Draper Hinks Newsletter December 2018 Hello, I’m Nicola Draper. I run Draper Hinks and have done so since 2004. We deal only with the buying and selling of accountancy fees and since inception, we have completed 259 deals. We are very active in the market place. We like to get to know our vendors and purchasers. I deal with all …
A round up of the year – 2018
As most of our readers know, we only deal with accountants in practice. We are business brokers for accountants that want to sell fees and for accountants that want to buy fees. Most vendors want to sell their whole practice but we have had a number this year that want to sell only a tranche of fees. To date we …
A sad story about one of our vendors
We were contacted by a vendor three years ago to discuss the possibility of selling his practice with fees in the region of £160,000. Due to mitigating circumstances, we decided it was best to meet up face to face to discuss his particular situation, so a convenient time and place was agreed. I drove to the meeting and he drove …
Top tips from a vendor who sold his practice through Draper Hinks
Graham sold part of his practice through Draper Hinks several years ago. It did not go smoothly and he ended up having to sue the buyer. But that is another story. I recently met up with Graham to ask him for his top tips when selling a practice. Tip 1 Don’t expect it to go smoothly. Expect there to be …
How MTD has affected the market so far this year
We have had a number of vendors approach us this year not wanting to have to deal with MTD. Their sole purpose of selling was to avoid having to put things in place to deal with yet another system to be compliant in the ever changing world of accountancy. The first practice we marketed this year was for a lady, …
August 2018 Newsletter
Draper Hinks Newsletter August 2018 Hello, I’m Nicola Draper. I run Draper Hinks and have done so since 2004. We sell only accountancy fees and have completed over 240 deals. We are very active in the market place for buying and selling accountancy practices. I deal with all the sellers, so if you are looking to sell in …
Some of the uncommon pitfalls a buyer can encounter when buying fees
When a buyer buys accountancy fees they are looking to minimise their risk but at the same time maximise their return. I have yet to find a buyer that pays out a significant amount of money without wanting a good return on the investment. We have come across a few pitfalls that buyers find when they buy fees. In our …
Some of the more common pitfalls a buyer can encounter when buying accountancy fees
Anyone making an investment of any kind wants to have a return. Buyers of accountancy practices are no different. There are several common things a buyer needs to take into account when looking to buy accountancy fees. If a vendor has staff that have been in the practice for a long time ie 25 – 30 years, under TUPE regulations, …
How summer holidays affect the process of buying and selling accountancy practices
I often get asked if there is a good time or a bad time for selling accountancy fees. The obvious answer is not to try to sell your accountancy practice in December or January. I am now going to contradict myself by saying you can actually sell fees any time in the year, if you have to. We have had …
We recently sold an accountancy practice in two days from start to finish
On a Wednesday afternoon in March, we had a call from a concerned relative. His brother had just died. His brother was an accountant and had clients that needed looking after. His sister-in-law, was who was now a widow, did not want to have to deal with the clients of the practice on top of her own personal grief. As …
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