Practice for Sale

Southern Sydney

Accounting Practice for Sale


PPN01611 – Sydney’s Southern Suburbs Accounting Firm for Sale

A boutique firm servicing a small number of high net worth individuals and their related business and investment entities with fees circa $750K for FY 2020.

Located in Sydney’s southern suburbs, approximately 15 kms from the CBD in the St George area, this firm provides accounting, tax, business and property advisory, bookkeeping and superannuation services. Limited licences are held to provide SMSF advice. The firm continues its progression from predominately compliance services to a significant focus on business advisory and tax planning, assisted by strong internal processes.

The practice has been in operation for over 3 decades, having clients in NSW, Victoria and Queensland, and new clients originating from existing client and business partner referrals as well as the internet. Clients are from a broad range of industries with varying ages.

Tax lodgements for the 2019 tax year numbered 355, with over half of its revenue originating from companies (54%), and to a lesser extent individual returns numbering 158 or 14% and trusts 14% or 28 returns. The average lodgement fee for the period was just under $1.9K.      

Revenue is significantly generated from annual fees above $5K, which equates to over 90% of revenue. The overall average client size is around $6.8K per annum, which is unusual for a firm of this size, with only 97 client groups.

The top 20 client groups contributed almost 76% of fees overall in FY 2019, although this will reduce a little during the current period to potentially around 60% of overall fees. Three quarters have been clients of the firm for in excess of 10 years. These key contacts range in age from their early forties to early eighties, almost half of which are below sixty. Succession arrangements are already in place for some of these groups.     

The vendor is available in a full-time manager / consultant role for one year to assist with transition. It will also be important to retain two of the firm’s senior personnel. The preference would be for the purchaser to remain in the current premises for a couple of years, however relocation is a possibility.  

E-mail 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.