Practice Sold

Central Coast - NSW

Accounting Firm for Sale

PPN03947

A Rare Central Coast Accounting Acquisition Opportunity

This is a quality client base well suited to an existing firm wishing to expand into this region or an experienced locally based practitioner seeking growth. Budgeted fees for 2017 circa $800K.

This long standing and well established firm offers tax, accounting and advisory services, in addition to SMSF and trust account audits, to its significant SME and individual clientele from diverse industries. Few local firms have the ability to provide the high level of advice, tax and accounting services required by this client base. Expansion opportunities exist within the current clientele to offer sophisticated tax planning, financial planning and corporate audits. Referrals from existing clientele, surrounding professionals and industries, also benefit growth.

The practice lodges around 550 tax returns with an average lodgement size of $1.4K+. These numbers were distributed across companies, trusts, partnerships, super funds and individual returns, most of which form part of larger clients.

This attractive client base generates around 76% of revenue from annual fees $3K and greater. Almost 55% of the fees are contributed by clients with annual fees of $10K+. Hence, the servicing of small individual clients is limited.

The top 20 current client groups contribute around 60% of annual fees, with the largest client equating to 15% of revenue. Whilst most of these larger clients have been serviced by the firm for numerous years, and range in age from their mid-thirties to late sixties, maintenance or future growth within annual fees for these clients remains.

Common KPIs are competitive with market with charge rates more than comparable with local market rates, reflective of the type of clientele serviced by the firm.

The vendor is wishing to retire but is available to assist with transition over 12 months, or longer where required, subject to negotiation. The current lease for the premises is coming up for renewal at the beginning of 2018. Longer term availability and/or expansion within these premises may be possible for a purchaser seeking a new base in the area, or relocation is also a possibility.

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.