accounting practice for sale
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Base of 80 Accounting Clients For Sale
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Business For Sale

BUSINESS FOR SALE OVERVIEWSold Business

This accounting practice is for sale with 80 loyal clients. They are part of a larger practice were the seller has relocated to the coast. Due geographical Accounting Practice For Salereason and type of work required they cannot be serviced from there with the same service levels. The income generated from them is presented here and the expenses are those relevant if you keep the staff member and incorporate the business with your existing business. You have 70% requiring monthly or two monthly work to be done ensuring strong cash flows. The business is aggressively priced for a sale


Fitment Centre For SaleSELLING DETAILS

Selling Price

600,000

Turnover pm

55,973

Stock

0

Profit pm

34,446

Total Asking Price

600,000

Nett Assets Incl

0





MANDATE REPORT

 

1. History Background

Fully describe the business's activities

This is a client base receiving Accounting and Tax Services.  The practice covers a broad spectrum of industries. The nature of its clients is as follows: Agriculture, Investments, Manufacturing, Medical Small business etc.  Because of the monthly nature of PAYE, VAT, Payroll the practice has strong cash flows from very good paying customers.  They are mostly located in and around Pretoria but some visits to larger clients are required out of town.

How long has the business been established?

9 years

How long has the owner had the business?

5 years.

What steps are in place to solve "load shedding" problems

N/A

2. Present Market

How does the business operate on  a daily basis

Owner operated with 1 staff member specifically focused on the clients is sufficient.  Currently the owner has to perform some tasks and assignment of tasks from the coast which is why the business is aggressively priced for a sale.

How are the clients attracted to the business

Word of mouth, established clients that has been with the practice for a significant time, some predating the current owner and has been handled over time by various different staff members.  The existing clients also refer others

What Advertising/Marketing is carried out

Nothing.

Does the business have any contract work

Yes and they have longstanding regular clients supporting them

What competition exists

Normal competition from other tax practitioners and accountants in the area.

What are the seasonal trends

Tax Season starts in July and end in November, making this the right time to buy this practice.

3. Financial

Is the business VAT Registered

No

What VAT documentation is on file?

No, not registered

Are there up to date management accounts?

Yes

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

2009-2013 Income Statements.

What percentage of the business is cash/credit?

30 day settlement

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

30 days.

How could the profitability of the business be improved?

 Increasing the existing client base

Is Seller finance available and for what amount?

No.

4. Staffing

What is the total staff complement?

1 Staff member.  Note that the staff member is due for maternity leave shortly

Staff Breakdown and length of service

Employed since 2010 with Corporate background, qualifications and experience in various software module like Pastel Payroll, Caseware, Pastel Payroll, SAP etc

Do any receive special perks, bonuses or incentives?

N/A

Are they on contract?

Yes

Do any have management potential?

Yes

How involved  is the Owner in running the business

Owner operated currently from a remote coastal location

5. Premises

When does the current lease end?

N/A.

Is there an option of renewal & what period

N/A

What is the annual escalation %?

N/A

What are the trading hours?

Mon-Thursday 08:00-17:00

Friday 08:00-13:00

What is the square meterage of the business?

N/A

Is a copy of the lease available?

N/A

Do you require a licence?

Tax Practitioner, SAIPA or SAICA

6. Assets

Is a full asset list on file?

N/A

Are any items not included in the sale?

N/A.

What is their overall condition?

N/A

Do any require repairing?

N/A

How have they been valued?

N/A

Which assets are on lease/HP and with whom?

N/A

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?

N/A

7. S.W.O.T. Analysis

Strengths

Established practice for many years with a great name, great clients, great service.  Good paying clients

Weaknesses

Currently the owner is located at the coast

Opportunities

SARS pushing harder for compliance will grow the demand for this service and for existing clients to remain with the practice.  Compensation Fund, UIF etc grow demand

 

Threats

SARS pushing harder for compliance will require more and more expert tax knowledge from the practitioner.

 

8. Reason For Sale

What is the reason for the sale?

The seller has relocated to the coast and the distance is making this unsustainable going forward.

9. Conclusion

Why is this a good business to buy?

A solid loyal client base, with 70% requiring monthly or two monthly work to be done.  This ensures very good cashflow. Accounting Practices of this calibre, pricing and loyal client base on the open market is a rare opportunity.






 

Accounting Practice Clients For Sale,Accounting Practice For Sale,Pretoria Business For Sale

R130603
 


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