Live the idyllic lifestyle whilst running your own small firm on the far south coast of NSW. Work 4 days, play 3.
This is a longstanding firm located in the Eurobodalla Shire on the beautiful south coast, some 300kms south of Sydney and only a couple of hours drive from Canberra, with fees circa of $375K. The firm focuses on tax, accounting, and BAS, along with a couple of SMSF and trust account audits. The majority of the clients live within the shire, although there are also some clients based in the ACT, Sydney and other parts of NSW. The area is anticipating strong population growth due to significant infrastructural development in the region with limited competition from other firms. The practice currently operates four days per week.
The firm’s lodgements equated to 644 in 2022. The majority of the firm’s revenue originates from its 442 salary and wage returns, 74 sole traders, as well as its 43 partnership returns. There are also 2 trust returns, 9 company returns, 5 SMSF audits, and 4 trust account audits. Overall, this represented an average billing of $565.
The top 20 client groups for the 2022 financial year contributed around 35% of overall revenue, including the largest client at just under 5% of 2022 fees. The age of the main contacts within these groups range from their early forties to seventy, with over half below the age of 60. More than half are located in the local shire, and all but two have been clients for at least 10 years, more than half for at least 20 years. These groups represent a range of industries.
The firm would be well suited to a husband / wife structure providing the flexibility to care for a family in a relaxed lifestyle, albeit the ideal purchaser would have had experience in operating their own firm, along with the knowledge and expertise to successful transition these client relationships.
The firm is currently running MYOB via a couple of desktops and a server, whilst MYOB and Xero are utilised by clients where software is used.
The firm’s current premises are well located and visible, attracting walk ins. It consists of a large reception and front office, storage, a couple of private offices, a kitchenette and bathroom, thus there is more than sufficient room to grow. There is currently no lease in place.
The practitioner is wishing to retire but is available for consultations and subcontract work by agreement.
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.
