February Newsletter 2022

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 I am excited to announce that, since inception, we have completed over 350 deals.

We are very proud of our track record and our reputation.  Please feel free to contact me anytime at n.draper@draperhinks.co.uk with any questions.

What will 2022 bring for buyers?

The marketplace picked up in 2021, but there was a downturn in the number of practices sold.

In 2022 this should change.  Many accountants are worn out from having to deal with Covid 19 related enquiries and we have spoken to a lot of them that have fallen out of love for the work they are doing.  Increased stress has been a big factor over the last 2 years.

We also have MTD on the horizon, which will bring a lot of accountants to the marketplace who will not want to have to deal with integrating MTD into their daily routines.

How will this affect you?   More practices should come on to the market so please keep an eye on our website where you can find all the practices we have for sale.

Practices for Sale

Reference Area Amount Description
486/220201 Bedfordshire £170,000 Vendor looking to retire. Leasehold premises, £12k p.a. Ideally buyer to take on premises. Buyer needs to be qualified.
487/220201 West Midlands £650,000 3 Dirs – 2 retired, 1 wishes to stay on in some capacity. Premises available for rent if required. Buyer must be Chartered and Audit registered.
489/220201 Northumberland £890,000 2 partners looking to retire.  Buyer must be Chartered or Chartered Certified, Audit registered & have experience in agricultural sector.

This is a case study from a practice we sold in 2021:-

Fees sold £329,420 Where Yorkshire
Qualified FCA Age 62
Time scale 7 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 40%, 30%, 30%
Multiple 1.1 x fees When paid Comp, 12 months, 24 months
Offers 2 offers Office & staff Staff kept, office closed
Results Vendor worked handover then started new business


Here are two testimonials from vendors that successfully sold in 2021:-

Testimonial 1

Working with Draper Hinks has been excellent.  They are very experienced and efficient.  Their advice was very useful and the process was totally confidential.   I was worried about the suitability of the candidates but found a buyer that was the right fit.  I am now looking forward to not having the pressure of professional life.

Vendor – A C Drennan   FCA                         Derbyshire          

Testimonial 2

I found out about Draper Hinks through the chats on Accountancy Web which were all very complimentary.  They have been amazing and have provided a lot of invaluable advice based on a wealth of experience with selling fees.  The whole process was handled professionally.  I would be more than happy to recommend using Draper Hinks, they have a great network of potential buyers at their fingertips.  I am now going to take time out with my family and l am looking forward to not juggling so many plates.

Vendor – A Lloyd   ACA                                  Berkshire


Income Multiples Paid in the last 12 months

2021 Quarter Average multiple paid Lowest multiple paid Highest multiple paid Lowest multiple offered Highest multiple offered
Quarter 1 Jan – Mar 0.7983 0.4 (*) 1.1 0.15 (*) 1.25
Quarter 2 Apr – Jun 1.1 0.85 1.1 0.7 1.25
Quarter 3 Jul – Sep 0.995 0.6 (1 pmt) 1.25 0.5 (1 pmt) 1.25
Quarter 4 Oct – Dec 0.9475 0.8 1.25 0.8 1.25

(*) Vendor died, fees transferred on an earn out.  Work done for client and % of fee paid to the widow.

NB None of the above figures are to be reproduced in any way without express permission from Nicola Draper.



Please check out our website www.draperhinks.com where you can:-

  • Download our Guide to Selling and Buying Fees by registering for our eBook.
  • View lots of video testimonials.
  • Read our monthly Blogs that give regular market commentary.

Next step

If you are looking to purchase and would like further information on how we may be able to help you, please email us on info@draperhinks.co.uk