An ideal fee base as a value add to an existing firm.
A boutique sole practitioner cloud based practice, located approximately 6kms south of the CBD, with continuing fees circa $670K, targets young to middle aged clientele, with referrals originating via clients and a strongly driven SEO website.
The firm offers a range of compliance based services including company taxation, accounting, business advisory, SMSF, bookkeeping, FBT and audit. Fees from individuals represent 20.8% or $156K annually, whilst companies contribute $131K or 17.5% of revenue, super funds at $86K or 11.5% annually, and BAS at $130K or 17.4% of fees per annum. The firm has an average tax lodgement size of $529.
The firm’s typical clients are broad ranging including professionals, builders, some of whom are billed as monthly retainer payments. The largest client group contributes some $125K in fees annually with around 45% of turnover associated with annual fees of $3K+. The top 20 clientele, contributing 44% of total fees, represent a range of industries including builders, concreters, architectural businesses, engineering, medical professionals, clinical psychologists, plumbing services, mum and dad companies, Uber, diamond merchant and retail industry and sole trader businesses. The firm has predominately Sydney based clients with a few interstate based clientele. Almost three quarters of the key contacts in these groups are aged in their 40’s.
The firm utilises Xero for tax, Xero for clients, Docusign, Access (MYOB ledger) and BGL. A proactive firm with a keen eye for processes and procedures in both systems and compliance matters.
Personnel, in addition to the principal, consist of three full time accountants with a related party assisting with administrative tasks.
The firm’s premises consist of 62 m2, the current lease for which expires in May 2023, with a further option to renew.
The vendor seeks to retire, albeit retaining a small proportion of ‘I’ returns that would be considered non-transferrable. The transition activities of the vendor will be negotiated but flexible and will include client introductions and briefings for say 6 to 7 months, perhaps longer where agreeable to both parties.
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.
