MergerPlace

Income Tax Preparation Service

South Carolina (Richland)


  • Asking Price: $229,900
  • Gross Income: $229,606
  • Cash Flow: $113,899
  • Real Estate: Not Disclosed
  • Inventory: Not Disclosed
  • FF&E: $5,000
  • Listing ID: #203127
  • Established: 1990
  • Employees: 2 FT/4 PT

Business Description

This acquisition consists of two separate, complementary companies. A Tax Preparation Service and a Tax Resolution Service. The companies are run out of the same location and have a common owner.

The Tax Service has had a rich history in Columbia, SC since the early 1990s. The Tax Resolution Service was incorporated three years ago to focus on another line of revenue.


Business Details

Primary Business Category: Services - Accounting & Tax
Location: South Carolina
County: Richland

Company Information

Year Established: 1990
Home Based: No
Franchise: No
Relocatable: Yes
Number of Employees: 2 FT/4 PT

Financial Information

Asking Price: $229,900
Gross Revenue: $229,606
Cash Flow: $113,899
FF&E: $5,000
Seller Financing Available: Yes

Property Information

Facilities:

The companies have been at the same location the past 8 years. They occupy 1,400 square foot office in a well-maintained strip mall, anchored by a regional grocery store and a bank that provide the ideal demographic pull. The layout is an open format with a separate area for the manager, tasteful cubicles for the preparers and a waiting area. The business has completed a long-term lease and is now renting month to month. A new lease will be negotiated with the landlord.

Growth & expansion opportunities:

This current marketing efforts are limited. This business can be increased by cultivating the existing base and an additional mail marketing campaign.

Competition:

Liberty Tax Service, H&R Block and Jackson Hewitt are nationwide franchises that have locations in the Columbia area. A Liberty Franchise is the closest competitor. There are some independent tax services within a 5-mile radius that are also competition.

Reason for selling:

The managing partner is ready to retire after nearly 30 years owning and managing the business. The partner lives out of state and is not active in the business.

Support & Training:

Will train for 4 weeks @ no cost. The Tax Service prepares individual and business tax returns. The Tax Resolution Service also incorporates minimal payroll and bookkeeping as add-on services.

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Business Listed By:

David Smith

Murphy Business Brokers