Listing ID: 83870
Business Overview
Practice Details:
This well-established CPA practice for sale produces gross revenues of approximately $540,000, balanced between tax (65%), accounting (14%), payroll (17%), and consulting (4%) to provide year-round income.
Ideally located in an area known for a high-quality life, this reputable practice serves a loyal client base that should generate referrals and expand service opportunities. It has a solid fee structure and produces cash flow to the owner of more than $182,500 —year-over-year growth.
This turn-key practice is primed for a new owner, a smooth transition, and continued growth. It would be the perfect size for an experienced individual CPA or EA ready to jump into practice ownership or would make a profitable addition to another established firm looking to expand in this market
Clients:
Real Estate, Restaurants, Retail Establishments, Small Manufacturing, Farming and Medical, and Other Professional Services.
Average Bill Rate: $165/hr
Facilities:
Attractive office on the main street. First-floor office spaces with a reception and conference room. Parking. Convenient to business clients and local restaurants. Favorable lease terms.
Software: Drake and QB
Staff: Owner + four. Very competent staff will stay on after the sale.
Owner will stay on as long as needed to facilitate a smooth transition
Financial
- Asking Price: N/A
- Cash Flow: $182,500
- Gross Revenue: $540,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
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:5
- Furniture, Fixtures and Equipment:N/A
Attractive office on the main street. First-floor office spaces with a reception and conference room. Parking. Convenient to business clients and local restaurants. Favorable lease terms.
Owner will stay on as long as needed to facilitate a smooth transition.
Additional Info
The business has 5 employees and is located in a building with disclosed square footage of N/A sq ft.
The building is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell operating businesses. Nonetheless, the true factor and the one they say to you might be 2 totally different things. For instance, they may state "I have way too many various commitments" or "I am retiring". For many sellers, these factors stand. But, for some, these may simply be excuses to try to conceal the reality of altering demographics, increased competition, recent decrease in revenues, or a variety of other reasons. This is why it is really essential that you not count completely on a seller's word, however rather, utilize the seller's solution together with your general due diligence. This will paint a much more reasonable image of the business's present situation.
Existing Debts and Future Obligations
If the existing company is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous companies borrow money in order to cover things such as inventory, payroll, accounts payable, and so on. Keep in mind that sometimes this can indicate that profit margins are too thin. Numerous businesses come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise 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 contracts with vendors that need to be satisfied or might lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location draw in brand-new consumers? Often times, companies have repeat consumers, which develop the core of their everyday profits. Certain factors such as brand-new competitors sprouting up around the location, roadway construction, and staff turnover can influence repeat customers and negatively impact future profits. One essential thing to consider is the placement of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Obviously, the more people that see the business regularly, the greater the opportunity to build a returning customer base. A final thought is the basic location demographics. Is the business located in a largely populated city, or is it located on the edge of town? How might the local average house earnings influence future revenue potential?
