Practice for Sale

State: California - Northern

County: San Mateo

City: Daly City area

Status: Sold

Annual Gross:  $434,000

This is a bookkeeping practice that solely provides bookkeeping and related services. The revenue listed is for the 12 months ending June 30, 2018 and, in that period, the primary service was monthly bookkeeping to approximately 53 clients which accounts for 87% of the annual revenue. The practice also provided add-on services to these clients in the form of payroll services to 17 of the bookkeeping clients (7% of revenue) and accounting projects for 18 of the clients (5% of revenue). The practice was founded in 1999, has a great reputation and a hard working staff of four in addition to the owner. The profitability is very strong for a bookkeeping practice and the seller believes this could be a great opportunity for a CPA in the market to pick up a very strong volume of monthly revenue with the potential to add a large volume of tax and additional services revenue to the mix. The Seller plans to retire but wishes to see a successful transfer of the business and clients to the Buyer, so will be available to support the Buyer through transition.

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