SOLD
Accounting Practice - Adelaide North East

This long-standing accounting practice, established in the mid-1970s, operated from its primary location 15 km northeast of Adelaide and a part-time regional office 80 km southeast of Adelaide. With fees circa $970K in FY 2015, the firm primarily serviced small business clients, offering tax, compliance, and SMSF advisory services. The practice was structured for lifestyle, but growth opportunities were available with proactive promotion and marketing.

Key Highlights:

Client Base:

• Broad mix of small business clients aged 35–70, many serviced for over 30 years.
• Primarily sought tax, compliance, and SMSF advisory services.
• Top 20 client groups contributed 30% of annual revenue.

Revenue Composition:

• 1,469 tax lodgements in FY 2014, with an average client size just below $1K.
• 42% of revenue from company and trust returns.
• Partnership and super fund returns contributed 17% each.

Growth Potential:

• Opportunities to relocate up to 50% of regional clients to Adelaide.
• Potential to expand financial planning services ($50K in optional revenue).
• Option to purchase regional fees separately from the Adelaide base.

Operations & Location:

• Lease terms for both offices concluded in mid-2015.
• Adelaide office was fully relocatable within the northeast or closer to the CBD.
• Transition terms were negotiable to ensure a smooth handover.

This practice offered a loyal client base, flexibility in operations, and exciting growth opportunities, making it an excellent acquisition for buyers seeking a solid foundation with lifestyle options.