Business Overview:
This accounting and tax practice has been serving business owners and individuals throughout Virginia for more than 10 years. The firm has multiple revenue streams including primarily tax work, bookkeeping, accounting and audits. The firm is efficiently staffed and has several experienced professionals.
95% of the practice is recurring revenues. The largest client represents roughly 5% of annual revenues. Until 2019, the company took on many less profitable clients but since then, it has significantly raised prices as excess capacity has been reduced. The company does zero advertising and a buyer would benefit from implementing a marketing plan as well as the rollout of an active social media campaign. New clients are referred by existing clients as well as other local professionals.
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Property Features and Assets:
Seller owns the real estate. He is willing to sell the property for an additional $260,000.
Market Competition and Expansion:
The market size, measured by revenue, of the Accounting Services industry is $141.8bn in 2022. The market size of the Accounting Services industry in the U.S. has grown 3.4% per year on average between 2017 and 2022. The industry is expected to increase 6.3% in 2022.
Reason for Selling:
Owner wishes to retire.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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