Accounting Practice For Sale,Accounting Firm For Sale,Accounting Clients for sale,bookkeeping firm for sale, bookkeeping clients for sale
|
Well Established Accounting Firm in Drakensberg Region
Bookmark and Share

Business For Sale

BUSINESS FOR SALE OVERVIEW



Accounting Practice For Sale

If the Drakensberg works for you, you shouldn’t miss this.  The practice with a 30 year track record is looking for a new owner. 

Well establish with an owner that visit the clients and practice weekly or twice per month. Staffed with two local staff members it is perfect as your local branch

 
BUSINESS SELLING DETAILS

Asking Price 700,000
Fees Per Year* 673,508
Cost Of Sale* 2,018
Gross Profit* 671,490
Expenses* 390,927
Profit Per Year* 303,200

 

Business Overview

 

1. History Background

Fully describe the business's activities

This practice is made up of normal Accounting & Tax Services. There are two local staff members and the seller visits is bi weekly. The practice has an established client base.

How long has the business been established?

31 years. 24 Years with the founder, 6 years with another pwner, 1 year with the current owner. No loses of revenue during the previous sale and transition

 

How long has the owner had the business?

1 Year

2. Present Market

How does the business operate on a daily basis

Clients visit the office to drop of documentation. The

seller also currently goes down once per week to visit the office and meet with clients to ensure the personal relationship is kept with the clients. The business operates with two staff members on site in the office.

How are the clients attracted to the business

Word of mouth

What Advertising/Marketing is carried out

None apart from the magnetic decals on the car of the staff member

Does the business have any contract work

No, only long standing clients

What competition exists

Normal competition in town

What are the seasonal trends

Normal accounting tax seasonal move, but very constant income and billing r

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?

You buying a block of fees

What percentage of the business is cash/credit?

Terms of 30 days

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

Most clients pay in the 60day period from Invoice. The only bad debt in 6 years was R15,000. The clients are therefore good payers

How could the profitability of the business be improved?

More clients should be added and the service offering can be expanded.

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..

4. Staffing

What is the total staff complement?

2 staff members that excludes the owner.

Staff Breakdown

Will be discussed with buyers.

Do any receive special perks, bonuses or incentives?

Normal incentive bonus

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?

Month to Month

Is there an option of renewal & what period

N/A

What is the annual escalation %?

N/A

What are the trading hours?

N/A

What is the square meterage of the business?

199m2 but you only need about 36m2

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 and equipment

Are any items not included in the sale?

N/A

 

What is their overall condition?

Good

Do any require repairing?

No

How have they been valued?

N/A

Which assets are on lease/HP and with whom?

Photocopier & Printer is a rental/lease

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

Established 30 Years

Staffed, you can run it remote

Weaknesses

Country Practice, limits growth potential

Opportunities

Expand services to clients

Growth opportunities for energetic owner

Country Lifestyle

Nice Entry Level Practice to get into the industry

Can be a very nice branch

Threats

None Perceived

8. Reason For Sale

What is the reason for the sale?

The current owner bought it a year ago as part of a strategy to accommodate his daughter in his practice and branch out into the area. She is however emigrating and as result he doesn’t need to have the practice anymore nor can he sustain both practices with the same service levels.

9. Conclusion

Why is this a good business to buy?

Well established, staffed and has had a few owners change hands in last 7 years with minimal impact

 

Accounting Clients For Sale, Accounting Practice For Sale, Bookkeeping Clients For Sale, Accounting Block Of Fees For Sale
Find us on Google+
Contact Us
frank@bizxchange.co.za
Do remember to check your spam folder if you do not get a response email and add us to your white list.

 +27-83-309-8655
We are expecting your call

BizXchange on Twitter
Business Buyers
Membership Membership:
Latest New User Latest: rosemary samuel
Past 24 Hours Past 24 Hours: 0
Prev. 24 Hours Prev. 24 Hours: 0
User Count Overall: 4437

People Online People Online:
Visitors Visitors: 17
Members Members: 0
Total Total: 17

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 14 April 2018