A very recent case study

At the beginning of March this year, Draper Hinks was referred to a case in the North East of England where the owner had to sell his accountancy practice as a matter of urgency.  Here are the bare bones of the case:- Fees less than £50k. No website. Sole practitioner. No staff. Worked from home. Paper based. All cost savings …

Is Keyman Insurance Relevant?

In this age of the Coronavirus Pandemic, more people are looking at their mortality and what to do if they die.  (See previous Blog) But I have had a really interesting conversation with a vendor recently.  He was selling a practice where the buyer had offered to pay three tranches over two years.  This is the most usual way for …

What If I Die?

Oh no not another lockdown!  Covid 19 has affected businesses in many different ways.  Some firms have had a huge upturn in their business and others have seen theirs drop off a cliff.  We have all had to face different challenges with this pandemic.  The number of deaths from the Coronavirus is horrific. How has this affected what we do …

A Vendor’s Worst Nightmare

This is a cautionary tale to all vendors and this is a case that has actually happened. Just over a couple of years ago, we were approached by an accountant in the Leeds/Manchester area who ran a very successful practice.  He was growing it organically year on year and wanted to reach the magical milestone of a million pound turnover.  …

Offers received come in all sorts of shapes and sizes

At Draper Hinks we facilitate the buying and selling of accountancy practices.  We deal with accountants all over the country that want to sell accountancy fees and those that want to buy accountancy fees.  We work on deals of £1m and below.  We have been doing this since November 2004 and have a lot of experience in this field. Over …

How things have changed during lock down

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.  …

Offers come in many shapes and sizes

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 …

We are back in business

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, …