A long standing business services and superannuation firm with $5.8 Mill fees.
This well established accounting firm, located 5 kms from the CBD, prides itself on its trust, care and commitment to its clients. These values will be vital characteristics in the purchaser. Considered their clients’ financial GPs, they advise across a range of industries providing general consulting, family office, tax, accounting, and superannuation services to multigenerational groups and families. Growth originates through its established referral networks.
The firm’s lodgements equated to 2,295 in the 2023 tax year. These consisted of 1,286 ‘I’ returns, 10 partnerships, 402 trusts, 336 companies and 220 super funds. Overall, this represented an average billing of $2,140. No audits are completed by the firm.
There were 1,010 client groups serviced in the 2023 FY, representing an average annual fee of just under $5.5K per annum. Some 39% were within the fee ranges of $3K to $10K, a further 27% in the $10K to $30K range and roughly 21% with annual fees greater than $30K.
The top 20 client groups for the 2023 financial year contributed less than 21% of overall revenue including the largest client at 3% of 2023 fees. All but one of these groups are located in Sydney. The age of the main contacts within these groups range from forty years of age to their late eighties, albeit spouses and children of these contacts are also clients of the firm. Most have been serviced by the firm for 15, 20, or in some cases 30+ years.
The firm has around 12 FTE professional staff and 6.4 FTE support personnel, plus a couple of casuals, whose retention will benefit the purchaser and the overall transition process.
The firm’s premises is 413 m2 with the lease due in October 2026 and a further 3 year option. Whilst relocation could potentially be possible, it would be seen as very advantageous to remain in the current premises or close by.
The principals recognise that it is time to plan for their succession and pass the baton onto the next skilled and experienced generation of practitioners. Given their long standing and close relationships with their clients, the vendors are willing to work with the purchaser to identify the most successful transition, which is most likely to involve their participation, at least in a part time capacity, for a couple of years.
E-mail broking@robknightsbroking.com.au to request a confidentiality agreement or phone (02) 9233 4333.
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