|Draper Hinks Newsletter
Issue 1 2019
|Hello, I’m Nicola Draper. I run Draper Hinks and have done so since 2004. We sell only accountancy fees and have completed over 260 deals.
We are very active in the market place for buying and selling accountancy practices. I work with all the sellers, so if you are looking to sell in the near future, please email me at firstname.lastname@example.org
|Nicola Draper founder Draper Hinks|
|Sell your fees – reap the rewards|
|Draper Hinks is a very successful business brokerage working only with accountants in practice. We cover the whole of England and sell practices and tranches of fees of all different sizes. If you are considering selling your fees then please get in touch.|
Here are three case studies of practices we have sold within the last 12 months:-
|Time scale||6 months||Type of Practice||Sole Practitioner|
|Payment||Earn out||How paid||25% paid over 4 years|
|Multiple||0.9 x fees||When paid||Quarterly in arrears for 4 years|
|Offers||1 offer||Office & staff||Office and staff retained|
|Results||Vendor stayed on full time post sale for 12 months then reducing over next 3yrs|
|Time scale||7 months||Type of Practice||Sole Practitioner|
|Payment||3 tranches||How paid||50% 25% 25%|
|Multiple||1 x fees||When paid||Comp, 12 & 24 months|
|Offers||2 offers||Office & staff||Office closed, some staff retained|
|Results||Vendor working on other business interests, unrelated to accountancy|
|Fees sold||£108,000||Where||West Midlands|
|Time scale||8 months||Type of Practice||Sole Practitioner|
|Payment||3 tranches||How paid||40% 30% 30%|
|Multiple||1 x fees||When paid||Comp, 12 & 24 months|
|Offers||2 offers||Office & staff||Office shut, staff transferred|
|Results||Vendor travelling, playing guitar, reading and having nothing to do with numbers.|
|Hello, I’m Diane Crawley and I am the Office Manager for Draper Hinks. If you want to meet with Nicola Draper to talk about selling your practice in confidence, then please contact me so that I may arrange an appointment for you. You can call me on 01788 816440 or email me at email@example.com.
I also deal with all the buyers for Draper Hinks so if you are thinking of buying fees please get in touch.
|Diane Crawley, Office Manager|
Here are three testimonials from vendors whose practices we sold in 2018:-
“Draper Hinks got in touch with me via mail shots in the post. I googled reviews after receiving the mail shots and found the reviews to be good. My first impression after making contact was very good. Nicola was very friendly and helpful. Communication was prompt. The process was efficient. It had all been done before and that put me at my ease. I would not have sold on my own. It was helpful to have the introductions made for me and to have the excellent telephone guidance from Nicola.”
Vendor – Ann Burnett Yorkshire
“I heard about Draper Hinks from a former colleague, who gave an excellent recommendation. I have found working with Draper Hinks has been relaxed throughout. First impression was their presentation was very clear with a no fuss no nonsense approach. We worked well together. They cut to the quick without flannel, keeping things on an informal basis. Selling through a broker ensured that potential buyers were presented with all the information they required.”
Vendor – Dave Pearce Cambridgeshire
“We had known of Draper Hinks for some time. We found them to be very professional and effective. They offer a very helpful, straightforward and quick service. Nicola is a woman of action. The process was tailored to our specific needs following a death in the practice. It is a far more effective use of time and resources to have someone do the background work for you at a very stressful time. It is also very useful to have someone who knows and understands the accountancy sector so well.”
Vendor – David Lakin Lancashire
|Meet with Nicola
Would you like to have a face to face meeting with Nicola Draper, to talk about your own situation in confidence? These meetings are free and you will get the chance to ask any questions that you may have about the process, market conditions, expected multiples, time scales, etc.
Nicola will be happy to have a meeting with you to discuss the sale of your practice, if you have over £150,000 GRF (Gross Recurring Fees) and are looking to sell these fees within the next 12 months. It is important that you are not already talking to another broker and do not have an existing buyer interested in buying your fees.
However, if you do not meet the criteria specified above, and want to sell fees below £150,000 GRF, we are still very keen to hear from you. In which case Diane will arrange a telephone or Skype appointment with Nicola. Nicola will cover all the same areas as a face to face meeting including any questions you may have. Please contact Diane to arrange an appointment on 01788 816440 or email her at firstname.lastname@example.org.
|Income Multiples Paid in the last 12 months|
|NB * One off payment offered.
** Small tranche of fees for sale in London, this was oversubscribed.
David is a newly retired sole practitioner doing consultancy work for the buyer.
“I can now work at what I enjoy without the constant worry and distraction of GDPR and the ever increasing red tape. I will soon be into my long awaited three day week and we will have our first proper holiday in years.
This has certainly been a good move. I am gradually acquiring the art of working with other people. I was surprised at how nervous I felt but it has been a good experience and everyone works hard and grumbles a bit.
Ok I am not a partner but I still feel responsible to the clients for a smooth transition. They are no longer my clients but I want to do my bit to ensure that they all receive the same kind of personal service they have been used to.
I imagine my experience has been pretty normal in that there have been things that could have worked out better. Being let down by the software company put immense pressure on everyone and has led to lots of overtime. But we have coped, made new friends and in a couple of weeks should be where we want to be.”
Lisa Shenton, Admin Assistant
|Hello, I’m Lisa Shenton and I am an Admin Assistant at Draper Hinks. I am the person that will be sending these regular Newsletters to you so look out for emails from me in future.
I am also the person to notify if you wish to update your records in any way so please let me know if you move office or change your email address. I can also remove you from receiving any future Draper Hinks correspondence.
Please email me at email@example.com.