SOLD
Accounting Firm - Inner Southern Sydney

This dynamic and long-standing accountancy firm, established in the early 1960s, operated from its current location 15 km south of Sydney’s CBD for nearly the same duration. With fees circa $1 million, the firm predominantly serviced clients within the St George and Sutherland Shires, along with some from further afield.

Key Highlights:

Client Base:

• A diverse mix, including sole traders, younger individuals building wealth, business owners, high NWIs, and multigenerational families.
• Clients predominantly in the growth or maturity phase, spanning trades, professional services, and hospitality industries.

Revenue Breakdown:

• Lodgement types:
• Individual returns: 12.5%
• Trusts: 18.4%
• Companies: 32.6%
• Super funds: 17.3%

Annual fees:

• $3K–$30K range contributed 68% of revenue.
• $5K–$10K range represented 24.5% of total fees.
• Average client size: $2.8K, with the top 20 client groups contributing 40% of revenue.

Lodgements:

835 lodged returns in FY 2017, with an average fee of $1.1K per return.

Opportunities for Growth:

• Strong client referrals due to ongoing advice on optimal entity structuring.
• Potential to increase revenue with financial services and in-house SMSF audits.

Transition & Premises:

• Vendor offered up to 12 months of transition support.
• Premises available for sale or lease, with a 12-month lease and a 3-month notice period option.

This firm presented excellent prospects for its future owner, combining a strong client base with opportunities for further growth.