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Practices/Fees for Sale or Purchase

890+ I RETURNS & 50+ BIZ

The practice is family operated by husband and wife team. Operated approx. 10 years, 5 minutes from Sydney international airport. Over 890 individual clients, and 50+ business clients. Strong brand and company name (not based on our family names, was planned to be a franchise system, this will be included in sale, depending on agreed terms/pricing) There is also approx. $20,000+ in prior year tax returns to be lodged as not all the 2016 clients lodged, BUT are still current clients on tax agent portal! Gross sales to date $247,000. Average fees for companies $2200 annually. Average per Individual $143-155. Average client age being just 39 years old, (Tradies/police/nurses/professionals/lawyers/sales reps/ IT/retail/managers) Also, conservative: Minimum 15 persons asking to start SMSF, min 10 persons to open trusts, and at least another 2-3 people asking for loans monthly! No business loans on bal sheet. 1 Car lease (to be paid off). We only offer personal tax returns and small business services to date, there is ROOM to improve and increase! The working directors do earn approx. $15k annually in commissions from banks also as one off payments, so this is a bonus! The business has no secondary services such as legal, financial planning, home loans, insurance brokerage etc. so presents a great opportunity for clients to have other services offered and hence much greater returns for the buyer. We are considering selling for a couple of reasons, first of them being for health reasons, we were both involved in a car accident November 2016 and unable to manage effectively since, And primarily because of this incident and a few other personal reasons, we have had a change of heart and deciding that we may need a change of careers, and thankfully we have 2 opportunities awaiting, so we will move to bigger and better things for the family overall. We would prefer a WIWO sale, but will be open to a 2017 transition also (2 x P/T) so we are open to offers, and happy to have all info presented as required. The Current lease is month to month, but landlord ready to offer new lease if requested, $420 per week, or can more to new premises or merge with your current premises. This scenario would suit someone who wants to grow the business and add on his/her client base, saving many years of building the business to this level. Although if you already have a practice, this will be most beneficial, as you will save on reception wage, rent, and parts of other outgoings. So based on sales $247000, adding these clients to existing practice, you could see over $200000 in profits! If the buyer was to take over or start at new premises, would still be at least 50% profitable! and if you offer other services to the clients, such as loans/advice/SMSF/trusts etc (estimate 2% of the clients), then you will have a chance to increase sales in this cross marking to another $180k+! you could have this turn into a $420,000 gross sales scenario. Our clients are extremely loyal and we will do our very best to ensure high client retention for the new buyer! If you have any questions, or yet feedback, please don’t hesitate to contact anytime! (prefer email) Thank you RA & GH

Location: St George Area, NSW

Fees: $250,000

Practice Type: Tax Agent

Services Offered:

  • Business Service/Tax Compliance

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