We did expect there to be a slowing down of the buying and selling of accountancy practices during lock down and that was exactly what we found.  However, some things have changed:- Sellers meeting potential buyers Some vendors have insisted on meeting potential buyers face to face.  This can only be done where social distancing is able to take place.  …

At Draper Hinks we specialise in facilitating the buying and selling of accountancy fees.  We have many more buyers than sellers.  As soon as we get an accountancy practice to sell we sell it. Below is a list of buyers that we have in the Midlands area.  If you are thinking of selling all or some of your fees then …

Draper Hinks is a business brokerage, we facilitate the buying and selling of accountancy practices.  Sometimes we will sell the whole accountancy practice and other times we will sell a tranche of accountancy fees.  Whatever we are selling, we follow the same process.  We collate information about the fees for sale, we contact potential purchasers, we arrange for the buyer …

Draper Hinks has been closed for the best part of three months.  On the 15th June it opened its doors again to new business. Unlike all accountants, our business fell off a cliff.  99% of our deals were postponed indefinitely.  We had one completion at the end of March and one completion at the beginning of May.  Other than that, …

At Draper Hinks we facilitate the buying and selling of accountancy practices.  We do not deal in any other type of business.  We will deal with the buying and selling of tranches of fees, parts of practices and whole practices.  Some general business brokers will get involved in the buying and selling of accountancy fees, but they are not specialists.  …

In Spring of last year we started marketing a practice in the North West of England.  It was a general practice with turnover of £225,000.  The fees were primarily compliance so it was deemed to be all Gross Recurring Fees (GRF).  We sent out a mailer to buyers in the area, posted it on our website and dropped it into …

As most of our readers know, we only deal with accountants in practice.  I am often asked why only accountants and I reply because there are enough accountants in practice looking to sell fees to keep us busy.  Admittedly, we do have a quiet time in January each year, but that gives us the time to review our marketing strategy …

It is the first of November and so far we have had our best year ever, both from the point of view of the number of deals and the increase in turnover. Did you know that some brokers charge their brokerage fee to both the buyer and the seller?  At Draper Hinks we charge our brokerage fee to the buyer.  …

We moved into the office on Wednesday 4th September which was three weeks ago.  We have had the whole of the building decorated, new carpets, new lighting, new blinds, new loos, new computer “stuff” and pre-loved furniture. We suffered from no phones, phones that didn’t work, phones that sort of worked and now phones that work fine.  We had no …

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 …