Business Description

Great Client Management, Business Development, and Operations

The owner of a growing accounting business founded in 1987 in Colorado is exploring the transition of her firm to a new owner(s). She will retire and focus on personal projects. It is expected that the owner and 11 team members will remain with the firm to ensure a successful transition.

The business will achieve revenues of $1.910 million in 2022 (projected based on 6 months of data), an 11% increase over the 2021 figure of $1.721 million. The revenue breakdown is:
* 45% from recurring compliance services to 315 clients;
* 46% derived from tax services (1,617 returns completed as of June 2022, 1076 returns on extension and 165 returns in progress); and
* 9% from ad hoc advisory services.

In 2021, the 8 fee earners averaged $215,195 of revenue produced.

Good systems and processes in client management, business development, and operations mean the business is not dependent on any one individual.

About the Clients:
* Industries served: Personal Services, Construction, Real Estate, Professional Services,
S Corporations, Partnerships, C Corporations, Non-Profit Corporations, Individuals, Estates & Trusts
* Revenue from business clients is 60.29% of total revenue. Individuals and others represent 39.71% of total revenue
* Most client relationships are entirely managed by the team (versus the owner who manages a few client relationships)
* No single client represents more than 2% of total revenue

Tax Software:
Drake

About the Owner and Transition Plans:
* Owner Age: 58
* Ownership percentage: 100%
* Short term plans: develop and implement exit strategy while continuing to operate and grow the firm
* Post-transaction plans: continue with the business to ensure a successful transition and then pursue other projects

Detailed Information:

Gross Revenue: $1,910,000

Location: Colorado Springs, CO

Real Estate: Leased

Rent: $3,764

Building SF: 3,100

Lease Expiration: 12/30/2022

Employees: 11

Established: 1987

Reason for Selling: Owner to retire