PENNSYLVANIA

Quakertown, Pennsylvania Practice Fact Sheet
Supplied by New Clients, Inc.

Total Gross Income:
$1,134,344

Net Profit:
$225,000 (including owner add backs)

Purchase Price:
$1.1 million – Financing available to qualified applicants. Various programs available. Call for details.

Year Established:
1976

Accounting, bookkeeping, Compilations:
Various Write up Clients: 15 Avg Fee: 3,071.60 Total: $46,074
Income Tax:
Individuals: 790 Avg Fee: $ 489.71 Total: $ 386,868;
Businesses: 84 Avg Fee: $1,627.95 Total: $ 136,748;
Other: 79 Avg Fee: $ 951.77 Total: $ 75,190
(Trusts, estates, non-profits)
Audits, Reviews
Audits: Mostly small government & non profits Total: $ 399,131;
Reviews Total: $ 34,045;
Compilations Total: $ 56,288.
Full-time Employees:
7

Part-time Employees:
3

Computer Software:
Thomson Reuters Programs (Ultra Tax, Fixed Assets, File Cabinet, Accounting CS, PPC Smart Practice Aids and Risk Assessment Software) Word, Excel and all versions of QuickBooks.

Description of Clientele:
We serve a wide variety of tax clients ranging from very basic to high wealth clients. We have clients located across the country from Florida, Hawaii, Washington State, Massachusetts, etc. The majority of our clients are located within an hour of our office location, however, many of them send in their information and do not come into the office. We also serve a large number of non-profit organizations and small governments. Our services are in high demand.

Description of Area:
The firm is centrally located between the major metropolitan areas pf Philadelphia, New York City and the Lehigh Valley. Bucks County, PA is a high wealth area and Upper Bucks County has retained a rural, small community feel while having access to major urban areas. The area boasts excellent school systems and quaint residential communities. We are the largest accounting firm located in Upper Bucks County.

Other Information:
Our services are in high demand but we only accept referrals from existing clients or trusted business contacts. We have not advertised in over 20 years (other than non-profit sponsorships in our community.) We have limited our growth due to staffing constraints and our unwillingness to over work our staff. Due to our inability to hire additional staff in the past year we recently released a couple of our larger clients yet we have maintained the same level of billings. With proper staffing the firm could easily take on more clients and make more money.

We have developed a very strong niche market in performing audit engagements for small governments and non-profits. Many small firms no longer conduct audits, larger firms tend to not be interested in serving smaller clients and this strong revenue stream enables us to be a year round, full service accounting firm and to retain excellent staff year round.

Seller is requesting the following additional information from buyer:
Confidentiality Agreement
Financial Statement
Once the above items are provided to NCI, I will arrange a mutually convenient time to view this practice. Any questions, please call.