Description:
This well-established CPA practice is located in the Sioux Falls area and produces annual gross revenue of approximately $512,000. The practice is highly-profitable and yields exceptional cash flow to owners of about 80% of gross. It provides a range of quality tax and accounting services to a loyal client base that includes a large number of business clients that should provide for continued growth through referrals and opportunities for expansion of services. In fact, the South Dakota market remains strong with minimal impact through the ongoing Covid pandemic and the practice continues to experience steady growth. Revenues are derived primarily from tax work (81%), but there is also a fair amount of accounting services (8%), payroll (7%) and miscellaneous consulting services (5%) to provide year round income. This practice would be the perfect size and opportunity for another established firm looking to expand within or into the Sioux Falls area. It would also be an opportunity for an experienced CPA ready to transition into practice ownership. The partners are flexible and would be willing to work with the buyer through an extended transition period, if desired, to help ensure a smooth transition and maximum client retention.