#5569 - Virtual - VIRTUAL

Summary: Offered for sale is a virtual ~$1,200,000+ book of business. This is not the sale of a firm but rather the sale of a book of clients as the firm looks to significantly downsize. The sellers prefer to service the accounts with the buyer for 12-24 months under a contractor agreement to ensure maximum retention of clients. Open to a longer period of time if the buyer prefers or is averse to certain types of business (e.g. bookkeeping). Sellers are willing to train a new firm owner/first time buyer. Software: QBO, QBD (small amount), UltraTax, Canopy Tax Book Breakdown: • 467 total clients (many individuals have 1 or more businesses included in the 467 count). Mostly service based small businesses + their owners, and small-time real estate investors. • Accounting/Payroll/Sales Tax: $360k – annual, quarterly, monthly • Tax Preparations: $660k – Avg return over $1,500 (blended avg between personal and business) • Tax Planning: $130k across 50 clients • Other/Advisory: $50k+ across 100 clients Terms: • 175% of Revenue: ~2,160,000 • 75% at close: ~$1,620,000 • 25% on a 12-month retention-based earnout: ~540k. Will fluctuate up or down based on revenue targets, new clients, or lost clients. • 140% floor: Total deal value no less than $1,680,000 after any retention based clawbacks.