Accounting Practice
SOLD
South East Melbourne, Victoria

An ideal bolt on for an established practice of a similar location or a practice wishing to grow from its current location.

This boutique long standing firm is located approximately 15 kms from the Melbourne CBD in the city’s south east suburbs and generates fees of circa $650K. The practice originally commenced in the 1960’s and now offers a full suite of accounting and taxation services.

Practice Overview

Services include, but are not limited to, the completion of financial statements, preparation and lodgement of tax returns, BAS preparation and lodgement, corporate secretarial services, tax planning and assistance with client accounting packages.

For FY2025, the firm completed:

• 559 lodgements, comprising of:
  • 421 individual (“I”) returns
  • 20 partnerships
  • 56 trusts
  • 40 companies
  • 13 superannuation funds
• 33 quarterly BAS
• Average billings per lodgement: Around $1.2K
• Approximately 390 client groups serviced
• Average annual fee per group: Around $1.7K

Client Base & Revenue Profile

Clients are varied and include industries such as primary production, trades, medical and construction services. Many clients are intergenerational businesses that have transitioned across families as they have matured and grown.

Most individual clients hold investment portfolios and/or rental properties, with several high wealth individuals and a number of operating sole trader businesses also represented.

The firm has a broad and balanced fee distribution:

• Some 12% of income from fees between $2K – $3K
• 26% from fees between $3K – $5K
• A further 19% from fees between $5K – $10K
• Just over 16% of income from annual fees between $20K – $30K

The top 20 client groups contribute around 30% of overall revenue, with the largest client representing 3.8%, reflecting a low concentration risk profile.

All major client groups are Melbourne or Victorian based, with some interstate and overseas clients also serviced. Primary contacts range in age from forty to the mid eighties, with around half under sixty years of age. Most have been clients of the firm for five, if not ten years.

Growth Opportunities

Growth has predominately been by referrals to date. Advertising is non existent and complementary services such as financial planning or broking have yet to be offered.

This represents a clear opportunity for an incoming purchaser to introduce additional services or structured growth initiatives.

Staffing & Operations

The practitioner is supported by a combination of professional and administrative personnel.

Technology Stack

The firm’s technology stack includes Access (Handisoft), BGL, and various other software packages.

Premises

• Approximately 130 m² of office space
• Currently occupied on a month to month basis
• Six month notice period, with the landlord open to offering a formal lease if required

Transition

The firm’s principal is wishing to retire, however is available where required on a part time basis, with some allowance for holidays.

E-mail broking@robknightsbroking.com.au to request a confidentiality agreement or phone (02) 9233 4333.

The completion of a confidentiality agreement is essential prior to the supply of any information.