|REF||STATE||LOCATION||ANNUAL GROSS $||STATUS||PRIVATE SALE / BROKER|
|3700||OH||Ohio||$328,760||sold||Poe Group Advisors|
This is a well established CPA firm with consistent 65% + cash flow to owner, a loyal client base and independent, trustworthy staff in a growing city. This is a straightforward tax practice that comprises 80% of individual and business tax returns. The remainder of the work is a combination of bookkeeping, 1 agreed upon procedure, and 1 review. After June 1st, the workload drops considerably allowing for time off and ample flexibility. Firm boasts a very desirable portfolio and is selective in their clients. Demand for accounting services continues to grow in the area. Often turning away new clients due to capacity, this practice is perfect for a growth minded entrepreneur.
The long-term staff prepare all of the individual returns while the owner focuses on business returns. They are very conscientious and dedicated with many having worked at the firm for over 10 years. The staff only work during tax season. The office environment is relaxed and friendly. Owner previously worked at one of the Big 4. Employees are highly capable, able to independently manage their tasks, responsibilities and build proven relationships with clients. A buyer looking for an independent team will definitely want to consider this opportunity. Owner owns the building and is open to selling to an interested buyer. This is a very reputable, straightforward practice that is known for being responsive and for providing quality service. Very little marketing has been done over the past 10 years. This is a great opportunity for a new owner to quickly expand client base and services.
The ideal buyer will be a CPA or CPA firm with accounting experience along with tax knowledge and general business knowledge. The ability to manage people and strong accounting background would be ideal for this practice. This would be great for a buyer with an existing practice looking for an opportunity to grow with this quality client list. This could also be a great starter firm for someone able to provide personable service that the clients are accustomed to. Buyer will want to have experience managing a small, capable staff.
Buyer should have the capacity to put in more hours during tax season and low hours during summer months. The buyer will appreciate the solid client base, strong reputation and independent staff. This is an excellent opportunity for someone who wants to take this firm to the next level or for someone who has capacity to easily expand its client base. The buyer will value the client portfolio and will be an ambitious CPA with a minimum of 5-7 years of public practice experience. Business experience could be useful for growing this firm.