August Newsletter 2020

Hello, I’m Nicola Draper.  I run Draper Hinks and have done so since 2004.  We sell only accountancy fees and have completed over 310 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 the near future, please email me at

Nicola Draper founder Draper Hinks



Did you know that the lock down and Covid 19 has had no effect on income multiples in the market place? 

When Draper Hinks shut the office at the end of March 2020 it was expected that post lockdown buyers would be offering both lower income multiples and extended payment terms.  The assumption was that there would be a lot of practices haemorrhaging clients and there would be no certainty as to what vendors would actually be selling.

However, since opening the office on the 15th June, not one of the practices we were in the process of selling have had their multiple negotiated down.  Deals have been completed through the lock down period and the multiples stayed at market rate.  Practices new to the market since the middle of June are attracting multiples commensurate with pre-lockdown rates.

This means that the market place has not been affected.  Sellers that wanted to sell at the beginning of the year have had to wait and are now coming forward looking to sell quickly to make up for lost time.   There are deals out there to be done.

Here are three case studies of practices we have sold within the last 12 months:-

No. 1  
Fees sold £500,000 Where Surrey
Qualified FCA Age 64
Time scale 10 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 33.3%, 33.3%, 33.3%
Multiple 0.9 x fees When paid Comp, 12 & 24 months
Offers 2 offers Office & staff Office closed and staff transferred
Results Vendor worked hand over, now living abroad.
No. 2  
Fees sold £250,000 Where Hertfordshire
Qualified FMAAT Age 64
Time scale 9 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 40%, 30%, 30%
Multiple 0.85 x fees When paid Comp, 12 & 24 months
Offers 5 offers Office & staff Office closed some staff retained
Results Vendor helped with handover then moved to the West Country.
No. 3  
Fees sold £200,000 Where Yorkshire
Qualified FCA Age 63
Time scale 7 months Type of Practice Sole Practitioner
Payment 4 tranches How paid 25%, 25%, 25%, 25%
Multiple 0.8 x fees When paid Comp, 12 & 24 & 36 months
Offers 2 offers Office & staff Office closed some staff kept
Results Vendor now happily playing a lot more golf.

Hello, I’m Diane Crawley and I am the Office Manager for Draper Hinks.

I work primarily with all buyers.  We have various schemes we can offer to our buyers so if we can help you to grow your business please call me on 01788 816440 or email me at and I will be happy to discuss it further.

Diane Crawley, Office Manager



Here are three testimonials from vendors that were happy with the service offered by Draper Hinks in 2019:-
Testimonial 1

I heard about Draper Hinks from a marketing email and a Linked In contact.  I like methodical systems and there is certainly one in place here – very efficient and very clear.  My first impressions were that they were professional and friendly.  There was good communication at all times.  You should use Draper Hinks because they were discreet and targeted appropriately.  The most difficult part of selling my practice was deciding to do it. 

Vendor – Adrian Lawrence FAIA                           Yorkshire

Testimonial 2

I heard about Draper Hinks from a flyer in the post.  The initial contact was positive.  They were approachable and seemed to be talking sense.  Nicola was practical and communication was good. 

Vendor – Mitchell Langhelt  FCA                            Dorset

Testimonial 3

I heard about Draper Hinks through accountancy colleagues and journals.  Nicola was most helpful and made it all seem easy and straight forward.  She provided a lot of information.  It was a real pleasure to work with Nicola and her staff.  It is a very professional and friendly company to work with.  You need someone professional and experienced to turn to.  The process they follow is excellent and the service was second to none, nothing was too much trouble.  Don’t even think about doing it on your own.  It is too complex and you need a professional to guide you through the process and get the best price. 

Vendor – Linda Cotterill FCA                                      Worcestershire



Practices for Sale


The practices that we had advertised prior to lockdown are still postponed due to the current situation.  We will update our website as soon as the vendors advise that they are ready to proceed.  However, the practice below is new to the market and available in Tyne & Wear.  If you would like more information about this opportunity please contact Diane on


Reference Area Amount Description
384/200709 Tyne & Wear £95,000 Vendor retiring.  2 Full time staff.  Premises available to buyer for purchase if required.  Fees are portable locally.  Buyer must be Chartered or Chartered Certified.  Virtual meetings with vendor by arrangement.

Income Multiples Paid in the last 12 months

2019 Quarter Average income multiple paid Lowest income multiple paid Highest income multiple paid Lowest income multiple offered Highest income multiple offered
Quarter 3 Jul – Sep 1.1 1.0 1.2 1.0 1.25
Quarter 4 Oct – Dec 0.9125 0.7 1.1 0.65 1.2
Quarter 1 Jan – Mar 1.075 0.9 1.25 0.9 1.25
Quarter 2 Apr – Jun 1.13 1.0 1.2 1.0 1.20



Hello, I’m Lisa Shenton and I am an Admin Assistant at Draper Hinks.  I am the person that normally sends out these Newsletters but at the moment I am furloughed and not in the office but my emails will be monitored while I am away.

I am normally the person to notify if you wish to continue to receive these newsletters or if you wish to stop receiving them.   You can still email me at stating you want to be removed from our database.  If on the other hand you would like to continue receiving them please can we have both your email and your consent to use it to send the newsletters to you electronically.



Lisa Shenton, Admin Assistant



Next step

Contact us if you want to discuss how we can help you buy fees.  Please get in touch with Diane Crawley at or call her on 01788 816440.