Practice For Sale In Northern Coastal South Carolina

Price: $1,100,000

Location: Northern Coastal South Carolina

Industry: Accounting and Tax Practices

Listing ID: 06

Listing Status: Under Contract

Description

Business Description
A two-partner firm located in Northern Coastal, SC. The firm has one manager with strong ties to the community and is socially active soliciting clients.

Client Mix

Accounting
7 Monthly Clients - $42,000
13 Quarterly Clients - $39,430
2 Annual Clients - $1,000

Income Tax
724 Individuals - Average Fee $508.00 Total - $367,817
292 Businesses - Average Fee $1,261.00 Total - $368,214
58 Other - Average Fee $500.00 Total - $29,000

3 Reviews - $12,000
Sales Tax - $22,140
Payroll Deposits - $107,924
License/Property Tax - $205

Total Gross (Cash Basis) - $1,014,915

Asking Price - 1.1x Gross

Due to the predominantly tourist nature of the location and no one industry concentration, the firm is diversified. Eight of the top eighteen clients are involved in restaurant & hospitality business. The firm also provides service to clients involved in the construction industry. The firm’s senior staff is strong (two senior partners, one manager, one senior), and we recommend the retention of the full staff by the successor firm. The firm’s building is owner occupied with no formal lease.

LISTING DETAILS

Total Sales: $1,100,000

Cash Flow: N/A

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LISTING BROKER

Todd Steinberg

Todd Steinberg