Asking Price: $2,100,000

Colorado Springs, CO

Non-Disclosed Seller

March 22, 2023

Growing Accounting Business

Asking Price: $2,100,000

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:

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


The information in this listing has been provided by the business seller or their representative. BluSpace has no ownership in the sale of this business and has not independently verified the accuracy or completeness of this information. We are not responsible for any errors or omissions.