This is a full-service CPA firm with continuing growth and exceptional profitability. Client engagements include compilations and corporate tax, bookkeeping, some payroll, and some review and audit. Personal tax is generally connected with businesses.
The firm has been maintaining steady growth, with over 50% of its revenue from clients in the health-related industry. Client industries include professionals (dentistry, medicine, optometry, chiropractic, physiotherapy), financial (insurance, real estate broker, insurance broker), investment, manufacturing, optical, pharmacy, and other service-related companies. Basically, a recession-proof group of businesses including many high net worth clients and families. Cash flow to owner is an exceptional 80%.
Client relationships are the key to this practice. Business experience is important as is a willingness to effectively listen to a client in order to properly service them. The clients are busy people who want to know that someone is looking after them. The firm has a reputation for quality service and responsiveness. Clients continue to refer within their respective connections and industries.