This is a well established, prominent bookkeeping firm on track to achieve $4.2 Mill revenue for FY 2023. It commenced operations from its primary location in 2008, opening its secondary location last year. Its focus is on providing excellent service and added value to SMEs, with the firm still very much in the growth phase, more than doubling its revenue since 2019, in part via acquisition.
Given the firm’s size, clients very much appreciate engaging with a company rather than an individual bookkeeper. The servicing of clients is via the embedded processes and procedures which make the firm a success. New clients typically originate from accountants, existing clients, referrals, as well as marketing endeavours.
The vast majority, some 82%, of the firm’s revenue is generated via monthly retainers with the balance produced on an hourly basis.
The top 20 client groups contribute some 45% of annual revenue, the most significant of which equates to 7.8% of turnover. All are Sydney based, albeit some are subsidiaries of overseas companies.
Staff tend to work mostly within the office with around 90% of professional staff qualified accountants. The secondary office was established to benefit staff who were travelling from the outer western suburbs of Sydney. Staff work in teams which are headed by an account manager who communicates directly with clients and drives work completion.
Part of the primary premises is owned by the vendor, whilst the other suite has a three year lease from March 2023. The secondary location lease is for five years from August 2022. Both locations underwent new fitouts between August and October 2022 providing a bright, modern, attractive area in which to work, accompanied by all new IT equipment including servers and computers.
The vendor is wishing to return to the family business for the longer term, however is negotiable on the required transition.
E-mail broking@robknightsbroking.com.au to request a confidentiality agreement or phone (02) 9233 4333.
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