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Nicola Draper founder Draper Hinks
| Why you should sell your fees through Draper Hinks |
| * We are good at what we do.
* We have a national reputation for getting results. * We arrange for you to meet with a number of buyers. * We coach you on how to run the meetings, so you are in charge throughout the process. * We follow up the meetings, giving feedback to both parties. * We advise on what is a good multiple for your practice. * We give options on how you can get paid to maximise return. * We review all offers making sure they are market rate. * We oversee the process through to completion. |
Talk to Nicola Draper about selling your practice
During lock down have you considered selling your fees? Have you had enough and want to do something that does not involve accountancy or looking after clients and their needs?
Would you like to talk to someone with over 15 years of experience in dealing with these matters? Nicola Draper would be happy to talk to you, in confidence, about your own situation and what options are available to you. There may be things you have not considered that she can make you aware of.
Nicola will also run through the process of selling your fees and how to maximise your return while your staff and clients and looked after by the buyer.
If you would like to arrange a video call or a phone appointment to discuss your situation then please contact Diane Crawley, office manager, at d.crawley@draperhinks.co.uk or phone her on 01788 816440.
| 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. | ||
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No. 2 |
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| 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. | ||
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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
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| 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
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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 – Sept | 1.1 | 0.6 | 1.4 | 0.6 | 1.4 |
| Quarter 4 | Oct – Dec | 0.9125 | 0.7 | 1.1 | 0.65 | 1.2 |
| 2020 | ||||||
| Quarter 1 | Jan – Mar | 1.075 | 0.9 | 1.25 | 0.9 | 1.25 |
| Quarter 2 | Apr – Jun | 1.13 | 1.00 | 1.2 | 1.00 | 1.20 |
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Lisa Shenton, Admin Assistant
Next step
Contact us if you want to discuss selling any fees. Please get in touch with Diane Crawley at d.crawley@draperhinks.co.uk or call her on 01788 816440.