Potential Seller Newsletter #3 2020

Hello, I’m Nicola Draper.  I run Draper Hinks and have done so since 2004.  We sell only accountancy fees and have completed over 310 deals.

We are very active in the market place for buying and selling accountancy practices.  I deal with all the sellers, so if you are looking to sell in the near future, please email me at n.draper@draperhinks.co.uk

Nicola Draper founder Draper Hinks

 

 

Why you should sell your fees through Draper Hinks
*  We are good at what we do.

*  We have a national reputation for getting results.

*  We arrange for you to meet with a number of buyers.

*  We coach you on how to run the meetings, so you are in charge throughout the process.

*  We follow up the meetings, giving feedback to both parties.

*  We advise on what is a good multiple for your practice.

*  We give options on how you can get paid to maximise return.

*  We review all offers making sure they are market rate.

*  We oversee the process through to completion.

 

 

Talk to Nicola Draper about selling your practice

During lock down have you considered selling your fees?  Have you had enough and want to do something that does not involve accountancy or looking after clients and their needs?

Would you like to talk to someone with over 15 years of experience in dealing with these matters?  Nicola Draper would be happy to talk to you, in confidence, about your own situation and what options are available to you.  There may be things you have not considered that she can make you aware of.

Nicola will also run through the process of selling your fees and how to maximise your return while your staff and clients and looked after by the buyer.

If you would like to arrange a video call or a phone appointment to discuss your situation then please contact Diane Crawley, office manager, at d.crawley@draperhinks.co.uk or phone her on 01788 816440.

Here are three case studies of practices we have sold within the last 12 months:-
No. 1  
Fees sold £500,000 Where Surrey
Qualified FCA Age 64
Time scale 10 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 33.3%, 33.3%, 33.3%
Multiple 0.9 x fees When paid Comp, 12 & 24 months
Offers 2 offers Office & staff Office closed and staff transferred
Results Vendor worked hand over, now living abroad.
   
 

No. 2

 
Fees sold £250,000 Where Hertfordshire
Qualified FMAAT Age 64
Time scale 9 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 40%, 30%, 30%
Multiple 0.85 x fees When paid Comp, 12 & 24 months
Offers 5 offers Office & staff Office closed some staff retained
Results Vendor helped with handover then moved to the West Country.
   
No. 3  
Fees sold £200,000 Where Yorkshire
Qualified FCA Age 63
Time scale 7 months Type of Practice Sole Practitioner
Payment 4 tranches How paid 25%, 25%, 25%, 25%
Multiple 0.8 x fees When paid Comp, 12 & 24 & 36 months
Offers 2 offers Office & staff Office closed some staff kept
Results Vendor now happily playing a lot more golf.

Hello, I’m Diane Crawley and I am the Office Manager for Draper Hinks.  If you want to talk about selling your practice, then please contact me so that I may arrange an appointment for you. You can call me on 01788 816440 or email me at d.crawley@draperhinks.co.uk.

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 that were happy with the service offered by Draper Hinks in 2019:-
Testimonial 1

I heard about Draper Hinks from a marketing email and a Linked In contact.  I like methodical systems and there is certainly one in place here – very efficient and very clear.  My first impressions were that they were professional and friendly.  There was good communication at all times.  You should use Draper Hinks because they were discreet and targeted appropriately.  The most difficult part of selling my practice was deciding to do it. 

Vendor – Adrian Lawrence FAIA                           Yorkshire

 

Testimonial 2

I heard about Draper Hinks from a flyer in the post.  The initial contact was positive.  They were approachable and seemed to be talking sense.  Nicola was practical and communication was good. 

Vendor – Mitchell Langhelt  FCA                             Dorset

Testimonial 3

I heard about Draper Hinks through accountancy colleagues and journals.  Nicola was most helpful and made it all seem easy and straight forward.  She provided a lot of information.  It was a real pleasure to work with Nicola and her staff.  It is a very professional and friendly company to work with.  You need someone professional and experienced to turn to.  The process they follow is excellent and the service was second to none, nothing was too much trouble.  Don’t even think about doing it on your own.  It is too complex and you need a professional to guide you through the process and get the best price. 

Vendor – Linda Cotterill FCA                                      Worcestershire

 

 

Income Multiples Paid in the last 12 months

2019 Quarter Average income multiple paid Lowest income multiple paid Highest income multiple paid Lowest income multiple offered Highest income multiple offered
Quarter 3 Jul – Sept 1.1 0.6 1.4 0.6 1.4
Quarter 4 Oct – Dec 0.9125 0.7 1.1 0.65 1.2
2020
Quarter 1 Jan – Mar 1.075 0.9 1.25 0.9 1.25
Quarter 2 Apr – Jun 1.13 1.00 1.2 1.00 1.20

 

 

Hello, I’m Lisa Shenton and I am an Admin Assistant at Draper Hinks.  I am the person that normally sends out these Newsletters but at the moment I am furloughed and not in the office but my emails will be monitored while I am away.

I am normally the person to notify if you wish to continue to receive these newsletters or if you wish to stop receiving them.   You can still email me at l.shenton@draperhinks.co.uk stating you want to be removed from our database.  If on the other hand you would like to continue receiving them please can we have both your email and your consent to use it to send the newsletters to you electronically.

 

 

Lisa Shenton, Admin Assistant

 

 

Next step

Contact us if you want to discuss selling any fees.  Please get in touch with Diane Crawley at d.crawley@draperhinks.co.uk or call her on 01788 816440.