Gross Revenue: $725,000
Location: NorthEast, New Jersey
Industry: Accounting, Tax Preparation, Bookkeeping and Payroll Services
Listing ID: NJ-2125
Listing Status: New
Overview
ABA Advisors represents this CPA firm located in the western Union County, NJ area. The owner is a CPA and wishes to find a buyer for the firm. The owner is willing to provide transitional assistance to ensure a good handoff of clients and staff. The owner feels the buyer should be a CPA. Owner and Senior CPA wish to continue working in the practice on a reduced per diem basis.
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The Firm
The firm is paperless with most of the firms' clients located in Morris, Somerset and Union Counties, NJ. There are some out-of-state 1040 type clients in FL, NY, PA, CA, CO, CT, MA & SC. 85% of the clients either mail, email, or use the portal to upload their information. Only 15% physically drop off their information to the firm. Client demographics are estimated to be as follows: Under age 30 = 5%, 35 to 50 = 20%, 50 to 75 = 70% and 76+ = 5%. The firm also uses engagement letters. The seller believes a buyer could relocate the office buy would suggest doing it after 1st season unless buyer is local. The buyer of this firm must be a CPA.
Reason For Sale: Seller is of retirement age.
Training & Support: Seller is willing to provide transitional assistance to the buyer to assist client retention. Staff are NOT aware of the sale and it is believed would likely transition to the new owner.
