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This is an entirely remote tax, accounting and outsourced CFO practice. All clients are on a monthly recurring revenue subscription. The fee's range from $1,250 to $9,000 per month. Total annual revenue is about $732,000.
There are two owners in the firm. One works mostly during tax season. The other works 20-30 hours per week as the acting CFO for the clients who have those services. We have one full time employee, one half time contractor and we use BotKeeper for a large chunk of the bookkeeping work. We highly leverage technology to keep hours for actual employees as low as possible.
Of the $730k revenue over $500,000 is taken out by owners, so it is an extremely high profit margin.
The client base consists of online based content creators, online coaches and a few ecommerce sellers. We work with some of the biggest names in the industry and have seen exponential growth since starting in 2018. No work is done in person, everything is remote. The clients are all incredibly sticky as we handle all aspects of their finances. At this point we aren't taking new clients simply because we don't have the capacity and don't want to hire more employees.
Owners are looking to get into other ventures outside of accounting and are interested in hearing offers. Owner who works day to day willing to discuss staying on in a transitional role.