The Company is a financial services firm, which provides financial consulting services to its clients. The Company was founded on February 6, 2006, as an S-corporation. The Company provides its services primarily to South Florida residents and business and its place of business is located at 7526 West 20th Avenue Hialeah, Florida 33016.
Products and Services
The Company's team is among one of the most talented in the industry, with over 25 years of service experience in the fields of tax preparation, accounting, financial and credit consulting and notary service. The Company target market consist of South Florida residents and small and midsize businesses of Miami-Dade, Broward, Collier, Palm Beach and Monroe Counties. The Company provides a wide array of financial consulting services to its target market which includes:
• Income tax preparation and submission
• Credit repair
• Real estate and mortgage consulting
• Notary service
• Investment consultant services
• Public adjusting
Earnings Basis and Client List used for Business Valuation
Small business valuation generally relies upon some measure of business cash flows as the earnings basis. The most commonly used earnings basis measures include:
• Seller's discretionary cash flow (SDCF).
• Net cash flow.
• Value of Client List
Business revenue growth has averaged 9% annually for the last 5 years of operations. The Company enjoys a large customer base of over 2000 clients with no single client accounting for more than .03% of its revenues. The Company customer list is valued at over $325,000 and the average value of revenue per client is over $164. Business is generated primarily through repeat engagements with existing clients as well as client and professional referrals. The Company revenues have been limited due to the lack of personnel, we believe that the company can easily triple its revenues with higher capacity to receive more clients. As a result, of the lack capacity the company was only able to serve around 26% of its client list.
Online website used for tax preparation for customers outside Florida, locally office is located in a residential/commercial area facing the 826 express way.
3 desk service area for myself, 1 assistant and 1 area for customer use with a waiting area.
other local mom and pop business in the area along with HR block, Jackson Hewitt and Liberty Tax.
With 2 more assistants the potential is 3x more income based on my 8 years of turning down work because I didn't have the man power to handle them during our working hours. In addition if you also allow walk ins there is potential for 5x more income.
Waiting are for 5+ customers
9 am - 9 pm for Tax season, (then by appt only for the rest of the year, 5 days a week P/T)
Support & Training:
The price of the sale includes my salary to stay on for the following tax season to introduce all my customers to the new owners. IN addition it includes the training of all employees and owners on the process for Tax accounting.
All money except my salary is up front. My salary is considered to be 50,000 and can be paid on a weekly basis once Tax season begins but must be pif by end of tax season. Tax season is Jan 15 - Apr 15 yearly.
Reason For Selling:
I have developed 2 new business ventures in a different area and can not handle all 3 businesses. Want to take this money and invest in my new businesses.