Listing ID: 83878
Geographic Location: SE Virginia
Listing #: VA 2061
Practice Details: Located in SE Virginia. Well established CPA Tax and Accounting Firm in business over 25 years. This multi-location practice has a nicely balanced revenue stream with excellent area reputations and multiple loyal client bases. Owners ready to sell and willing to provide extended transition support to optimize the client retention for the new owner.
Annual Revenue: $2,000,000
20% Monthly and Quarterly Accounting
55% Business and Personal Tax Prep
10% Payroll Services
10% Audit Services
5% Other Services
Facilities: Prime locations with multiple Offices, Reception Areas, Conference Rooms plus Storage Areas. Leases are negotiable.
Furniture and Equipment: Multiple offices fully equipped with all office furniture and all other equipment, networked computers, monitors, copiers, printers etc. included in the selling price.
Staff: The experienced and knowledgeable staff members will stay on with new owner plus the current owners will be available to provide Tax Season support and other transition support to optimize client retention.
Software: Accounting: Thompson Reuters CS Tax: Ultra Tax
Financing: Owner will consider Seller Financing and Revenue Guarantees.
- Asking Price: $2,000,000
- Cash Flow: N/A
- Gross Revenue: $2,000,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
Multiple offices fully equipped with all office furniture and all other equipment, networked computers, monitors, copiers, printers etc. included in the selling price.
Owners willing to provide extended transition support to optimize the client retention for the new owner.
The building is leased by the business for $0.00
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell businesses. However, the genuine reason vs the one they say to you may be 2 absolutely different things. For instance, they may claim "I have too many other responsibilities" or "I am retiring". For many sellers, these reasons are valid. However, for some, these might simply be excuses to try to conceal the reality of transforming demographics, increased competition, recent decrease in revenues, or a variety of various other factors. This is why it is extremely vital that you not count entirely on a seller's word, however rather, make use of the seller's response along with your general due diligence. This will paint a much more practical picture of the business's present situation.
Existing Debts and Future Obligations
If the current business is in debt, which lots of companies are, then you will certainly have reason to consider this when valuating/preparing your offer. Many operating businesses finance loans so as to cover points such as supplies, payroll, accounts payable, and so on. Remember that in some cases this can mean that revenue margins are too thin. Numerous organisations come under a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future obligations to think about. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with suppliers that should be fulfilled or might lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do companies in the area bring in new customers? Many times, businesses have repeat consumers, which create the core of their daily earnings. Particular variables such as brand-new competitors growing up around the location, road building, and also staff turn over can impact repeat clients and also negatively affect future profits. One important thing to take into consideration is the area of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Undoubtedly, the more people that see the business regularly, the higher the chance to construct a returning consumer base. A last idea is the general location demographics. Is the business located in a largely populated city, or is it located on the outskirts of town? Exactly how might the regional mean home earnings impact future earnings potential?