Draper Hinks has worked through many summers and we have found the cycle to be the same each year.
Sellers of accountancy fees often take a long time to decide that they want to sell their fees. Some take longer than you think possible. Those that are very keen to sell but have staff are hard pressed to do anything in the months of July and August. It can be frustrating to make your mind up that you want to sell your practice where you just want to get on with it, but are thwarted by the time of year.
All members of staff will take a summer holiday at some point. That leaves the rest of the staff having to cover for their absent colleagues. The knock on effect is that the vendor is then unable to dedicate the time to get the process started for selling fees. It is a case of all hands on deck.
So, buyers please be patient. Vendors will come back to the market after the summer season is over.
For vendors also please be patient, we will be here to help you to find a suitable buyer for your fees when you have your full complement of staff back and been able to find the time to talk to us.
However, should there ever be a need for a seller to sell such as a couple of cases we have been involved in recently, where in one case the vendor had died or where the vendor had had a serious heart attack, then we will search for a buyer for you whatever the time of year.
FYI the vendor that had a heart a attack is getting much better now that he is close to completion on the sale of his practice. His wife, a teacher, stepped in to deal with the sale because he was unable to deal with anything. With our help we have found a buyer that can move quickly on the deal despite being the summer holidays.
Please remember if you are thinking of selling your accountancy practice or buying fees, then contact me, Nicola Draper on 01788 816440 or email me at firstname.lastname@example.org.
Everything discussed will be kept in the strictest of confidence.