How long does it take to sell a practice?

Question: How long do you think it should take to sell a practice:- • Two years? • One year? • 9 months? • 6 months? The answer – like so many – is it depends. Question: What does it depend on? Answer: Many things but mainly on the size of the practice. If you have a practice with an office, …

I did my first public speaking event in front of a group of accountants

I have just done my first public speaking event in Leicester, in front of a group of accountants from a national network. I was invited to talk about “What does a buyer look at when considering buying fees”. I covered:- • How much of the practice is being sold. • Time frame from start to finish. • What happens if …

What our terms and conditions say and why we do more

As a business broker we work with both the buyer and the seller. We are not an agent who works for only one side. Our aim is to help the vendor get more than one offer so that they can have a choice. We also aim to help all buyers put their best offer forward. If a buyer has not …

Confidence is important when selling accountancy fees

Confidence has a great impact when selling or buying an accountancy practice. The vendor has to be confident that the buyer can look after the practice post sale or no deal with ensue. We once had a buyer with a turnover of £10k looking to buy a practice with £300k. The vendor was not confident the buyer would cope with …

Now that Making Tax Digital has been delayed

We all know that Making Tax Digital has been delayed because of the general election for at least a year. Many accountants would say that it would be good if it could be scrapped completely but that is unlikely to happen. MTD has had a significant impact on the market place and as a broker I have noticed that we …

How offers can differ

It never fails to surprise me how many different ways there are to put in an offer. Why is it that accountants enjoy being so creative with numbers and can come up with a myriad of ways in which to offer for an accountancy practice? We organise meeting days for our vendors. Our aim is for the seller to have …

How Making Tax Digital is affecting the market place

We have had a significant increase in the number of enquiries from accountants looking to sell their accountancy practices before the start of making tax digital in 2018. February is a busy time of year for us because vendors do not want to have to do another January. This leads to a spate of enquiries and us marketing many practices …

A round up of the year – 2016

This has been a strange year for the buying and selling of accountancy practices. At the beginning of the year we had a number of vendors looking to sell their accountancy practices but, for the first time ever, we were unable to find any buyers. In the 12 years I have been selling accountancy fees I have never know the …