Description:
This practice has been focused on small businesses and their owners who are located within 10-15 mile radius of office, saving clients more than they pay in fees. They provide tax and business advice and consulting services - no payroll, write-up, bookkeeping, or assurance services. There is a fixed fee arrangement for most of the clients recurring work. Clients mostly pay quarterly, some annually. They bill on an hourly basis for IRS audits, consulting, etc. Buyer should be located in the market area, close to or in current office would be ideal. Approximately 25% of the clients visit the office at least once when starting engagement but less as time goes on. The billing rate is $250/hr. The practice revolves around quality service and quality clients. The aim is value-add, i.e., providing more value than charged. The focus is not on volume or marketing to price sensitive clients. This approach resonates with a lot of small businesses, which is a very under-served market. The practice is growing rapidly, and the buyer will need hands-on involvement to ensure success.