A longstanding established firm with fees circa $800K seeks new leadership.
Located in Melbourne’s Bayside area, approximately 15kms from the CBD for over thirty years, this firm provides accounting, tax, business development, SMSF bookkeeping and superannuation services as well as audit. Limited licences are also held to provide SMSF advice. Ongoing growth within SMSFs is anticipated.
Tax lodgements for the 2019 tax year numbered 700, with around 30% of revenue originating from 104 super funds, 25% of fees linked to 84 companies, 22% of income associated with 425 individual returns and 13% of revenue contributed by 78 trusts. The average lodgement fee for the period was just over $1K.
Trading companies are mainly the firm’s
business clients and the individuals are mostly property investors with more
than one property. Some have large share portfolios. Super fund clients are
mainly over 60 years of age.
Invoicing is predominately within the ranges of
$200 – $1,000 and then $2,000 – $10,000. The firm’s largest client contributes
approximately $25K in fees per annum with the top 20 client groups contributed around
27% of fees overall in FY 2019. Three quarters are Melbourne based, many of
whom have been clients for 10 years or much more. Three quarters of the key
contacts within these groups are aged 60 years or less.
The vendor is wishing to retire but is available to assist with a transition for up to six months where required. The firm’s current lease expires at the end of 2020. The preference would be for the purchaser to remain in the current premises for at least the short term.
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.
