Established for 14 years, this is a solid bookkeeping service with approximately 30 clients. The services offered include full-service bookkeeping, accounting system design, new business setup, city and State tax filing, payroll service, financial reporting, accounts receivable, and accounts payable. The sellers are not CPAs and do not prepare federal income tax returns for clients. Most of the clients have been with the company for many years, ranging from retail and service businesses to online and software companies. The business is run out of the sellers' personal residence as a husband-and-wife team with no employees. The husband works approximately 8 hours a day Mondays through Fridays running all aspects of the business, and the wife works approximately 4 hours a day Mondays through Fridays doing manual data entry. All the bookkeeping work is done remotely, so the sellers do not work at the client's business locations. This is a wonderful opportunity for someone with bookkeeping, QuickBooks, and payroll experience to take over 30 clients and grow the company to the next level.
The business is home-based and can be run out of any location. The sellers visit the clients on a rotation schedule to maintain the relationship, so it would be helpful if the buyer lives in or near King County, WA. Three computers and one printer are included in the sale.
Competition / Market Pros & Cons
This is a well-established business that is based on a history of quality work and excellent customer service. The clients are loyal and most of them have been with the company for many years. The bookkeeping and accounting industry tends to be more recession-proof since businesses need to keep accurate books regardless of the economy. With the right personality and attention to detail, the buyer can take over the 30 clients and further grow the business.
Growth and Expansion Pros & Cons
Due to the sellers' personal preference of not wanting employees, much of the bookkeeping work is being subcontracted out to 3 independent bookkeeping contractors. The buyer could reduce expenses by hiring an employee in-house. In addition, the sellers have spent very little effort on marketing. A buyer with fresh energy could obtain more clients and take revenues to the next level.
Support / Training Available
Sellers are willing to work with the buyer to create a smooth transition.