Listing ID: 83885
CPA Tax and Accounting Practice for Sale
Geographic Location: CENTRAL OHIO
Listing # OH 2083
Practice Details: Very profitable practice in business over 60 years near a growing Metro area. Owners have excellent reputation and have built the leading accounting and consulting practice in their area. Nicely balanced mix of business and excellent cash flow.
Annual Revenue: 2020: $1060,000
Owners Cash Flow: 2020: 550,000
Individual and Business Tax : $767,000
Write-Up/Accounting: $216,000 Other: $77,000
Owner billing rate: $200/Hour Staff rate: $100/Hour
Facilities: 28 miles from Major Metro Area in the business district of a small town. 5 Offices with Reception area. Assumable lease.
Furniture and equipment: All computers, phone system, furniture, cabinets other equipment and software included in price.
Staff: 4 full time CPA’s. 2 part time and 2 seasonal employees
Software: CCH ProSystem, Ultra Tax, Asset Keeper, Value Source
ASKING PRICE– $1,159.000
For more information about this opportunity please contact:
Willow Whitney at: email@example.com
Or Phone: (414 962 7773) Fax: 414 962 6333
- Asking Price: $1,159,000
- Cash Flow: $550,000
- Gross Revenue: $1,060,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:8
- Furniture, Fixtures and Equipment:N/A
28 miles from Major Metro Area in the business district of a small town. 5 Offices with Reception area. Assumable lease.
The business has 8 employees and is situated in a building with approx. square footage of N/A sq ft.
The building is leased by the business for $0.00
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. Nonetheless, the real factor and the one they say to you may be 2 totally different things. As an example, they might claim "I have way too many various responsibilities" or "I am retiring". For lots of sellers, these reasons stand. But also, for some, these might just be justifications to try to conceal the reality of changing demographics, increased competition, recent reduction in revenues, or an array of other reasons. This is why it is really crucial that you not depend totally on a vendor's word, however instead, use the seller's response along with your general due diligence. This will paint a much more realistic picture of the business's present scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will certainly have reason to consider this when valuating/preparing your offer. Numerous operating businesses finance loans so as to cover things such as inventory, payroll, accounts payable, etc. Keep in mind that sometimes this can imply that earnings margins are too tight. Many organisations fall under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may also be future commitments to take into consideration. There might be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with vendors that need to be fulfilled or might lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the area bring in new customers? Most times, companies have repeat clients, which form the core of their daily profits. Specific aspects such as new competitors sprouting up around the area, roadway building, as well as employee turnover can impact repeat clients as well as adversely influence future revenues. One vital thing to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the main road? Obviously, the more individuals that see the business regularly, the higher the opportunity to build a returning client base. A last idea is the basic area demographics. Is the business situated in a densely populated city, or is it located on the outside border of town? Exactly how might the neighborhood average household income effect future income potential?