Mornington Peninsula

Accounting Practice

ID: 364

$595,000 Fees

This long established one Principal accounting practice of 25 years is in an attractive location and has a strong reputation in its local market. The practice has grown consistently driven by referrals and has recently added a bookkeeping service which generates just over 10% of fees. Profitability is solid and there is a quality client base of long-term primarily small business clients and several multi-generational family groups. WIP and debtors are both well managed. The Principal is supported by a proactive, multi-skilled and capable team with good client relationships who are available to transfer to the purchaser. The practice premises have space for an additional 3-4 people or the practice can be relocated 10-15 kms. Further opportunities exist through proactive marketing and offering greater levels of business advisory. This opportunity could ideally suit either a sole practitioner or a 1-2 Partner firm looking to expand. 

Reason for sale: The Vendor, aged in their sixties, is transitioning to retirement.