If selling your fees, why you should use Draper Hinks

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 have finally moved into our new office

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 …

Looking to buy fees in the summer holidays?

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 …

Draper Hinks will be moving office soon

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 …

More and more buyers are registering with us to buy fees

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 …

Why your practice is like an apple pie

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 …

Don’t leave it too late to sell your practice

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 …

What is a “Prep” call and why it is important

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 …

Please don’t do this when you are selling your accountancy practice

Last year we were contacted by a vendor looking to retire and sell his accountancy practice.  He was aged 72 and had been working with his clients for longer than he cared to remember.  Some of his clients had been with him for over 35 years and in some instances, their business had been passed down the generations.  It was …

Some top tips from a vendor to other vendors

In 2018 we sold a practice in the North West and the vendor was asked what tips he would give to another vendor in the same situation. These are the tips he came up with:- 1 Make sure that there is sufficient resource in place to handle the extra work involved. a. Storage space b. Staff capacity c. Equipment , …