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Accounting Practice For Sale in Richards Bay
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Business For Sale

BUSINESS FOR SALE OVERVIEW




Accounting Practice For Sale

REDUCED PRICE R2.4m


This practice is well established with stable monthly billings.  This is an opportunity for you to move to the coast and enjoy lifestyle while owning a practice. The staff members will remain and continuity is ensured for the clients and the buyer.
 

The seller is planning to relocate closer to family in another province. You are looking at a 50% down payment with a client / turnover warranty transaction. Don’t delay!


 

BUSINESS SELLING DETAILS

Asking Price 2,800,000
Fees Per Year* 2,185,480
Cost Of Sale* 39,893
Gross Profit* 2,145,587
Expenses* 1,226,485
Profit Per Year* 919,102

 

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 solid monthly 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

Local paper.

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

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

30 – 60 days – about R500,000 debtors book

How could the profitability of the business be improved?

More clients should be added.

Is Seller finance available and for what amount?

Yes, in line with selling accounting practices the seller will accept a 60% 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?

6 staff members that exclude the owner. Thus 6 to be taken over. 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?

Nov 2018

Is there an option of renewal & what period

Yes

What is the annual escalation %?

10% historically

What are the trading hours?

Office hours

What is the square meterage of the business?

 

Is a copy of the lease available?

Yes

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?

None

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

Consistent Clients

Good recurring Income

Staffed

Well established

Weaknesses

Keeping up with change

Opportunities

Expand services to clients

Growing area

Provide more Value Adds

Raise marketing profile of practice

Threats

None Perceived

8. Reason For Sale

What is the reason for the sale?

Owner wants to relocate

9. Conclusion

Why is this a good business to buy?

Client Retention with the remaining staff members, strong monthly income. Flexible time and great location to be at. Well establish practice





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

Baie dankie vir jou goeie diens!  Waardeer op reg.- Kevin (2018)

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 20 April 2018