Profitable Accounting Firm in Richmond, Virginia

Not Disclosed, VA
Richmond City County

Asking Price: Annual Revenue:
$875,000 $800,000

Services: Financial, Accounting, Insurance

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RE: Profitable Accounting Firm in Richmond, Virginia Broker: Gavin P Raphael
Owner Financing is Available!

Quick Facts

Asking Price: $875,000
Annual Revenue: $800,000
Net Profit: $350,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $20,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 6
BBN Listing #: 907048609
Broker Reference #: Not Disclosed

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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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