SOLD: PPS03871 – N/E Adelaide Accounting Practice for Sale

This practice has now sold

A solid growth opportunity with options

This long standing firm with fees circa $970K for 2015 has been based some 15 kms N/E of Adelaide since the mid 70’s and also has a part-time regional office located around 80 kms south east of Adelaide.

The operational style of the firm has more recently been structured for lifestyle, thus opportunities exist for further growth with a little proactive promotion and marketing.

The firm primarily services a broad range of small business clients offering mainly tax and compliance services as well as SMSF advice. Clients range in age from 35 – 70 yrs, having been serviced by the firm for up to 30+ yrs.

Tax lodgements for FY 2014 numbered 1,469, with 42% of revenue generated from company and trust returns whilst partnership and super fund returns contribute 17% of revenue each. Some super fund audits are also performed. The average client group size is just below $1K with the top 20 client groups contribute 30% of annual revenue.

Current lease terms for the two offices conclude in June and August 2015. Around 50% of the regional clients could be relocated to Adelaide without resistance and the Adelaide office is considered relocatable over the longer term within the N/E district as well as heading closer towards or in the CBD, although many clients are presently located around the firm’s primary office. The work for all clients, including those regionally based, is completed within the N/E Adelaide office.

Options are open to purchase the regional fees separately from the Adelaide firm. Likewise, the sale of the $50K in financial planning revenue (generally excluded from the information memorandum) can accompany the accounting practice purchase if so desired, although this is not a requirement.

Transition terms are negotiable.

E-mail practicesales@robknights.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 information.