SOLD
Tax, Accounting and Audit Firm - NSW Sydney CBD

This well-established Sydney CBD accounting firm presented a unique acquisition opportunity for a like-minded traditional practice seeking growth or a strategic footprint in the city. With maintainable fees of $900K+ annually, this firm offered a balanced mix of tax, accounting, compliance, and audit services, making it an attractive proposition for potential buyers.

Key Highlights:

Client Base:

• Clients predominantly located in the CBD and Sydney suburbs.
• Top 20 client groups contributed 50% of fees, with the largest client generating $170K in audit fees.
• Average tax lodgement fee: $1.4K; average client group size: $2.6K annually.

Revenue Breakdown:

• Approximately 50% of fees derived from audit services.
• 25% of revenue contributed by the two largest clients.
• Significant revenue generated from clients in the $3K–$10K fee range.

Service Offering:

• Audit services for 27 groups, including NFP organizations, aged care providers, and clubs.
• Additional potential in expanding NFP audits, virtual CFO offerings, and business services.

Operations & Transition:

• Lease valid until December 2019, with options for renewal or relocation within the CBD or nearby suburbs.
• Vendors available for a transition period of up to two years on a part-time basis to ensure client retention.
• Retention of staff is preferred to maintain continuity of service.

This firm presented a stable yet flexible foundation for growth, backed by a loyal client base and opportunities to expand service offerings. Importantly, prospective purchasers needed the appropriate registrations and expertise to service the firm’s diverse client needs.