Bookkeeping Firm in Richmond, Virginia

Richmond, VA
Richmond City County

Asking Price: Annual Revenue:
$550,000 $550,000

Services: Financial, Accounting, Insurance

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RE: Bookkeeping Firm in Richmond, Virginia Broker: Gavin Raphael
Owner Financing is Available!

Quick Facts

Asking Price: $550,000
Annual Revenue: $550,000
Net Profit: $160,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $5,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 3
BBN Listing #: 891748609
Broker Reference #: Not Disclosed

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Business Overview:

This bookkeeping practice has been serving business owners throughout Central Virginia for more than 20 years. The firm is efficiently staffed and has several experienced professionals.

The business has a diverse client base which has meant that through recessions, there has been little impact on revenues. Annual sales have increased an average of $40,000 per year since 2014. As long as businesses and small accounting practices know that there are reliable, U.S. based bookkeeping companies in the area, they are willing to refer business. The company has a referral base of 25 accountants and accounting firms that frequently refer business.

There is room for huge growth/expansion with this business. By hiring more bookkeepers, you could rapidly expand the business. This can be ideal for a single owner who is looking for a turnkey business, or an already established business who can easily incorporate the new clients and staff with their already existing business.

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Property Features and Assets:

Small office space is leased for one of the employees

Market Competition and Expansion:

Over the five years to 2026, revenue growth for the Payroll and Bookkeeping Services industry will likely be driven by increasing product penetration and an expanding customer base. Improving economic conditions will likely lead managers and small business operators to focus their time strategizing business activity and expansion plans, decreasing their focus on administrative tasks, such as payroll and bookkeeping. Accordingly, many businesses are expected to continue to prefer outsourcing payroll and bookkeeping services in favor of focusing on core competencies. Furthermore, a strong labor market will likely provide the industry with a platform for growth, supported by the number of businesses increasing over the next five years.

Reason for Selling:

Owner wishes to retire

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is a homebased business opportunity.
  • This is not a franchise resale opportunity.

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