Draper Hinks was approached by a vendor in at the end of 2020 to sell his fees.   We sent out our normal mailer and had a number of replies from potential buyers.   The practice for sale was in Leicestershire and under £200,000. The vendor had Zoom calls with all five buyers.  Nicola Draper reviewed all the offers sent in by …

When we market a practice for a vendor, we send a mailer out to potential buyers.  In the mailer it states when the vendor will be available to meet the buyers.  These meetings are primarily done on Zoom rather than the usual face to face.  Once the meetings have been held and feedback has been gathered from all parties, it …

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 …

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 …

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 …

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.  …

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 …

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 …