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KZN Midlands Accounting Practice
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Business For Sale


BUSINESS FOR SALE OVERVIEW


The accounting practice focuses more on consulting to various clients ranging from farmers to business owners and some individualsAccounting Practice regarding tax than a pure bookkeeping practice.  Well establish with an owner that visit the clients and practice weekly or twice per month.  If the Drakensberg works for you, you shouldn't miss this. Priced for a quick sale.


BUSINESS SELLING DETAILS

  Selling Price     625,000   Turn Over Per Month     55,637 
  Stock Included   Profit Per Month 28,730
  Assets Included  30,000   R.O.I %  55%
  Total Price   625,000    



BUSINESS MANDATE INFORMATION
 History and Overview Of The Business
Fully describe the business's activities  The accounting practice focuses more on consulting to various clients ranging from farmers to business owners and some individuals regarding tax than a pure bookkeeping practice.  Well establish with an owner that visit the clients and practice weekly or twice per month.  If the Drakensberg works for you, you shouldst miss this. Priced for a quick sale.
When was the business established?  30 years
How long has the owner had the business?  6 years, bought it from the founder 
 How Does The Business Operate
How does the business operate on a daily basis  The business operates with two staff members on site in the office.  One position is currently vacant and the work can be done from somewhere else if needed.  It would however be a requirement to have a local presence with at least one staff member.  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.
How are the clients attracted to the business?  Word of mouth only
What Advertising/Marketing is carried out? None
Does the business have any contract work? None apart from the magnetic decals on the car of the staff member
What competition exists? Normal competition in town
Seasonal Trends? Normal accounting tax seasonal move, but very constant income and billing
 Financial Information
Vat Registered?  No, although the clients are invoiced through another entity that is VAT registered, so clients is used to pay VAT and the number reflect non VAT figures, hence no adjustment for VAT needs to be done
Vat Documentation on File?  Not registered
Management Accounts?  Yes
Audited Financials?  No, only management accounts
What as Cash/Credit Split?  100% on credit. 
Debtors Book Age Analisys  Most clients pay in the 60 day period from Invoice.  The only bad debt in 6 years was R15,000.  The clients are therefore good payers
How can you improve the profitability?  BEE Consulting in the area will generate additional revenue streams
Increased Bookkeeping functions will also increase revenues as that is not a focus at all
Audit work will also increase business if that is added
 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.  A structured deal will thus be considered.
   Staffing Of the Business
What is the total number of Staff?  1 Current Staff member although it needs 2 and 2 were employed and the cost of 2 reflected in the figures provided.  The owner also does some of the work
Staff Breakdown 1 Current staff member mans the office and does the bulk of the work required.  Studying BCom currently part time
Staff Special Perks and Bonuses?  Normal Incentive Bonuses
Are the staff on Contract?  Yes
Does any of the staff have management potential?  Possibly, studying B.Com but needs some extra experience
How involved is the Owner in running the business?  Active owner, goes down there once per week for 2 days.  Makes a long weekend in the Drakensberg from it.
  Premises Of the Business
When Does the Current Lease ends? Month to Month
Is there an option to renew? See Above
What is the annual escalation %  See Above
What are the Trading Hours? Normal Office Hours
What is the square meters?  100m2 but you only need about 36m2
Is a copy of the lease available? Yes
Do You require a license? SAIBA, SAIPA or SAICA depending on what you want to do
 Assets Of The Business
Full Asset List available?  Yes, Thew main asset is the CLIENT BASE.  You also get the furniture and office equipment used
 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? Photocopier & Printer is a rental/lease.  Buyer will take over
 Are they insured at the moment?  Yes
  SWOT Of The Business
 STRENGHTS Long Established Practice with loyal clients
Country Practice
 WEAKNESSES Country Practice
Debtors Book on 60 days 
 OPPORTUNITIES Growth Opportunities for energetic owner
Country Lifestyle
Nice Entry Level Practice to get going
Can be a nice KZN Midlands branch
 THREATS None identified

 Summary
Why is this a good business The business sector in the area is very active.  The practice has a long track record and priced right for a quick sale
Why is the owner selling it? Owner is advancing in years and scaling down.  For now only retaining his Gauteng Practice and retaining those clients.


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have viewed this page since 1 February 2017