|REF||STATE||LOCATION||ANNUAL GROSS $||STATUS||PRIVATE SALE / BROKER|
|3798||SC||South Carolina||$615,000||sold||Poe Group Advisors|
This firm is a very reputable accounting practice with excellent, long-term clients. Engagements include individual tax, business taxes, bookkeeping and consulting. Cash flow to owner is consistently over 70%. This firm has seen exceptional profit growth over the years. This practice boasts independent and experienced staff that maintains strong client relationships. They are a cohesive, trained team of professionals.
Client referrals constantly bring in new clients with no marketing. The office is in a great location on a busy street so there is great visibility and the building is easy to access with ample parking. They are in a variety of different industries and professions, including construction, service, and retail. Clients are billed though a mix of retainers, monthly billings and at the time of service. Clients always pay on time so the firm maintains a low accounts receivable and has annual price increases. Only ideal clients are retained to maintain efficiency and profitability. Cloud based systems allow the team to be efficient and timely. A buyer with an entrepreneurial spirit and excess capacity could quickly grow this firm.
Buyer must be forward-thinking, open-minded, and enthusiastic about running a company. A buyer with an entrepreneurial spirit and excess capacity could easily take on more clients and grow the firm. There is an opportunity to add more advisory services with the current client base, which would increase revenues. The clients of this firm like the personalized service and laid-back culture of this practice. An owner with good tax, financial statement review, and QuickBooks experience could handle the technical demands.
Buyer should have bookkeeping and tax planning experience. The ability to create great relationships with staff and clients will be important. Experience managing staff is preferred. The ideal buyer will be a similar firm that wants to get to that next level or one that just wants to expand into this market.