SOLD: This is a recession-proof business in a $65 billion industry-- great growth even in this economy. Plus tremendous upside growth potential for this name-brand franchise which operates multiple locations and has the ability to add 5 more locations. They offer tax prep services and refund anticipation loans. An exec mgmt business where the owner’s role is training, managing and mktg – working hard for 4+ months and pursuing other interests the other 7.5+ months. No tax experience required
| Listing No: MBFS-620204980 | *Contract Pending* |
| | |
| Category | : | Accounting | SIC | : | 8721 | |
| Detail | : | Tax Practice | Price | : | 992,000 | |
| County | : | Harris | Down | : | 248,000 | |
| State/Prov | : | Texas | Adj Net | : | 312,751 | |
| Country | : | USA | Sales | : | 957,609 | |
| Reason for Sale | : | Current owner pursuing other interests |
| General Location | : | Central Houston |
| Organization Type | : | Limited Partnership Hours Owner Works: 10 |
| | : | Years Established: 4 Years Owned: 4 Emp FT: 3 Emp PT: 60 Mgrs: 3 |
| Non Compete | : | Miles: 50 Years: 3 Weeks Training: 4 Cost: 0 |
| Operating dys/hrs | : | Seasonal M-Sat 9am-7pm or 9pm in tax season |
| Skills/Licenses | : | General Management; Manage People; Cust. Svc, No tax exp nec |
| Business is | : | Relocatable: N Home Based: N Franchise: Y Lender P/Q: N |
A Dozen Due Diligence issues with Accounting and Tax Practices for Sale in Texas
In addition to financial matters, a buyer interested in an tax or accounting practice for sale in Texas should consider discussing many of the following issues with the owner or their business broker:
How does the company build trust with customers?
Repeat business is vital in accounting practices.How does the firm keep clients?
What specialized services are offered?
Accounting and Tax practices can offer software consulting plus a variety of other related professional services.
Has recent legislation improved the business?
Financial and tax regulations are constantly changing. Has the accounting practice been able to take advantage of any recent changes?
Has the practice experienced and liability issues?
Accounting and Tax practices generally carry Errors and Omissions (E&O) insurance.
Geographically, how big is the market?
A local market typically has a radius of 20 or 30 miles.
What are the most effective promotional channels?
These can include advertising, direct mail or phone, and joint-promotions with other professional firms
What seasonality might be expected for sales?
Accounting and Tax practices are often heavily dependent on "tax seasons."
How does pricing compare to the competition?
What is the competition like from other independent or franchise operations?
What is the individual to business revenues break-down?
Business revenues may be more consistent than individual revenues.
What specific staff skills are maintained by the current staff?
This is especially important for CPAs and Enrolled Agents
What is done to reduce turnover?
Skilled and certified help may be difficult to find.
What technology might improve operations?
What software and internet services does the accounting practice utilize?
Resources for Texas Tax and Accounting practices for sale
Texas State Board of Public Accountancy
Texas Society of Enrolled Agents
How to Conduct Market Research (SBA)
Frequent Questions about Texas Sales Tax
Confidentiality Policy
As business brokers, we protect the identities of the businesses, the business owners and prospective buyers until we receive completed, signed Confidentiality Agreements and personal or corporate financial statements providing proof of the buyer’s financial competence to meet the down payment. We understand that the sale and purchase of businesses must be held in the strictest confidence to give the involved principals the opportunity to advise employees, customers and others of the transfer when they feel the time is appropriate
For additional information contact Bob Fariss
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