33-Year-Old Municipalities Accounting Software Business | Microsoft Access App | Majority of Clients Retained for Over 20 Years
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REVENUE
$136,850
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INCOME
$99,478
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MULTIPLE
3.02x
Asking Price: $300,000
Reading Time: 2 minutesNote about this listing: This business was under LOI for 60 days with another buyer. We have lowered the price and are looking for cash buyers who can close quickly. Consider this a first-come, first-served opportunity. The sellers would strongly prefer a stock sale.
This business sells accounting software to municipalities (cities, villages, and towns) and other nonprofit organizations. They have over 100 clients, most of whom have been with them for over 20 years. The target market has stringent compliance and reporting requirements, and this business offers an affordable, reputable product that meets those requirements. Revenue comes from new sales, recurring support, and updates.
This business is perfect for an accountant or bookkeeper who wants to work for themselves. The sellers spend 15–25 hours per week total on support and operations, leaving a new owner plenty of time to explore growth opportunities.
Marketing has been minimal, as the sellers have been content to live off of referrals. A buyer with some marketing acumen could unlock several clear paths to growth. The business currently follows almost no best practices for enterprise software sales. There is no PPC and no lead nurturing. Content on the website is relatively thin, and nothing is gated with lead forms.
Beyond marketing, a buyer can also add new modules to the product, expand to additional states, or add additional services. The software is a Microsoft Access application, so experimenting with a SaaS offering could reach a different clientele.
One of the sellers is retiring, and the other is ready for a new challenge. They’ve been running this business for over 30 years now and want to pass it on to a new owner. Due to the nature of the business, a new owner can expect 3–6 months to effectively learn the operations, though accounting experience could shorten that time.
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Brad Wayland
Brad Wayland is an entrepreneur who began working in the online space in 2003. He spent over a decade in the custom printing industry where he bootstrapped a business to millions in sales and over 100 employees. While honing his SEO skills in the print industry he spent much of his time learning other aspects of the web from traditional ecommerce, to affiliate marketing, to content. Eventually his love for content businesses led him to being a serial acquirer and he ended up on the buy side 26 times. A majority of his acquisitions were part of a rollup strategy he was pursuing. In 2015 he sold his content portfolio to private equity. Brad has experienced 4 successful exits from businesses he owned and operated. Brad joined the Quiet Light team in 2017 and has represented more than 80 successful transactions.
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