Expandable Remote Bookkeeping, Payroll, and Business Tax Returns Firm with Monthly Contracts

This financial management company specializes in remote bookkeeping, payroll, and business tax returns. They offer 4 distinct administrative packages and aim to provide compliant, convenient, and effective financial services. The company has a client retention rate of about 90% and is primed for rapid scaling.

OPERATIONS

The company provides bookkeeping, catch-up accounting, consulting, training, payroll, invoicing & receivables, bill pay, and tax services. They use Zapier and Excel for their programs and employ 1 full-time bookkeeper and 2 part-time client managers. The current owners spend a total of 40 hours a week on administrative tasks and quality control.

The company provides financial services remotely, so their supply and logistics are primarily digital. They have systems in place to handle client information securely and efficiently.

MARKETING AND KEY METRICS

The company leverages Google My Business, Facebook, Instagram, and ReviewShake for lead generation. They plan to post more on social media, craft informative blog posts, and launch a well-thought-out Google Ads campaign to further expand their reach.

The company has grown through organic website traffic and minimal social media presence. They plan to expand their marketing efforts through targeted advertisements on platforms like LinkedIn and Facebook. Offering additional services such as budget consulting and profit analysis will also contribute to growth.

The company measures key metrics such as client retention rate, revenue growth, and customer satisfaction. They use these metrics to track the effectiveness of their services and make informed business decisions.

The company’s customer base consists of small businesses that need help with bookkeeping, payroll, and business tax returns. They target businesses that may not have the financial knowledge or resources to handle accounting internally.

BUSINESS MODEL & RESOURCES NEEDED

The company has 2 owners who handle workflow, task delegation, automations, new client onboarding, and month-end financial reviews. They also have 1 full-time bookkeeper and 2 part-time client managers.

THE INDUSTRY

This company operates in the financial services industry. As businesses move online, remote financial management becomes more lucrative. The company offers services to small businesses that may not be financially savvy and helps them scale. The virtual economy is growing, creating a need for remote financial services.

OPPORTUNITIES TO SCALE

The company has opportunities to scale by providing additional services related to financial management and scaling preparation. As the virtual economy expands, remote businesses will require more financial services, making this business well-positioned for growth.

Asking Price: $350,000
Gross Income: $143,308
Cash Flow: $91,073
Year Established: 2017
Employees: 4

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Amanda Stanley

Amanda has been a professional writer since 2010. She writes during the day and reads by night. She has accumulated knowledge by scouring the internet and reading informative books. Concurrently, she developed a passion for educating people through her blogs and web tutorials. She is an earnest believer that knowledge is power.

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