Accounting Clients For Sale, Accounting Practice For Sale, Accounting Block Of Fees For Sale, Accounting Partnership, IRBA Partner wanted, Accounting Firm For Sale
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Helderberg Firm IRBA Partnership Opportunity
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Business For Sale

BUSINESS FOR SALE OVERVIEW


Accounting Practice For SaleThis is your opportunity to relocate to the Helderberg Region. This firm has 144 regular clients.  The Seller is looking for a partner to buy 50% of the firm and a possibility to acquire the balance in the next 12 months.

This firm is well established, since January 2003 as an accounting, tax, secretarial and consulting practice and since November 2005 as an auditing practice.  The practice is mainly focussing on Auditing, Accounting, Tax, Secretarial and Consulting Services.  The business is registered with IRBA, SAICA and SAIPA.   This is a small practice with loyal clients and staff alike   The seller will ensure a smooth handover and transition of the clients and provide a 12-month warranty.


BUSINESS SELLING DETAILS

  Asking Price For 50%     1,400,000   Turn Over Per Year (100%)     1,409,693 
  Work In Progress Incl (50%) 250,000    Profit Per Year (50%) 268,091
  Debtors Included (50%) 350,000   R.O.I %  19.1%
  Total Price   1,400,000    


You, therefore, have the opportunity to acquire 50% in the firm in the Helderberg, be an equal partner in this IRBA firm.

 Very low risk as seller is remaining and you get vendor financing for 50% of the initial portion over 24 months terms and a 50% deposit.

Please take note that only approved Buyers with NDA’s on file will receive further information and appointments with the Seller.




BUSINESS MANDATE INFORMATION
 History and Overview Of The Business
Fully describe the business's activities 

This firm is well established, since January 2003 as an accounting, tax, secretarial and consulting practice and since November 2005 as an auditing practice.  The practice is mainly focussing on Auditing, Accounting, Tax, Secretarial and Consulting Services.  The business is registered with IRBA, SAICA and SAIPA.   This is a small practice with loyal clients and staff alike.  

With 144 clients and 3 staff members, plus the owner, it still is owner dependent.  A proper handover will have to form part of any purchase.  To ensure this does happen the Seller is selling 50% initially and then the balance at a later stage to ensure this smooth and riskfree process takes place.  In addition, you will get the added risk protection of a Turnover Warranty.

 

When was the business established?  2003
How long has the owner had the business?  Started it
 How Does The Business Operate
How does the business operate on a daily basis Owner-managed and run with staff, manager and owner doing the work with supporting staff.
How are the clients attracted to the business?  Referrals, Networking,Word Of Mouth
What Advertising/Marketing is carried out?  Word Of Mouth
Does the business have any contract work?  No, but longstanding client base.
What competition exists? Normal competition, the area is economically growing and expanding and that offers various opportunities locally and also in the city of Cape Town and the adjacent Cape Wine Lands.
Seasonal Trends? Busier Tax Season
 Financial Information
Vat Registered?  Yes
Vat Documentation on File?  Yes, VAT returns available on SARS efiling which can be provided upon request
Management Accounts?  It will be provided when needed
Audited Financials?  2018 Financial statements are available. Management accounts for 2019 will be provided when needed.
What as Cash/Credit Split?  Credit
Debtors Book Age Analisys  Most clients pay when they receive the invoice or within 30 days. There are debtors that are outstanding by more than 120 days, but they are now actively following up to collect the outstanding debt.
How can you improve the profitability? By increasing the client base and appointing article clerks
 Is Seller Finance available and if so what is it? Yes, in line with selling accounting practices the seller will accept a 50% cash payment and subject to a proper handover, turnover warranty for 12 months and the balance payable over 24 months in monthly payments, to an APPROVED buyer. A structured deal will thus be considered.
   Staffing Of the Business
What is the total number of Staff?  I5 Employees (3 Staff, 1 Manager, 1 Director)
Staff Special Perks and Bonuses?  No perks, but an annual bonus depending on productivity
Are the staff on Contract?  Normal Employment Contract
Does any of the staff have management potential?  In place
How involved is the Owner in running the business? The owner is Hands On, and also involved in doing audit work and compiling financial statements.
  Premises Of the Business
When Does the Current Lease ends?  February 2020 with the option to renew for a further 2 years
Is there an option to renew?  Yes your choice
What is the annual escalation %  10%
What are the Trading Hours?  8am - 5pm (Monday to Friday)
What is the square meters?  250m2 currently
Is a copy of the lease available?  Yes, on file
Do You require a license? Yes, professional body, SAICA/SAIPA and IRBA due to audits
 Assets Of The Business
Full Asset List available?  Yes
 Anything not included in the sale?  Will be discussed

 What is condition of the assets  Good
 Any Assets on Lease/HP that Buyer needs to take over?  N/A
 Are they insured at the moment?  Yes
  SWOT Of The Business
 STRENGHTS

Loyal, regular, distributed and diverse clients

Good staff

Established for 16 years

  Fee base with low concentration
 WEAKNESSES  Normal single partner aspect
 OPPORTUNITIES

Expand the firm

  Further potential to expand other services, such as safety files audits
 THREATS  None Perceived
 Summary
Why is this a good business The owner has continuously worked long hours and because of the recent expansion in getting new clients, requires an IRBA registered partner to assist with the workload.  The owner also wants to spend more time with her young children.
Why is the owner selling it?

It is a well-established and well-run practice with good staff and long-standing loyal clients.  (some clients have been with them for more than 10 years)



Accounting Clients For Sale, Accounting Practice For Sale, Accounting Block Of Fees For Sale, Accounting Partnership, IRBA Partner wanted, Accounting Firm For Sale

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