Listing ID: 83874
Business Overview
CPA Tax and Accounting Practice FOR SALE
Our Listing # MN 1112
Geographic Location: Minneapolis MN Metro area
Practice Details: Retiring CPA owner seeking qualified buyer for this very profitable CPA practice.
This firm has been in business over 30 years with an excellent area reputation and loyal client base.
Annual Revenue: Growing Revenue Stream with 2020 at $834,000
.
Revenue Breakdown:
45% personal and business tax preparation
55% quarterly accounting services
Owner Cash Flow: Averaging over 60% of Annual Revenue
Facilities: Office Building in excellent location.
Multiple Offices
Reception Area
Lease is assumable.
Furniture and Equipment: All office furniture, computers, printers, file cabinets etc. included in the selling price.
Staff: The owner and staff will be available for transition support to optimize the client retention.
Software: Quick Books, Fixed Assets CS, Thompson Rueters CS, Ultra Tax
For more information about this opportunity contact: Willow Whitney willow@accountingfirmsold.com
Phone (414) 962-7773
Fax (920) 355 0175
Financial
- Asking Price: $834,000
- Cash Flow: $500,400
- Gross Revenue: $834,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
All office furniture, computers, printers, file cabinets etc. included in the selling price.
The owner and staff will be available for transition support to optimize the client retention.
Retiring
Additional Info
The real estate is leased by the company for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals choose to sell companies. Nevertheless, the genuine reason vs the one they tell you might be 2 totally different things. As an example, they may say "I have a lot of various obligations" or "I am retiring". For many sellers, these reasons are valid. However, for some, these might simply be justifications to try to conceal the reality of changing demographics, increased competition, current reduction in earnings, or a variety of other reasons. This is why it is extremely important that you not rely totally on a seller's word, however rather, utilize the vendor's answer together with your overall due diligence. This will paint an extra practical picture of the business's present situation.
Existing Debts and Future Obligations
If the current business is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Lots of businesses borrow money in order to cover points like inventory, payroll, accounts payable, so on and so forth. Keep in mind that sometimes this can indicate that earnings margins are too tight. Lots of companies come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may additionally be future obligations to consider. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with vendors that should be satisfied or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the location attract new customers? Often times, operating businesses have repeat clients, which develop the core of their daily revenues. Certain elements such as new competitors sprouting up around the area, roadway construction, and employee turn over can influence repeat customers and also negatively impact future profits. One crucial point to take into consideration is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business on a regular basis, the higher the opportunity to construct a returning client base. A last idea is the general area demographics. Is the business located in a densely inhabited city, or is it located on the outskirts of town? Just how might the neighborhood typical house earnings influence future income potential?
