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Accounting Practice For Sale in Town Eastern Cape
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Business For Sale

BUSINESS FOR SALE OVERVIEW


Accounting Practice For Sale

This practice is well established with comprising of various clients, some local and some in other areas.  This is an opportunity for you to move to the peace a quiet out in the Eastern Cape.  If already in the Southern Free State or Eastern Cape you now have an opportunity to expand your practice.


The seller is emigrating soon, so don’t delay!



 
BUSINESS SELLING DETAILS

Asking Price 550,000
Fees Per Year* 534,000
Cost Of Sale* 0
Gross Profit* 534,000
Expenses* 298,000
Profit Per Year* 236,000

Business Overview

 

1. History Background

Fully describe the business's activities

This practice is made up of normal Accounting & Tax Services. The owner is hands on with the marketing and consulting but the staff members do the bulk of the work. The practice has a spread out client base.

How long has the business been established?

2004

How long has the owner had the business?

Seller started it

2. Present Market

How does the business operate on a daily basis

Owner operated.

How are the clients attracted to the business

Word of mouth

What Advertising/Marketing is carried out

None.

Does the business have any contract work

Regular monthly clients

What competition exists

Normal competition for the industry

What are the seasonal trends

There is a bit of more work to complete during tax season. Jan and February with annual year ends is obviously busier. August for provisional tax is also busier. Very busy in beginning of the year

3. Financial

Is the business VAT Registered

Yes.

Are there up to date management accounts?

Yes, current and available.

What annual financials are available, income statement and or balance sheets?

Yes, 2018

What percentage of the business is cash/credit?

Terms of 30 days, Mostly buy Month En

What is the age analysis of the debtor’s book?

45% Current, 38% 30 days, 6% 90 days

How could the profitability of the business be improved?

More clients should be added, fees could be increased, lower that others in town at moment

Is Seller finance available and for what amount?

Yes, in line with selling accounting practices the seller will accept a 50% cash payment and subject to a proper hand over and turnover warranty the balance over a 12 month period to an APPROVED buyer. A structured deal will thus be considered. Please note the seller is emigrating and a fast handover will take place.

4. Staffing

What is the total staff complement?

3 staff members that exclude the owner. This will also assist with continuity and be a condition of a warranty.

Staff Breakdown

Will be discussed with buyers.

Do any receive special perks, bonuses or incentives?

No

Are they on contract?

Yes

How involved is the Owner in running the business

Owner is hands-on

5. Premises

When does the current lease end?

None, owner runs from his home

Is there an option of renewal & what period

Yes, you can rent ongoing from the owner that is keeping property, although he is emigrating

What is the annual escalation %?

N/A

What are the trading hours?

Office hours, but close for lunch time J

What is the square meterage of the business?

+/- 50m2

Is a copy of the lease available?

N/A

Do you require a licence?

Yes, professional body, example SAIBA/SAIPA/SAICA

6. Assets

Is a full asset list on file?

Some office furniture

Are any items not included in the sale?

Debtors

What is their overall condition?

Good

Do any require repairing?

No

How have they been valued?

Market Value

Which assets are on lease/HP and with whom?

Switchboard & Printer on rental

What are their settlement amounts?

N/A

Will Seller settle or Buyer to take over?

N/A

Are copies of agreements available?

N/A

Are they presently insured?

Yes

7. S.W.O.T. Analysis

Strengths

Loyal client base

Staffed

Well established

Weaknesses

Fees needs to increase gradually

Opportunities

Expand services to clients

Local country stile living, or branch for youy

Threats

None Perceived

8. Reason For Sale

What is the reason for the sale?

Owner emigrating

9. Conclusion

Why is this a good business to buy?

Client Retention with the remaining staff members growth opportunity as service levels of competition in the area aren’t to good. Nice entry size.

 

 


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Testimonials
What does our clients say? Both Buyers and Sellers?

Baie dankie vir jou hulp en moeite, dit was baie vinnig en maklik.- Nicolene (2018)

 It was a pleasure dealing with you Louis! It was good to know that you’ve got both parties interests at heart. Many thanks - Marcia (2017)

Thanks so much for your professional assistance with the sale, we appreciate it. -  Inita (2017)

Thank you for your hard work and input. You did say that it may be much quicker than I expected and you were right !! 
Also at a better price than even you expected, thank you and well done. - Ken (2017)

Baie dankie!! - Riaan (2017)

A thank you from my side for both your professionalism in handling the transaction - Erika (2016)

Forgot to thank you for your efficiency and the ease  of doing business with you - Joanne (2016)

Thank you so much! - Tiziana (2016)

 Thank You!  When can we set up an appointment to meet and discuss what is required to proceed with the sale? - Roxanne (2016)

Accounting Practice Buyers visits
Since 21 April 2018