Accounting Firm Sold
- Whitehouse Melbourne, Victoria -
Melbourne Eastern Suburbs Accounting Practice
Thriving Melbourne Practice with Strong Client Base
SOLD
FEES: $750K
Reference: PPV04365
Located in the City of Whitehorse LGA, this well-established accounting practice has a strong presence in Melbourne’s eastern suburbs, generating fees of approximately $750K. For over 20 years, this firm has provided comprehensive taxation, SMSF management, and business advisory services to a diverse client base, including small business enterprises and high-net-worth individuals. While clients are primarily based in Victoria, the firm also serves clients across Queensland, NSW, and South Australia, managing all services from its Melbourne office. New clients typically come from referrals by existing clients, solicitors, and bankers, with minimal reliance on formal marketing activities.
Client Base Overview:
Tax Services: The practice processed 273 tax lodgements in the current year, with an average fee of $2.9K per return. Revenue distribution includes:
- 135 individual returns, representing 23% of revenue
- 54 trusts, accounting for 22% of billings
- 69 companies, contributing 40% of revenue
- 15 SMSFs, making up 14% of fees
Client Diversity: In FY 2024, 180 client groups were serviced, with an average annual fee of just under $4.5K. Revenue distribution by client group includes:
- 9.1% from fees in the $3K–$5K range
- 14.2% from fees in the $5K–$10K range
- 33.3% from fees in the $10K–$20K range
- 19.2% from fees in the $20K–$30K range
- 10.4% from clients exceeding $30K per year
- Top Clients: The top 20 client groups contribute around 51% of total revenue, with the largest client at 5.6%. Nearly half of these key contacts are below 60 years of age, and all but two of the top clients are based in Victoria, primarily in Melbourne’s eastern metro area.
Staff and Operations:
- The firm is supported by a highly experienced team, including 2.75 qualified professionals and a part-time administrative staff member.
- Technology in use includes Handisoft, BGL, and Windows software, providing a modern and efficient operating environment
Premises and Transition Support:
- The office premises are owned by a related entity, offering the option to renegotiate lease terms with the current lessor.
- The principal is looking to retire but is committed to providing a smooth transition to secure ongoing client relationships for the purchaser.
This is an excellent opportunity to acquire a well-respected firm in a sought-after Melbourne location, with strong client loyalty and growth potential.
For more information, please contact broking@robknightsbroking.com.au or call (02) 9233 4333. Completion of a confidentiality agreement is required before any additional information can be provided.
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