SOLD - ACQUISITION
Accounting Practice - Sydney North Shore

This well-established, community-oriented accounting firm on Sydney’s upper North Shore offered maintainable fees of $900K. Known for its friendly and service-focused approach, the firm built a loyal client base and established a strong reputation within the local community.

Key Highlights:

Client Base:

• 2,500 tax lodgements in FY 2013, covering all types.
• Revenue sources: 37% from company returns, 30% from I returns, and 17% from super funds.
• Average client size: $800 per group.
• Top 20 clients contributed 17% of fees, with the largest client generating $22K annually.

Revenue Breakdown:

• 43% of revenue from clients with annual fees between $2K and $10K.
• Significant contribution from entity-related I returns and audit services.

Growth Opportunities:

• Potential to introduce financial planning and advisory services.
• Second-generation clients and referrals driving organic growth.

Operations & Transition:

• Paperless office protocols with heavy IT utilization.
• Negotiable lease terms or option to relocate within the upper North Shore.
• Vendor available for a smooth transition with tailored terms.

This acquisition presented a fantastic opportunity to own a reputable, client-centric firm with room for growth in one of Sydney’s premium locations.