Draper Hinks Newsletter
Issue 2 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 270 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 get in touch.|
Here are three case studies of practices we have sold within the last 12 months:-
|Time scale||4 months||Type of Practice||Ltd Co 2 Dirs|
|Payment||3 payments||How paid||50%, 25% & 25%|
|Multiple||3 x EBITDA||When paid||Comp, 12 months & 24 months|
|Offers||2 offers||Office & staff||Office and staff retained|
|Results||Vendors looking to spend more time with families and travelling|
|Time scale||4 months||Type of Practice||Sole Practitioner|
|Payment||3 tranches||How paid||50% 25% 25%|
|Multiple||1.05 x fees||When paid||Comp, 12 & 24 months|
|Offers||5 offers||Office & staff||Office and staff retained|
|Results||Vendor now working as a consultant for buyer bringing in more referrals and fees|
|Time scale||5 months||Type of Practice||Sole Practitioner|
|Payment||2 tranches||How paid||50% & 50%|
|Multiple||1 x fees||When paid||Comp & 12 months|
|Offers||2 offers||Office & staff||Office and staff not retained|
|Results||Vendor happy not to be involved with accountancy, now doing as he pleases|
Diane Crawley, Office Manager
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.
Here are three testimonials from vendors that were happy with the service offered by Draper Hinks in 2018:-
“I heard about Draper Hinks on Accounting Web. We decided to use Draper Hinks to sell our practice after reading the recommendations on Accounting Web and speaking to Nicola. We have found DH to be very good and professional. When speaking to them for the first time they sounded experienced and we were impressed with the help and advice. We were very pleased with the outcome.”
Vendor – Alan Forrester Devon
“I found out about Draper Hinks from contacting them on email. I got in touch with them after a recent sale went through in my area. First impression was that they were professional. The process offered was very good and they had a lot of useful information on their website. Confidentiality was very important throughout. If you are thinking of selling your practice you should use someone who has experience of the process.”
Vendor – Angela Brown South Coast
“I heard about Draper Hinks from receiving regular letters in the post over time. Having spoken to Nicola I had confidence in the ability of Draper Hinks to meet my needs and working with them was very easy. They answered all my questions and it was a smooth process. Nicola was on the same wavelength as me. She explained the process to me which seemed very simple. I didn’t have to be responsible for finding interested parties or selecting who to see. It was very helpful to have conversations with Nicola who explained it all. It was simpler than I thought it would be. All meetings were arranged by Draper Hinks and there was someone there to discuss everything with. Draper Hinks can contact a large number of potential buyers, guide you on what price to expect, select appropriate buyers, and act as intermediary for both sides. The hardest part was the hand over process. ”
Vendor – Alison Rogers Worcestershire
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 sold his practice through Draper Hinks on the 28th September 2018 and is doing consultancy work for the buyer.
“How time flies. It seems only moments since we decided to sell. But we have sold and worked hard at migrating our clients across in good order. I should be on a 3 day week by now but that has been moth-balled.
As they say “no battle plan ever survives first contact”. We got all the December deadlines complied with, had a short break over Christmas and New Year and returned to a back-breaking January. No matter how hard we tried the list of outstanding returns seemed to get longer and I must confess I was getting really worried that there would be a mass of penalties. We had everyone on the phone ringing and chivvying clients to pitch up. With a week to go it seemed to be impossible then in a blink they were done. We even had time to process one client who turned up with records at 3.30 pm on 31 January! There will be a couple who are late but they failed to respond to all our best efforts and accept that the fault is theirs. So I was pretty impressed.
There is a lot that needs to be addressed to ensure that our past relationship is maintained and the transfer of clients is a success. Come Autumn when all our clients have been “processed” I would hope we can settle down to that 3 day week, focus on client relationships and squeeze in the odd holiday or two. Meanwhile, whilst I am working harder than anticipated it is such bliss not having to be concerned with compliance and lots of red tape.
I’m enjoying the job again.”
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.