Business Insights Report
Deal Overview
EBIT
$303,817
Revenue
$881,886
Client Numbers
829
Terms
Asset Sale
Price
$1.3 Million Plus
Summary Statistics
Age Demographics
Business Details
Business Overview
Founded in 2008, the business for sale operates a practice services 86 Financial Planning and 743 Accounting clients and is located in Eastern Melbourne on the doorstep of the Victoria’s Yarra Valley. The business consists of one principal adviser, two consultants, one accountant and one Receptionist/Administration. The practice's FP clients have an excellent age demographic with 68.4% of revenue generated from clients aged below 70.
Summary Statistics
86 Financial Planning Clients
743 Accounting Clients
$881,886 Gross Revenue in FY23
$192,153 of Financial Planning Recurring Revenue in FY23
$586,734 of Accounting Maintainable Earnings in FY23
$56,685 of Ongoing Risk Commissions in FY23
$33.5 Million of Funds Under Management
Business Opportunities
The businesses different divisions are co-located with each other and offer a one-stop shop for accounting and financial planning. This has been, from the outset the goal of the vendor to provide service to the people of the Yarra Valley and outer east and generating internal deal flow between the businesses.
The business has strong ties to Mortgage Brokers based in the Dandenong Ranges as well as two local lawyers in Lilydale and Mooroolbark. There is an opportunity to further develop these relationships and secure further quality business leads and opportunities.
With the establishment of a new housing development in very close vicinity, there will be an extra 10,000 homes built offering the Purchaser of the business an opportunity to further grow the business.
Reason for Sale
The vendor seeks to transition to retirement.
Transition
Both principals are open to remaining with the business during the retention period and beyond.
Terms
Asset Sale
Price Required
Indicative offers subject to due diligence are invited, we expect offers to be around a multiple of 1 times accounting maintainable earnings, 3 times financial planning recurring revenue and 2.5 times ongoing insurance commissions and above.
Purchase Price ~ 1 x $587,000 + 3 x $192,000 + 2.5 x $57,000 = $1,305,000
The purchase price will be based off the rolling twelve-month Recurring Revenue figures at completion of Due Diligence.
Staff
1 x Principal Adviser
2 x Consultants
1 x Full-time Administration staff
1 x Accountant
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