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Established Accounting Practice In Johannesburg East
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Business For Sale


BUSINESS FOR SALE OVERVIEW


Accounting Practice For SaleEstablished Accounting Practice for about 25 business clients on monthly retainers.  Staffed and offering the full suite of accounting services to these clients.  In total about 130 clients, some individuals but then they either sole props, directors/members of these businesses and the odd long term client.  If you not very fast you will miss it.


BUSINESS SELLING DETAILS

  Selling Price     930,000   Turn Over Per Month    51,700
  Stock Included   Profit Per Month 36,700
  Assets Included  20,000   R.O.I % 46%
  Total Price   950,000    



BUSINESS MANDATE INFORMATION
 History and Overview Of The Business
Fully describe the business's activities  Established Accounting Practice for about 25 business clients on monthly retainers.  Staffed and offering the full suite of accounting services to these clients.  In total about 130 clients, some individuals but then they either sole props, directors/members of these businesses and the odd long term client.  If you not very fast you will miss it.
When was the business established?  2005
How long has the owner had the business?  The current owner started the business in 2005
 How Does The Business Operate
How does the business operate on a daily basis  Owner operated accounting practice from he residence.  She has two ladies that works in the practice, doing all the mundane work up to Trail Balance.  She deals with issues, SARS and the Management Accounts.
How are the clients attracted to the business? Word - Of - Mouth.  They have advertised over the years and still do for more business.
What Advertising/Marketing is carried out? Some advertisements to keep growing the business
Does the business have any contract work? 25 business clients are on retainer and they pay monthly.  All clients have signed Letters Of Appointments as required and some clients have also signed personal surety.
What competition exists? Normal for the industry
Seasonal Trends?  Tax Season obviously are busier
 Financial Information
Vat Registered?  Yes, important to note the buyer of the Going Concern will also have to be else the transaction will attract VAT
Vat Documentation on File?  Yes
Management Accounts?  Yes, owner will make it available
Audited Financials?  Can be done if required, but the clients is what you really buy as per accounting practice transactions
What as Cash/Credit Split? The 25 retainer clients are invoiced by the 25th and pays on the 3rd of the new month as a rule
Debtors Book Age Analisys  See above, but as normal there are the odd exception from time to time.
How can you improve the profitability? Grow the client base
 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?  2 staff members
Staff Breakdown  1 Lady 8 years, the other lady 1 month
Staff Special Perks and Bonuses?  No
Are the staff on Contract?  Yes
Does any of the staff have management potential?  No
How involved is the Owner in running the business?  Owner is hands on.  Owner deals with SARS and do the management accounts.  The ladies does the other work to trail balance per client
  Premises Of the Business
When Does the Current Lease ends?  Home Office
Is there an option to renew?  You have to move the practice
What is the annual escalation % N /A
What are the Trading Hours? Office Hours
What is the square meters?  30m2 used in the office, an offsite storage facility for files
Is a copy of the lease available?  N/a
Do You require a license? PIOA registered, but any of the accounting body registration will be required, ie SAIPA or SAICA etc
 Assets Of The Business
Full Asset List available?  Owner will provide, important is the SERVER and all the software licenses. Server has all the data of clients and the software is Pastel, Pastel Online Payroll, Pastel Audit,Pastel Online
 Anything not included in the sale?  Seller's Personal Laptop
 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 Long Established Practice with loyal customer base.
Retainer Based Income ensure decent cashflow
Business Clients
Staff lightens your workload and ensure continuation 
 WEAKNESSES  None Perceived
 OPPORTUNITIES Expand the client base
 THREATS  None Perceived, except client churn in a sale, why the standard guarantee will be available as the seller believe that normal good service will keep her loyal client base
 Summary
Why is this a good business Well established , retainer clients, business clients, staff knows clients and you get the normal accounting practice warranty.
Why is the owner selling it? Owner is emigrating


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