|Nicola Draper founder Draper Hinks||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 firstname.lastname@example.org
|Did you know vendors are still coming forward to sell
It can take a long time for someone to decide to sell their accountancy practice. We are often in discussions with vendors over a number of years. They go from thinking about it, to considering it seriously, to asking questions about it and then finally taking action to make it happen. The time scale can vary from many years to a couple of months.
This decision-making process cannot be hurried along by a broker or by a buyer. Vendors will take their time. But once the decision has been made, the vendor will typically want to sell quickly. That is where we come in, making the deal happen.
We will arrange meetings between buyers and vendors but we have no say in who the vendor chooses to sell to. The vendor will look for the right “fit” as well as a good price. Both are equally important. It is a naïve buyer who thinks it is all about price.
|Here are three case studies of practices we have sold within the last 12 months:-|
|Qualified||FCCA & FCA||Age||65 & 62|
|Time scale||6 months||Type of Practice||2 Partners|
|Payment||3 tranches||How paid||40%, 30%, 30%|
|Multiple||1.1 x fees||When paid||Comp, 12 & 24 months|
|Offers||4 offers||Office & staff||Office and staff retained|
|Results||Both partners retired, spending time with grandchildren and are much happier.|
|Time scale||9 months||Type of Practice||Sole Practitioner|
|Payment||Earn out||How paid||33% fees rec’d for 3 years|
|Multiple||1 x fees||When paid||Every quarter in arrears|
|Offers||2 offers||Office & staff||Office & some staff retained|
|Results||Vendor left after handover, now not doing any form of accountancy work.|
|Time scale||5 months||Type of Practice||Sole Practitioner|
|Payment||4 tranches||How paid||40%, 20%, 20%, 20%|
|Multiple||1 x fees||When paid||Comp, 6, 12 & 24 months|
|Offers||3 offers||Office & staff||Office shut, some staff kept|
|Results||Vendor doing more travelling, reading and generally enjoying life.|
|Diane Crawley, Office Manager||Hello, I’m Diane Crawley and I am the Office Manager for Draper Hinks.
I work primarily with all buyers. We have various schemes we can offer to our buyers so if we can help you to grow your business please call me on 01788 816440 or email me at email@example.com and I will be happy to discuss it further.
|Here are three testimonials from vendors that were happy with the service offered by Draper Hinks in 2019:-|
I heard about Draper Hinks from some direct marketing. I chose to use them based on an initial conversation with Nicola Draper and a combination of low cost, ease of process and the support and advice provided by DH throughout. Working with them has been easy. Draper Hinks are the experts in the field and were both helpful and cost effective. I would advise anyone to use Draper Hinks as they are the specialists.
Vendor – Robert Glover FCCA Barnet
I heard about Draper Hinks from the internet. They seemed experienced at selling fees. They did everything they said they would do and their “handholding” was excellent. They knew what they were talking about. The process they follow works. I would happily recommend them.
Vendor – Brendan Sugden FCA Yorkshire
I heard about Draper Hinks from a mail shot. They were brilliant and very professional. My first impression was excellent. The process offered was ideal and expeditious. The two main things that were good about Draper Hinks was their speed and efficiency. Anyone thinking of selling should use Draper Hinks for peace of mind and for their personal approach.
Vendor – Ian Dobson QBE Yorkshire
Practices for Sale
|390/200827||Oxfordshire/Berkshire||£700,000||Vendor retiring. Top 20 clients’ fees £207,500. 9 employees. Leasehold premises, preferably kept by buyer until lease expires June 2023. Buyer must be Chartered or Chartered Certified and be able to do audit. Meetings with vendor Tuesday, 22nd September.|
|388/200820||Buckinghamshire||£195,000||2 Partners looking for career change. 267 clients, mostly Sole Traders. Total of top 20 clients’ fees £45,905. 2 staff – 1 f/t, 1 p/t. Leasehold offices.|
|387/200818||Hertfordshire||£140,000||Vendor looking to retire. Total of top 10 clients’ fees £44,330. Buyer needs to be Chartered or Chartered Certified and audit registered. 2 staff – 1 f/t, 1 p/t. Offices leased on monthly basis.|
|384/200709||Tyne & Wear||£95,000||Vendor retiring. Total of top 10 clients’ fees £28,000. 2 full time staff. Premises available to buyer for purchase if required. Fees are portable locally. Buyer must be Chartered or Chartered Certified.|
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 – Sep||1.1||1||1.2||1||1.25|
|Quarter 4||Oct – Dec||0.9125||0.7||1.1||0.65||1.2|
|Quarter 1||Jan – Mar||1.075||0.9||1.25||0.9||1.25|
|Quarter 2||Apr – Jun||1.13||1.0||1.2||1.0||1.2|
Lisa Shenton, Admin Assistant
Contact us if you would like to register to buy fees. Please get in touch with Diane Crawley at firstname.lastname@example.org or call her on 01788 816440.