SOLD! This is a successful accounting and bookkeeping service that has been established for 21 years. The company does bookkeeping, payroll, tax consulting, and federal income tax return preparation. There are approximately 114 clients, many of whom have been using this accounting practice for many years. The year 2018 is unique because the accounting practice picked up a contract with a large client. The accounting firm has been taking over more and more work required by the large client gradually. Once all the tasks required by the large client have been taken over, it is estimated that the large client will contribute an additional $155,000 per year to the accounting firm’s revenues. Based on the seller’s comments, the projected annual revenues for the entire accounting practice once all the revenues from the large client are realized is $612,974. The staff consists of three full-time account managers and one part-time CPA. The owner does not do any accounting work on the clients. Instead, the owner’s role is marketing, sales, and management. Due to health issues, the owner is looking to relocate out of State. This is an exciting opportunity to take over a successful accounting practice and grow it to the next level.
The company leases a professional office space for $350 per month, which comes with access to a conference room and large training room. The furniture, fixtures, and equipment are well-maintained.
Competition / Market Pros & Cons
Having been established for 21 years, this is a well-known accounting practice in the community. The company has won awards recognizing its excellence. This is a well-systemized business that allows the owner to focus on marketing and management, and not do any accounting work.
Growth and Expansion Pros & Cons
The owner’s marketing efforts mainly consists of attending a networking meeting weekly for 90 minutes, and taking calls from it. A new owner with fresh energy and a focus on growth could market the business and grow the company to the next level.
Support / Training Available
Seller is willing to train. Details negotiable.
Reason for Selling
Health issues and relocating out of State.
Seller Will Provide?
Cash out offers only. Seller will not consider offers involving earn-outs or seller financing. Broker can assist Buyer with obtaining bank financing.