$1000 per month
Fully staffed CPA firm for sale in Peoria, Arizona. This firm has 3 incredible employees that are tenured, trained, and familiar with client facing activities. The principal believes all three will transfer with the sale. The firm billed $606,000 in 2022 and carries a 50% cash flow margin. Approximately 70% of billings were related to tax return compliance and roughly 30% earned from regular monthly bookkeeping and accounting clients. This is an excellent starter practice without major complexity and a really nice mix. Roughly 60% of the revenue comes from business entities including monthly bookkeeping revenue of $14,500 which helps to keep the firm in the green all year long and helps to provide working capital during the early stages of the transition. The principal owns the building and will create a low-cost lease at the existing location or this firm can be relocated within reason. The principal will stay on to help with the transition and can act as an overflow for production work providing a 40/hours per week maximum through 4/15/24.
2 full-time & 1 part-time in addition to the owner
The purchase price includes all the FF&E present within the office.
The principal owns the building and has carved out space for the firm to operate. He will create a low cost lease for the first year or the firm can be relocated with reason. The office is located in Old Town Peoria. Major investment by the city into revitalization of the Old Town area has been made which will serve to attract additional retail, shopping, restaurants, concerts and other attractions.
The principal has been limiting growth as he approaches retirement and no longer accepts new clients unless its a referral. Even then, the principal is sitting on lots of new bookkeeping opportunity and the corresponding tax return revenue. Just waiting to hand this off to the new owner. There is HUGE opportunity for growth in this firm!
The firm will qualify for SBA or conventional financing as it has plenty of cash flow to service the debt and pay the new owner a great wage. The principal is also willing to carry 20% of the purchase price in a seller carry promissory note that is subject to earnout provisions related to client retention. This is a big offer as it protects the buyer from clients that do not transition up to 20% of the firms purchase price.
The principal will provide 80 hours of familiarization services for the new buyer free of charge. Familiarization is designed to familiarize the buyer with the staff, the clients, the process and includes joint meetings and introductions.
The seller would like to focus on his real estate investments and begin to slow down on his way to retirement.
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