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Online Canadian Virtual Bookkeeping, Tax, CFO Consulting Practice
SOLD
Listing #: ON1111
Location:
Type: TAX BOOKKEEPING COMPILATION PAYROLL Other
Annual Revenue: $982,929
Asking Price: $1,375,000
| Presented by: |
 |
| Sonia Albert |
| Toll Free: 877-606-8622 |
 |
| Alan Liverman |
| Office: 514-819-8088 |
Description:
Alan Liverman is pleased to present:
•An Ontario, Canada based VIRTUAL very diversified Bookkeeping, Tax (T1/T2), CFO Consulting practice as well as many other services. Buyers must be familiar with Canadian GAAP and various Provincial and Federal tax laws
•Sale structure: share sale
• 2022 gross revenues were $982,926 and YTD June 30, 2023 billings $498,000
•Practice has seen very consistent growth since inception
•Steady monthly revenue stream
•Currently 50 bookkeeping clients at an average fee of $8,210 pa; 60 corporate T2 clients at an average of $1,550 per T2; 150 personal T1 clients at an average of $350 per T1; Payroll services revenue of $19,350.
•The Company acts as a Virtual CFO and offers various services such as financial forecast modelling, investor relations, banking relations, signatory in some cases, financial reporting & analysis, board packages, board meeting attendance. Annual revenues for this category are $284,000
•Other revenues include Startup Business Services, Software sales, SRED Consulting, System Implementations, ($100,000 pa)
• Software in use: XERO, Ignition, XPM, DEXT, PaymentEvolution, Hubspot
• Incorporated in 2015
•No premises, 4 F/T employees in Canada including owner , all who work remotely from home and 3 F/T located in India including a senior team leader.
•An Ontario, Canada based VIRTUAL very diversified Bookkeeping, Tax (T1/T2), CFO Consulting practice as well as many other services. Buyers must be familiar with Canadian GAAP and various Provincial and Federal tax laws
•Sale structure: share sale
• 2022 gross revenues were $982,926 and YTD June 30, 2023 billings $498,000
•Practice has seen very consistent growth since inception
•Steady monthly revenue stream
•Currently 50 bookkeeping clients at an average fee of $8,210 pa; 60 corporate T2 clients at an average of $1,550 per T2; 150 personal T1 clients at an average of $350 per T1; Payroll services revenue of $19,350.
•The Company acts as a Virtual CFO and offers various services such as financial forecast modelling, investor relations, banking relations, signatory in some cases, financial reporting & analysis, board packages, board meeting attendance. Annual revenues for this category are $284,000
•Other revenues include Startup Business Services, Software sales, SRED Consulting, System Implementations, ($100,000 pa)
• Software in use: XERO, Ignition, XPM, DEXT, PaymentEvolution, Hubspot
• Incorporated in 2015
•No premises, 4 F/T employees in Canada including owner , all who work remotely from home and 3 F/T located in India including a senior team leader.
Owner has purposely staffed up to increase available capacity with current team to rapidly expand.
•Owner is CPA, employees not designated
•Everything is in place to significantly grow this virtual practice for the right buyer
•Owner is CPA, employees not designated
•Everything is in place to significantly grow this virtual practice for the right buyer
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