Ideal as a ‘tuck in’ or ‘bolt on’
These fees make up the majority of this long standing accounting / tax practice conveniently located in Sydney’s Hills District. Fees for sale are circa $330K. The majority of the clients reside in the local area and are typically 50+ years of age, many of whom are in their 60’s and 70’s. New clients are from referrals. Few are simply an individual return or partnership, rather representing client groups, who in many instances are high wealth professionals and investors. The firm’s past audit services are now being discontinued, with financial planning advice also not offered.
Tax lodgements performed within this fee base for the 2018 tax year numbered 462, distributed across partnership (7), trusts (35), super funds (32) companies (34), and I returns (189). 165 BAS are also associated with these fees. The average lodgement fee for the period was slightly more than $700.
Revenue is centred around fees within the range of $3K – $20K, which contribute 81% of income, whilst the balance is spread reasonably evenly across most of the other ranges. The overall average client size is around $3.4K per annum.
The top 20 client groups contribute some 63% of these total fees, including the largest client, who makes up around 6% of revenue. The majority of these clients have been serviced by the firm for 10, 20, or in some cases, 30 years. All but one is Sydney based and represent a range of industries. These key contacts range in age from their mid-thirties to their early eighties, with half 70+ years of age, although of those, around half remain active within their industries.
The vendor is wishing to retire, although transitional assistance is available for the initial six months on an ‘as needs’ basis. Likewise, the retention of the firm’s current personnel would also aid client transition. Lease commitments conclude at the end of October, with no ongoing availability.
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.
