MergerPlace

Well Established Accounting

North Carolina (Wake)


  • Asking Price: $499,500
  • Gross Income: $382,441
  • Cash Flow: $185,006
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $12,500
  • Listing ID: #223895
  • Established: 1992
  • Employees: 4 FT

Business Description

Well established (over 25 years in the Triangle) tax, accounting, bookkeeping, and consulting practice is ready for a new captain to take “the helm”. This full-service company services both business and individual clients. The motivated and experienced staff are all Certified QuickBooks Advisors.

2020 Financials reflect the Last Twelve Months (LTM) 10/2019 to 9/2020.


Business Details

Primary Business Category: Services - Accounting & Tax
Location: North Carolina
County: Wake

Company Information

Year Established: 1992
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 4 FT

Financial Information

Asking Price: $499,500
Gross Revenue: $382,441
Cash Flow: $185,006
FF&E: $12,500
Seller Financing Available: Yes

Property Information

Facilities:

The business is located in a booming Research Triangle town. The company employs 4-5 accountants/bookkeepers with up to 25 years of tenure with the company. The Business is located in an upscale office building with 2,000 sq. ft. of space that is currently fully utilized.

Growth & expansion opportunities:

The business is located in a “booming” Triangle town, with many new businesses and residents arriving every month. As stated earlier, the industry is projected to grow at an annualized rate of 0.6% over the five years to 2025 to reach $114.1 billion." Source: IBISWorld Industry Outlook ".

Competition:

The Accounting Services industry is expected to continue to experience strong demand over the next five years. An increasing number of businesses coupled with rising corporate profit will cause aggregate private investment to increase and generate higher demand for traditional accounting services, such as auditing and corporate tax assistance. The tax system overhaul passed in December 2017 has led to increased demand for industry operators during the outlook period as businesses and individuals comply with new changes. Overall, the industry is projected to grow at an annualized rate of 0.6% over the five years to 2025 to reach $114.1 billion." Source: IBISWorld Industry Outlook "

Reason for selling:

The business owner is nearing retirement and wishes to spend more time with family. The seller is very interested in ensuring that the new owner has a successful transition/handoff of the business and their clients.

Support & Training:

Will train for 4 weeks @ no cost For Business clients the firm manages and organizes financial details. The company also prepares financial statements, general ledgers, and job costing reports, and processes and files tax documents (payroll, sales, and property). The firm goes beyond just "filling out" forms, and analyzes their clients' data to uncover and correct potential problems, and identify potential cost/expense savings. All staff members are QuickBooks® certified, which enables the company to advise its clients on QuickBooks'® business solutions. The firm consults with clients regarding initial set-up and ongoing maintenance and support. The firm has extensive experience preparing tax returns for all types of business entities and Non-Profit Organizations. In addition, the company provides consulting services, such as year-end planning, budgeting, start-up guidance, etc. The firms' consulting services include budgeting assistance for planning and evaluating results, analysis of historical data, cash flow analysis to obtain a deeper understanding of the client's business.

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Business Listed By:

Don Emmett

Murphy Business Brokers