Accounting Practice for Sale

Henrico County, VA

Seller Financing Available
Accounting Practice for Sale
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Asking Price: $489,000

Cash Flow: $120,000

Gross Revenue: $540,000

EBITDA: N/A

FF&E: $10,000

Inventory: N/A

Rent: $3,500 /Month

Established: N/A

Accounting Practice for Sale

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Business Description

Located in Richmond, VA

This accounting practice serves business owners and industry organizations throughout Virginia. The firm has multiple revenue streams including bookkeeping, general accounting, payroll, and fractional CFO services. It does no tax work so would be a great acquisition for a firm that has a tax-oriented book of business. There are approximately forty clients that generate an average of over $10,000 annually per client. 80% of clients have been with the firm for four years or longer. The firm is efficiently staffed. The owner will assist in the transition of its clients to the buyer for a mutually agreeable time. The company does little to no marketing or advertising.

Detailed Information

Location:
Henrico County, VA
Real Estate:
Leased
Building SF:
3,000
Lease Expiration:
7/31/2021
Employees:
4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Location is leased in office complex.
Competition:
Operators in the Accounting Services industry offer a wide array of services, including tax preparation and compliance work, consulting assistance and bookkeeping and payroll. The industry has grown steadily over the five years to 2019, buoyed by economic growth, rising equity markets and an increasing number of new businesses. As revenue expanded, new accounting firms have entered the industry and competition has intensified. In an attempt to boost market share, the industry's largest players have increasingly acquired smaller companies strategically to heighten their service offerings to include ancillary consulting services. Overall, industry revenue is projected to rise at an annualized rate of 4.8% over the next five years.
Support & Training:
Seller will assist with transition of the business.
Reason for Selling:
Owner wishes to retire.
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Gavin Raphael

Business Listed By:
Gavin Raphael

Light & Raphael

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