Why a Meeting Day is important.

What happens at a Meeting Day. At Draper Hinks when we are asked to sell an accountancy practice for a vendor we find out from them where we should be looking for a suitable buyer. This would normally involve some kind of geographical search around their existing office/s. Once we have identified the area we contact suitable purchasers to find …

Want to generate more fees? Time to get more strategic with your marketing!

Vicky Boulton runs her own marketing consultancy and has been invited by Nicola Draper to write a blog for the website. Vicky has done work for Draper Hinks and has helped to bring in a substantial amount of new business. She has submitted the following contribution:- If you want to sell your accountancy practice within the next 2- 3 years, …

Reasons why vendors want to sell their accountancy practice

Nicola Draper of Draper Hinks has sold well over 130 accountancy practices, so has come across some interesting reasons why a vendor wants to sell their accountancy practice.  These reasons are not listed in any specific order. Reason No 1 – Retirement The most common reason given for selling an accountancy practice is where the vendor wants to retire.  They …

What makes Draper Hinks different from other accountancy brokers?

We have three USP’s that we are proud of and feel this makes us better than other Accountancy Brokers. First – We hold meeting days for our vendors. When a vendor approaches Draper Hinks and lets us know that they want to sell their accountancy practice or a tranche of their accountancy fees, there is a process that we undertake …

Selling a business has many financial implications

THIS IS THE FIRST INVITED CONTRIBUTOR TO OUR BLOG Nicola Draper has invited a number of people to contribute to the Blog on the Draper Hinks website. Marc Ovits is a financial adviser with several advanced qualifications and many years experience in the industry. He has submitted the following:- Selling a business has many financial implications Selling your business may …

Don’t Leave it to the last minute to sell your Practice

I was recently contacted by a vendor who wanted to sell his practice. He had fees in the region of £150,000. He was a sole practitioner and had two full time members of staff. He said he had already met two buyers and had two offers on the table and did not know what to do. I discussed the two …

Selling fees up to £60,000 – a misconception

I recently had a phone call from an accountant who wanted to sell his fees. He was in his mid sixties and thought it was about time he did something about it. He had been to a seminar, run by his institute, who told him that there was not a ready market for fees of £60,000 or below. He started …