A well established firm located in the City of Whitehorse LGA with fees circa $700K.
This practice has been providing taxation services including SMSFs, management accounting, and general business advice to its client base consisting of small business enterprises and associated family members for in excess of 20 years. Business clients are generally aged 60 years or below with several HNW individuals also part of the client base. Its clients are based in Victoria as well as Queensland, NSW and South Australia with all services provided from its Melbourne base. Marketing activities are not significant with new clients generally originating from referrrals from existing clients, solicitors, and bankers.
The firm’s tax lodgements equates to an average of $2.6K per return for the current year consisting of 136 ‘I’ returns or 21% of revenue, 49 trusts or 27% of billings, 69 companies or 35% of revenue, and 15 super funds at 17% of fees.
There were 178 client groups serviced in the 2023 FY, representing an average annual fee of just over $4K per annum. Some 10.6% of this revenue comes from fees in the $3K – $5K range, 25.5% is provided from fees in the $5K – $10K range, 27% of income originates from annual fees of $10K – $20K, with 3 clients or 9.8% of fees in the $20K – $30K range, and a further 3 client groups or 14.5% of revenue from clients greater than $30K per annum.
The top 20 client groups for 2023 contributed around 51% of overall revenue including the largest client at 5.8%. All but two of these groups are located in Victoria, mostly in the eastern metro area. Almost half of the key contacts for these groups are aged below 60 years of age.
Staff are very long standing and experienced, with 2.75 qualified professional staff and one part time administrative staff member assisting the firm’s principal.
Handisoft, BGL and Windows software is utilised within the firm.
The firm’s premises are owned by a related party with the opportunity to renegotiate lease terms with the lessor.
The principal wishes to retire, however is available for the appropriate transition to secure client relationships with the purchaser.
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.
