This long established firm provides compliance, business and audit services to predominately its SME clientele from a variety of industries including manufacturing, retail, professional, entertainment and sport as well as investments. Opportunities exist for an expansion of accounting and financial planning services amongst the current client base.
The practice as a whole lodged around 1,150 tax returns in 2015 with an average lodgement size of $1,366. These numbers were distributed across roughly 600 company/business type returns which contributed some 67% of fees. Standalone I returns numbered some 460 or 14.7% of fees with the firm also completing 50+ SMSF returns and audits in addition to some statutory trust account audits.
The fee base is not dependent on a select few larger clients as indicated by an average client size of around $2K per group. Almost half of the revenue in 2015 was contributed by annual fees within the range of $3K – $20K. There is also a handful of larger clients, the most significant of which was $53K+ in fees during the prior year. Some 15% of fees in 2015 were also generated by smaller clients of less than $1K for the year.
The top 20 current client groups contribute 28% of the fees for sale and represent a variety of industries and key contact ages. Most are Sydney CBD and suburban based.
Professional personnel are a mix of both permanent employees and contractors in conjunction with a couple of long standing administrative staff. Prospective purchasers with excess capacity within their firms may benefit from this current structure.
The practice is currently being operated by consultants who were previously equity holders in the firm, one of who is available for a short term transition and the other is interested in a permanent position with the purchaser. The premises are presently on a month to month lease enabling the firm to be relocated into the CBD or close surrounding Eastern Suburbs. Conversely, there may be the opportunity to renegotiate a lease for these premises.
E-mail practicesales@robknights.com.au to request a confidentiality agreement or phone (02) 9233 4333.
The completion of a confidentiality agreement is essential prior to the supply of any information.
