Listing Number Location Annual Gross Asking Price Status
CAN1494 SF Bay Area $761,000 $950,000 Available

Description:

* This practice was established in 2004
* This is a turnkey opportunity primed for more growth
* There is a key employee in place who is capable of heavy lifting which will make transition smooth and profitable.
* There is an office located in San Francisco and another in New York. Rent for the offices is minimal at $725/month for both.
* The revenue is split approximately 80% from SF Bay Area clients and 20% NY clients.
* This firm focuses on startup companies. They get in on the ground floor and assist with any services the companies require, such as QuickBooks setup, projections, back office tasks, bill pay, insurance advisory, etc.
* There is also $35,000 +/- of business management services for 5 +/- high net worth clients.
* Software in use includes Ultratax, QBO, and Practice CS
* Approximately 70 bookkeeping clients, generating $328,964 of the gross revenue
* Approximately 65 individual tax returns with an average fee of $1,266 per return
* Approximately 83 business tax returns with an average fee of $2,142 per return
* $100,000+/- revenue is Payroll, Tax advisory, Planning, and IRS Representation
* The net income to owners has been around $613,920 but there is room to increase margins up to 50% for the right buyer.
* The selling owners have been key to growth but retaining and servicing clients going forward will be very manageable with the assistance of the key employee who is compensated at $55/yr.

To obtain additional information on this practice go to Request More Information and register with broker. You can also be placed on a free listing notification list. Not all information is included above due to confidentiality concerns. The information is provided by sellers and has not been audited or verified by Accounting Practice Sales, Inc. or any of its independent brokers. Buyers are responsible for their own due diligence before buying any practice. Buying and operating a tax or accounting practice involves a certain amount of risk and requires business experience and professional skills.

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