SOLD
Accounting Firm - NSW Central Coast

This long-standing accounting firm, located on the Central Coast, presented an exceptional acquisition opportunity for a firm looking to expand into the region or for a locally based practitioner seeking growth. With budgeted fees of $800K for 2017, this practice provided high-level tax, accounting, advisory, SMSF, and trust account audit services to its diverse SME and individual client base.

Key Highlights:

Client Base:

• 550 tax returns lodged annually, with an average lodgement size of $1.4K+.
• 76% of revenue generated from annual fees exceeding $3K.
• 55% of fees contributed by clients paying $10K+ annually.
• Top 20 client groups contribute 60% of fees, with the largest client accounting for 15% of revenue.
• Clients primarily in their mid-30s to late 60s, with long-standing relationships and opportunities for further growth.

Revenue Breakdown:

• Primarily sourced from companies, trusts, partnerships, super funds, and individual returns, most tied to larger client groups.
• Limited servicing of small individual clients, enabling a focus on significant SME clients.

Expansion Opportunities:

• Sophisticated tax planning and financial planning services.
• Corporate audit offerings to complement existing services.
• Growth fueled by referrals from current clients, professionals, and local industries.

Operations & Transition:

• Vendor available for a 12-month transition period, with potential for longer support by negotiation.
• Current lease renews at the beginning of 2018, with options for continued use, expansion, or relocation.

This firm stood out for its ability to meet the high-level tax and accounting needs of its clientele, making it an attractive opportunity for an experienced buyer looking to acquire a quality client base with room for growth.