accounting practice for sale,auditing firm for sale,bookkeeping practice for sale
Auditing And Accounting Practice In Johannesburg North For Sale
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Business For Sale


Accounting Practice For SaleThis practice does auditing , bookkeeping, payroll and general service through appropriate legal entities.  Ideal for a Chartered Accountant. Properly staffed and with a good client spread of 70 companies over various industries you have low risk.  Terms as per industry standard and turnover warranty makes this very attractive.


  Selling Price     2,195,000   Turn Over Per Month     151,375 
  Stock Included   Profit Per Month 75,042
  Assets Included  120,000   R.O.I %  41%
  Total Price   2,195,000    

 History and Overview Of The Business
Fully describe the business's activities  This is an accounting practice with an auditing component as well.  The various legal entities makes up what is on offer as one whole.  70 Businesses are regular clients with some 109 businesses making up the client base.  Well staffed they do off-site and on-site support and work for the clients.  The maximum exposure to a single client is 17% of annual fees.
When was the business established?  2006
How long has the owner had the business?  The current owner started the business in 2006
 How Does The Business Operate
How does the business operate on a daily basis  The current owner mostly focus on tax related work, audits and reviews.  The 4 staff members does all the work required..
How are the clients attracted to the business? Word-of-mouth with no advertising
What Advertising/Marketing is carried out? No advertising
Does the business have any contract work?  For the monthly clients they have a monthly agreement in place for the fee.  The client fees are agreed annually but if client activity increases over agreed levels, the fees are adjusted during the year.  Most op the clients have letters of appointment in place.
What competition exists? Normal
Seasonal Trends?  Normal, busier in tax season
 Financial Information
Vat Registered?  No.  "The business" consist out of two distinctive legal entities, 1 x Pty Ltd and a sole proprietor. The bookkeeping entity is below the minimum required threshold and the sole proprietor as well.
Vat Documentation on File?  None, the sale of the clients and staff from the two entities as a going concern will not attract VAT regardless of the buyer's VAT status
Management Accounts?  12 months up to Feb 2016 consolidated for the two entities.  A proper client list with the billings will be provided
Audited Financials?  No, only management accounts
What as Cash/Credit Split?  Some are monthly paying clients and some ad hoc while others are annual.  A breakdown will be provided to a buyer.  Note that there is a solid monthly nucleus

Debtors Book Age Analisys  It is a mixture with the debtors book in the region of R150,000.  Normal spread for this industry
How can you improve the profitability?  There is a lot of latent work in the client base and the seller has not pursued this at all due to enough work and billing already in place for the staff compliment.  This latent work is things like Management Accounts, financial statements that can and should be done but unless the clients ask for it they don't offer either.
 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 hand over and turnover warranty the balance after a 6 to 12 month period to an APPROVED buyer. 
   Staffing Of the Business
What is the total number of Staff?  4 staff members
Staff Breakdown Refer to the staff schedule Appendix
Staff Special Perks and Bonuses?  They are incentivised on the fees and receive a 13th Cheque
Are the staff on Contract?  Yes
Does any of the staff have management potential?  The one staff member fill a supervisory roll
How involved is the Owner in running the business?  Hands on, but have a lot of free time
  Premises Of the Business
When Does the Current Lease ends?  Run from the seller's house, so will have to move as they are selling and emigrating
Is there an option to renew?  N/A
What is the annual escalation %  N/A
What are the Trading Hours? Mon - Fri  07:30 - 14:30
What is the square meters?  70m2 (Cottage with a kitchen)
Is a copy of the lease available?  N/A
Do You require a license? SAICA/SAIPA
 Assets Of The Business
Full Asset List available?  Yes, owner will provide. A vehicle used by one staff member, printer, laptops and software.  A server and PABX solution.  Also a Nashua rented printer/copier solution.

SOFTWARE Pastel Partner, Caseware and PaySpace
 Anything not included in the sale?  No, everything is included
 What is condition of the assets  Good, none needs repairing
 Any Assets on Lease/HP that Buyer needs to take over?  No
 Are they insured at the moment?  Yes
  SWOT Of The Business
 STRENGHTS Loyal well established client base.
Diverse client base minimizing specific industry risk.
Spread out client base minimizing specific geographic risk.
Efficient and Well Established Processes
 WEAKNESSES  Various entities used for the practice
 OPPORTUNITIES Grow the business with a Johannesburg North Presence
 THREATS  None perceived for this practice that is not in line with the industry
Why is this a good business Accounting practices with an established client base in Johannesburg North is a sought after commodity
Why is the owner selling it? Owner emigrating

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have viewed this page since 19 February 2016