CPA, Tax, and Accounting Practice for Sale – 2-Office Northern New Jersey – $450,000 Revenue
Overview
ABA Advisors represents this CPA, tax & accounting 2-office practice located in northern New Jersey. There are two Partners and staff who are expected to continue with the new owner. This continuity should aid a smooth transition and client retention.
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The Practice
Founded in 1999 this firm has a good history, strong average fees, and represents an opportunity for the right buyer to establish or expand their firm into Bergen and Union counties where most of the firm’s clients are located. There are some 1040s that are out of state. The firm is not paperless. 20% of clients drop off their returns, 30% of clients use mail / email / portal and 50% of client returns are processed while they wait. The firm does not use engagement letters.
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Northern, NJ Market
The sale of this firm presents an opportunity to acquire a CPA firm with solid average fees and support staff. The surrounding region combines higher-income households, established residential communities, and a broad business base, providing an attractive setting for client retention and future business development. For a buyer seeking to expand an existing firm or acquire a practice of their own, the locations offer opportunities to cultivate local referral relationships and pursue additional tax, accounting, and advisory engagements. Similar firms in the area have been selling for multiples of 1.1 -1.25 times gross revenue, plus furniture and equipment. Details of the asking price for this firm are outlined on the last page of the sales memorandum.
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Business ID# NJ-2171
