Accounting Clients For Sale, Accounting Practice For Sale, Accounting Block Of Fees For Sale, Northern Suburbs Accounting Fees For Sale, Consulting Centric Accounting Firm For Sale
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Consulting Centric Accounting Firm Fourways
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Business For Sale

BUSINESS FOR SALE OVERVIEW


Accounting Practice For SaleThis firm in Fourways is consulting centric and less focused on monthly accounting work. With clients in Gauteng (82%) and KZN (18%). The owner is retiring from the industry and as a result, this opportunity has become available.

There are 60 clients, the biggest make up 9.2% of the fees, it mitigates concentration risk and the top 20% of the clients represent 67% of the revenue, so you are serving decent clients and not chasing rats and mice. Ideal opportunity to get into the industry or a simple add-on for your existing firm as there is no staff to take over.

The sellers will ensure a smooth handover and transition of the clients and provide a 12-month warranty


BUSINESS SELLING DETAILS

  Asking Price     1,350,000
  Fees Pa 1,056,589 
  Expenses Pa 402,292
  Profit For Year*    744,786



BUSINESS MANDATE INFORMATION
 History and Overview Of The Business
Fully describe the business's activities  This firm established for 21 years focus more on consulting work, even outsource some of the Payroll and other work. There is an opportunity for more income from the same clients.
When was the business established? Since 1999
How long has the owner had the business? Seller started it
 How Does The Business Operate
How does the business operate on a daily basis The firm is a single practitioner operation. The seller works from home, using and his wife helps him with some of the work. The client travel to KZN from time to time to visit the clients there
How are the clients attracted to the business? Word of mouth and referrals.
What Advertising/Marketing is carried out? No advertising is currently carried out.
Does the business have any contract work? No, but longstanding regular clients.
What competition exists? Normal competition
Seasonal Trends? Busier in times where normal accounting and tax deadlines apply. Consistent monthly work in progress. This could change if more people were involved in the business as the annual financial reporting and tax work could be carried out by end of November and that would leave December and January as quiet periods
 Financial Information
Vat Registered? No
Management Accounts? It will be provided if needed, available up to Dec 2019
Audited Financials? All documentation will be available to an approved buyer during due diligence.
What as Cash/Credit Split? 100% credit as clients pay after the work is completed and the invoices were sent out. No bad debts currently
Debtors Book Age Analysis Most are 30 days
How can you improve the profitability? Profitability can be improved by increasing the services offered and môre sales.
 Is Seller Finance available and if so what is it? Yes, a structured deal will be considered on the following basis:-
 (1) Finding an approved Buyer.
 (2) The seller will expect an upfront cash payment, of 50% of the purchase price, on the Effective Date.
 (3) The Seller will warrant turnover for 12 months, subject to acceptable terms and conditions being established for the owner’s continued involvement in the business.
 (4) The balance is payable monthly over 18 months.
   Staffing Of the Business
What is the total number of Staff?
No Staff to take over, the owner and his wife assisting is doing all the work,
Staff Special Perks and Bonuses? N/A
Are the staff on Contract? N/A
Does any of the staff have management potential? N/A
How involved is the Owner in running the business? The owner is hands-on and the business takes 100% of his time with assistance from his wife.
  Premises Of the Business
When Does the Current Lease ends? Home Office
Is there an option to renew? N/A
What is the annual escalation % N/A
What are the Trading Hours? Office Hours
What is the square meters? N/A
Is a copy of the lease available? N/A
Do You require a license? Tax Practitioner registration is required as well as registration with a board such as SAIBA/SAIPA/SAICA etc
 Assets Of The Business
Full Asset List available? This is the purchase of clients, a block of fees. No Assets
 Anything not included in the sale? N/A
 What is condition of the assets N/A
 Any Assets on Lease/HP that Buyer needs to take over? N/A
 Are they insured at the moment? N/A
  SWOT Of The Business
 STRENGTHS Established and Profitable clients
Loyal Clients due to the personal level of service they have received.
Low concentration risk spread, but still decent sized clients worth the effort.
Monthly cash flow constant due to spread of work all year.
 WEAKNESSES Currently, no other staff to assist in busy times as the owner does everything.
Owner 66 years old and the sole practitioner.
 OPPORTUNITIES Plenty of growth potential.
Audit work and BEE consultancy services.
Bookkeeping and Payroll is mainly outsourced to subcontractors
 THREATS None Perceived
 Summary
Why is this a good business The firm has established loyal clients. This provides an easy, steady monthly income and can be handed over without difficulty. There are small companies in the client base that are very profitable with good growth prospects. For a Registered auditor, there is a good possibility that some of these medium-size entities will require audits in the near term.
Why is the owner selling it? Owner is 66 years old and would like to exit the business to retire


Accounting Clients For Sale, Accounting Practice For Sale, Accounting Block Of Fees For Sale, Northern Suburbs Accounting Fees For Sale, Consulting Centric Accounting Firm For Sale

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