An attractive client base ideally suited to either another local practice, an experienced practitioner in search of a northern beaches presence, or an expanding firm looking for a foothold in the area.
This is a general practice providing tax, accounting, SMSF and additional business advisory services to its generally wealthy and broad client base. A large proportion of the clients are located on Sydney’s Northern Beaches and Lower North Shore.
The suitable purchaser will require a degree of experience and expertise however they will be supported by fully qualified and experienced staff.
The firm has been in operation for over twenty years, representing a reliable revenue stream of approximately $530,000. The vast majority of the clients have been with the firm for over 10 years and growth is typically linked to referrals rather than walk-ins or internet based enquiries. Financial services are not as yet a significant offering to the client base.
Revenue is spread diversely across the practice. There are a select number of attractive larger clients with annual fees above $10,000. Over 60% of clients are within the $1,000 to $10,000 fee range, with the top 20 client groups contributing almost 50% of fees overall at an average client size of $3,750. Client groups under $1,000 represent only 5% of the practice.
485 tax returns were lodged for the 2016 tax year including 76 companies, 52 superannuation funds and 63 trust and partnership returns. The average overall lodgement fee per return was approximately $1,100.
Key benchmarks such as write offs, average debtor days, current charge rates are competitive with market and for a firm of this size.
There is a genuine reason for sale and the vendor will be available to assist with transition one day per week following the initial transaction period. The practice is relocatable within the Northern Beaches area, although the vendor would prefer it remain in its current premises initially, with lease terms available.
E-mail broking@robknightsbroking.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.
