The seller acquired an established non-CPA bookkeeping firm in 2018 and grew it to more than double its original revenue. Since acquisition, the practice has been modernized, operationally improved, and relocated to a high-quality workspace to enhance both efficiency and client experience. 

Strong recurring revenue base across bookkeeping, personal tax, and corporate engagements, along with an established client base with long-term relationships. Continued investment in digital workflows and automation is expected to further improve efficiency and scalability.

Excellent cash flow to owner with a very low overhead.

Service breakdown:

• Accounting, Compilations and Bookkeeping services,  account for approximately 51% of revenue with 50 clients generating billings of approximately $345,000.

• Individual T1 returns account for 29% of revenue with 1,000 clients generating billings of approximately $200,000.

• T2 returns account for 15% of revenue with 55 clients generating billings of approximately $101,750

• Payroll is included in most bookkeeping engagements and reflected in bookkeeping revenue. 

• In addition, the practice serves five payroll-only clients generating 5% of revenues and billings of $35,000

Software used: Intuit Profile, Caseware, Sage50, Asana, easypay, QBO, MS365 Suite