A well-established, significant family friendly eastern suburbs firm in Melbourne is seeking continued growth through the purchase of additional sole or two partner firms.
This firm has a holistic service offering which includes accounting, tax, business services, SMSF audit, financial planning and mortgage broking. Clientele are typically around the $2K – $3K per annum range, although the firm’s more significant clients are approaching or are in excess of $100K per annum. The firm tends to specialise in servicing the allied health / medical profession whilst also focusing on estate planning and performing around 300 SMSF audits. There is also a significant number of property investors serviced by the firm.
Staff structuring is fairly flat with all personnel communicating directly with clients with skills developed quickly to have a broad knowledge base and expertise. Likewise, career development, professional development and equity opportunities are not in short supply.
This proposal will best suit a sole practitioner wishing to transition their clients over a 2 – 3 year period or a two partner firm where one equity holder wishes to phase out over the short term whilst the other partner continues on, perhaps retaining some equity. It would be expected that the corresponding fee base for such firms would be within the range of $800K – $1.5 Mill with a post salary profit of 15%+.
The primary service focus of the firm should be accounting, tax and services; however some company audit work, along with a small financial planning and/or mortgage book would also not be seen unfavourably. This firm’s average client size should also be similar, at a range of $2K – $3K per annum.
The fee base and the majority of professional personnel will need to relocate to the purchaser’s premises shortly after settlement. Likewise, transition across to the firm’s software would also be imperative which would include the utilisation of programs such as Handisoft, BGL, Class and XPlan.
This purchaser has finance confirmed; a realistic view of price and payment terms, and is ready to move now on any suitable transactions. Why not be sold by Christmas.
To discuss this opportunity further, please contact me via email michelle@robknights.com.au, telephone (02) 9233 4333 or mobile on 0413 047 077 for a completely confidential discussion.
Please note, Rob Knights Practice Broking Pty Limited is representing the purchaser in this proposed transaction. No fees or charges are payable by the vendor in relation to this particular proposal.
