An ideal opportunity for a practitioner in search of a tree change or for a firm seeking growth in their current location or through the establishment of an additional footprint.
This well-established boutique practice provides tax, accounting, SMSF and advisory services predominately to SMEs. It has a diverse range of long-standing client relationships, commonly between the ages of 30 and 60 years, with excellent referrals, experienced personnel and a fully integrated IT network. In addition to its reliable recurring compliance base, which often extends to the supply of additional business advisory services, the potential remains to expand further into a financial planning offering. Fees are circa $900K.
Tax lodgements for 2017 numbered slightly more than 1,000, predominately represented by individual returns which numbered 749 or 30% of fees. For the same period, company returns numbered 126 or 34% of fees, followed by superfunds at 48 or 12% of fees, trusts at 46 and partnerships at 45 in number. The average lodgement fee for the period was $800. The firm also performs three statutory audits as well as 46 SMSF audits.
Revenue is significantly focused towards the larger fee strata’s with some 60% of fees within the ranges of $3K and $20K per annum and a further 12% of turnover originating from fees $20K or greater per annum. With some 410 client groups, its overall average client size is around $2.3K per annum.
The top 20 client groups contribute around 44% of total fees overall with the largest client equating to 6.8% of revenue. Many of these groups have been serviced by the firm for 10, 15, if not 20 plus years. These key contacts range in age from their mid- twenties to early seventies, three quarters of whom at below 60 years of age. These groups are typically regionally based.
The firm’s vendors are either retiring or relocating for family reasons, however the necessary transition of client relationships will be undertaken in support of the purchaser. Lease terms are available in respect of the current premises.
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.
