Accounting Tax And Financial Services For Sale

Business description

Overview

This is a self contained accounting and tax practice situated in one of the most picturesque parts of Victoria. It is the only accounting practice in the township to the south east of Melbourne. Established by the current owner in July 2002, it has grown steadily since then and is poised for additional growth with the recent addition of a financial services division. Fees have grown by 175% over the last four years and are realistically budgeted to increase by almost 20% in the year to June 2009.

Client retention is not seen as a significant problem.

Owing to its location, the practice is not seen as transportable and would suit a practitioner seeking a sea change or a larger firm wishing to establish a satellite office. Under the latter circumstances, it would not be necessary to have the principal present on a regular basis.

The current owner is selling the practice to undertake major travel or re-location.

Operation

The business operates out of leased premises. The lease expires in May 2009 and there are two options of renewal for three years each. The premises are largely open plan, with a reception area, a general office, a separate meeting room and the usual kitchen and toilet facilities. The location is off the main street in an area with other professional offices, a post office and bank. There is ample parking.

The premises are 72 square metres in extent.

All equipment is up to date and in good working condition and is INCLUDED in the asking price.

Client mix includes tradespeople, retailers, individuals, tourism based businesses and a local bank.

Payment terms are 14 days from invoice and this is generally adhered to. IT returns must be paid for in advance if the ATO is refunding direct to the clients’ bank account or if no refund is due. Refund cheques are held until the account is paid.

Management and Staff

Personnel are as follows:

o Owner/Principal Accountant


o Graduate Accountant


o Administration Assistant


o Bookkeeper



Transfer

The owner will grant a generous handover period, if required, to ensure a smooth transition of ownership.



To receive ADDITIONAL INFORMATION on this business, please contact Steve Lentin:

Telephone (03) 9569 2883
Fax (03) 8677 0868
Mobile 0419 910 099
Email stevel@accordbrokers.com.au.

Property information

Real Estate:

Lease

Lease terms:

2 Years to run with 2 x 3 year options to renew

Location:

Professional Precinct

Other information

Expansion potential:

Good

Competition / Market:

Nothing close by

Support & training:

Reasonable hand over period

Reasons for selling:

Relocation

Trading hours:

5 Day Week. Normal Business Hours

Furniture / Fixtures value:

$20,000 (included in the asking price)