This opportunity is well suited to most prospective purchasers, whether it be as a bolt on, secondary office or younger practitioner starting out on their own.
This firm, with approximately $435K in fees, is located in northern NSW, around the Ballina / Lismore area, and provides compliance, tax advisory and bookkeeping services to its almost 600 client groups who are typically also located within the local and surrounding areas.
Growth opportunities within the firm include the increased servicing of local business clients, an increase in business advisory services, in addition to the provision of bookkeeping and financial planning services. Growth to date has been through word of mouth and limited advertising, which with some increased emphasis and greater involvement in social media, in addition to more traditional methods, could boost clientele.
Individual returns number around 800 and contribute some 35% of total revenue, whilst company (49), trust (25) and partnership (44) returns contribute just under 30% of annual fees. Super funds, which equate to 18% of fees, are 36 in number, with the firm also performing a number of BAS and bookkeeping work on a quarterly basis.
Clients are well spread across a range of fee stratas, most significantly in the $1K – $3K per annum range, with revenue generated from the larger fee stratas representative of around 26% of total income. The firm’s average client size is slightly higher than $700. Most business clients are aged between 25 and 60 years and represent a range of diverse industries.
The top 20 client groups contribute some 21% of fees overall with the largest client an annual fee of $6.5K. Most of these clients are located in the Northern Rivers area and range in age from 30 to their mid 70’s. Almost two thirds of these contacts are below 60 years of age.
The vendor wishes to leave the profession but will be able to assist as required with an appropriate transition. The practice is well positioned within its local area and has a current lease until March 2020. Relocation much beyond its current presence is likely to impact upon smaller client retention.
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.
