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 …

I am so excited to announce that Draper Hinks will soon be moving office. I have been looking for a suitable office to buy for the last two and a half years. The estate agent said that he had not had the type of property required by me for over three and a half years.  Even the local MP told …

We are always looking for sellers who want to sell all or part of their accountancy practice.  Unlike accountants we do not get repeat business.  When a practice is sold it is sold. We cannot upsell or cross sell, so we are always on the look-out for the next vendor.  We comb the country to find sellers who have come …

I would like you to think of your accountancy practice as an apple pie.  When it comes to selling your accountancy practice, you could sell all of it, half of it or just a small slice of it.  Not all vendors want to sell the whole of their practice, some like to downsize and ease their way into retirement.  Others …

We sold a practice this year and it completed on the 3rd of April 2019.  The vendor died on the 12th April 2019.  The vendor’s wife worked in the practice and went to stay with her sister for a week because she was in shock. The one member of staff was on holiday and was not informed of the death …

One of our USP’s at Draper Hinks is that we talk to vendors before they meet with a potential buyer via a “prep” call.  Most vendors have not sold before.  A very few have sold a practice in the past, got bored, started again, built up another practice and then sold for the second time.  Other vendors may have sold …