SOLD
Bookkeeping Firm - Sydney Based

Located in Sydney, this well-established and prominent bookkeeping firm had achieved remarkable growth and success since its inception. The business generated $4.2 million in revenue for FY 2023, having doubled its revenue since 2019 through both organic growth and acquisitions. The firm provided high-quality services and added value to SMEs, attracting clients from referrals, accountants, and targeted marketing efforts.

Business Overview:

• Revenue Model: 82% of revenue was generated via monthly retainers, with the remainder billed hourly.
• Client Base: The top 20 client groups contributed 45% of annual revenue, with the largest client accounting for 7.8%. All clients were Sydney-based, with some being subsidiaries of international companies.
• Staffing: Approximately 90% of professional staff were qualified accountants, working in teams led by account managers to ensure smooth client communication and efficient workflow.

Locations and Infrastructure:

• Primary Office: Partly owned by the vendor, with a leased suite on a 3-year term (commenced March 2023).
• Secondary Office: Established in 2022, on a 5-year lease term.
• Modern Facilities: Both offices underwent new fitouts in 2022, featuring state-of-the-art IT equipment and a bright, modern design.

Transition Support:

The vendor, transitioning to a family business, ensured a smooth handover by offering negotiable support terms to facilitate continuity for clients and staff.