Tax and Accounting Practice - 3000+ clients

Newton, MA
Tax Accounting Firm
Asking Price:$995,000
Gross Revenue:$1,000,000
FF&E:$10,000
Cash Flow:$320,000
Rent:$4,000/Month
Established Year:1974
BUSINESS DESCRIPTION

Tax and accounting firm for sale in the greater Boston area (near but not in Newton MA). They provide tax preparation services for individuals, corporations, partnerships, fiduciaries, non-profit organizations and estate returns. They also provide bookkeeping services for clients, process quarterly payroll, sales and meals tax filings and deposits. The business prepares over 3000 tax returns per year.

The firm has been providing tax and accounting services for more than 50 years. As a result, they have not found a need to advertise as they have grown organically with their area customer base and word-of-mouth referrals. The firm is a very profitable business with a loyal and hardworking staff and a large client list of repeat customers.

The firm is currently undercharging for their services and there is an obvious opportunity a new owner to raise rates across the board and significantly increase the profitability of the business. Acquiring this tax and accounting firm is a rare opportunity for very profitable returns for the new owner.

We have so much more information about this business that we want to share with you including a full summary and revenue expense breakdown. But this is a very confidential listing. So, in order to share the details with you we will need you to fill out the "Contact the Seller" area on this page and provide the requested information. You will be asked to sign a non-disclosure agreement.


DETAILED INFORMATION
Location
Newton, MA
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
1,775
Employees
6
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
The company rents a 1775 square-foot office in this town next to Newton, MA. There is no lease. A new owner is expected to be able to lease the same space at a comparable rate. He/she would have to discuss the lease terms with the landlord. The rent is currently $4000 per month.
Competition
There is a shortage of accounting services available in the community and the business regularly turns away new customers because they can't handle the additional volume.
Growth & Expansion
A new owner could DRAMATICALLY increase revenues and profits in the business simply by instituting an across-the-board price increase. After you sign the NDA for this business, you will receive a thorough marketing piece (CBR) which details this opportunity.
Financing
Business is pre-qualified for SBA loan financing and might qualify for standard comme
Support & Training
The owner is retiring and will be able to provide a transition period with the acquirers of the business. The owner expects to be paid a market-level salary during this time.
Reason for Selling
Retirement
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Peter
Goodman
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Peter Goodman