A small fee base suited to a first time practitioner or bolt on to an existing firm
This opportunity represents around $300K in fees generally reflective of a small sole practitioner, albeit there is the potential to expand via client referrals.
Tax lodgements consist of 300 ‘I’ returns or 27% of fees, 10 partnerships, 10 trusts, 100 companies or 54% of revenue, and 15 super funds. Additionally, there were 30 quarterly BAS and a couple of bookkeeping engagements. Overall, this represents an average return billing of $724
There were 219 client groups serviced in the 2023 FY, representing an average of just under $1.4K per annum. There were six larger client groups which contributed around 25% of the overall fees, whilst a strong proportion of revenue was also generated from fees in the $500 – $2K fee range.
The top 20 client groups are generally located in Sydney and range in age from their early forties to mid sixties, with some 50% of the groups led by key contacts in their forties. The firm services a range of industries.
In addition to the principal, there is also a full time accountant as well as an administrative staff member.
The firm utilises Xero and Handisoft software.
The firm’s premises is 70 m2 with the current lease expiring in April 2024.
The practitioner is wishing to focus on a family business in a different industry, albeit there will be a small proportion of clients that they will continue to service as they will not transfer to 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.
