Smooth transition will be included. Current owner is open to discussing staying with new owner on a part time basis.

Purpose For Selling:

Current owner is having health issues that are forcing a significant reduction i

Pros and Cons:

Other tax and accounting services are mostly franchised services. A professional tax/accounting office would be preferable for many potential clients… Especially business.

Opportunities and Growth:

Current owner has done little to grow /market or advertise the business. Growth has been based on the increased demand and growth in the County. Current owner’s pricing is low. The company does very little accounting or bookkeeping work… Offering these services would provide a substantial opportunity for a new owner with accounting experience. The marketing area in Gilmer County is experiencing very rapid growth. The availability of accounting/tax services is not keeping up.

Additional Info

The business was started in 2014, making the business 8 years old.
The sale will include inventory valued at $1,000, which is included in the asking price.

The business has 2 employees and is situated in a building with disclosed square footage of 1,650 sq ft.
The building is leased by the company for $1,000 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons why people decide to sell operating businesses. However, the genuine factor and the one they say to you may be 2 totally different things. For instance, they might state "I have way too many various obligations" or "I am retiring". For many sellers, these reasons are valid. But also, for some, these may just be reasons to try to conceal the reality of altering demographics, increased competition, recent reduction in profits, or a range of various other factors. This is why it is extremely essential that you not depend totally on a seller's word, yet rather, utilize the seller's solution combined with your overall due diligence. This will paint a more sensible picture of the business's present circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your deal. Many operating businesses finance loans so as to cover things such as supplies, payroll, accounts payable, etc. Remember that in some cases this can imply that earnings margins are too thin. Numerous companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that should be fulfilled or may lead to charges if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do operating businesses in the location attract brand-new clients? Often times, businesses have repeat customers, which create the core of their everyday profits. Certain elements such as new competition sprouting up around the location, roadway building and construction, and also employee turn over can affect repeat consumers as well as adversely influence future profits. One important point to think about is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Undoubtedly, the more individuals that see the business regularly, the greater the opportunity to develop a returning client base. A last idea is the general area demographics. Is the business situated in a densely inhabited city, or is it situated on the outskirts of town? Just how might the local average house income impact future income potential?