Draper Hinks Newsletter Issue 4 2020
|Hello, I’m Nicola Draper. I run Draper Hinks and this year will be our 20th Anniversary. We sell only accountancy fees and I am excited to announce that, since inception, we have completed over 310 deals.
We are very proud of our track record and our reputation. Please feel free to contact me anytime at firstname.lastname@example.org with any questions.
Nicola Draper founder Draper Hinks
|What we are looking for
It’s simple, we are looking for accountancy practices that want to sell fees.
Don’t make the mistake of selling your fees to the first person you talk to. We have heard of horror stories where ridiculously low multiples have been offered and accepted. Multiples as low as 0.1 x fees. You could say the buyer was “stealing” the clients for that price.
We have sold whole practices and we have sold tranches of fees. There are buyers out there looking to buy. We have many of them registered with us who are keen to talk to serious vendors.
Please contact Nicola at email@example.com or phone her on 01788 816440, to see how we may be able to help you.
Talk to Nicola Draper in confidence about selling your practice
During lock down have you considered selling your fees? Are you fed up with the red tape that only seems to be getting worse each year?
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 are 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 firstname.lastname@example.org or phone her on 01788 816440.
|Here are three case studies of practices we have sold within the last 12 months:-|
|Qualified||FCCA & FCA||Age||65 & 62|
|Time scale||6 months||Type of Practice||2 Partners|
|Payment||3 tranches||How paid||40%, 30%, 30%|
|Multiple||1.1 x fees||When paid||Comp, 12 & 24 months|
|Offers||4 offers||Office & staff||Office and staff retained|
|Results||Both partners retired, spending time with grandchildren and are much happier.|
|Time scale||9 months||Type of Practice||Sole Practitioner|
|Payment||Earn out||How paid||33% fees rec’d for 3 years|
|Multiple||1 x fees||When paid||Every quarter in arrears|
|Offers||2 offers||Office & staff||Office & some staff retained|
|Results||Vendor left after handover, now not doing any form of accountancy work.|
|Time scale||5 months||Type of Practice||Sole Practitioner|
|Payment||4 tranches||How paid||40%, 20%, 20%, 20%|
|Multiple||1 x fees||When paid||Comp, 6, 12 & 24 months|
|Offers||3 offers||Office & staff||Office shut, some staff kept|
|Results||Vendor doing more travelling, reading and generally enjoying life.|
|Hello, I’m Diane Crawley and I am the Office Manager for Draper Hinks. If you want to talk with Nicola about selling your practice, then please contact me so that I may arrange an appointment for you. You can call me on 01788 816440 or email me at email@example.com.
I also deal with all the buyers for Draper Hinks so if you are thinking of buying fees please get in touch.
Diane Crawley, Office Manager
|Here are three testimonials from vendors that were happy with the service offered by Draper Hinks in 2019:-|
I heard about Draper Hinks from some direct marketing. I chose to use them based on an initial conversation with Nicola Draper and a combination of low cost, ease of process and the support and advice provided by DH throughout. Working with them has been easy. Draper Hinks are the experts in the field and were both helpful and cost effective. I would advise anyone to use Draper Hinks as they are the specialists.
Vendor – Robert Glover FCCA Barnet
I heard about Draper Hinks from the internet. They seemed experienced at selling fees. They did everything they said they would do and their “handholding” was excellent. They knew what they were talking about. The process they follow works. I would happily recommend them.
Vendor – Brendan Sugden FCA Yorkshire
I heard about Draper Hinks from a mail shot. They were brilliant and very professional. My first impression was excellent. The process offered was ideal and expeditious. The two main things that were good about Draper Hinks was their speed and efficiency. Anyone thinking of selling should use Draper Hinks for peace of mind and for their personal approach.
Vendor – Ian Dobson QBE Yorkshire
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||1.2||1||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||1.00||1.20||1.00||1.20|
Fees Required by Buyers
We have many buyers registered with us that are keen to buy fees. Are you thinking of selling fees in any of the areas below? If so, please contact Nicola on firstname.lastname@example.org stating the reference.
|P4/W1/DHB/2||Stratford upon Avon||300k||P4/W1/DHB/8||Leicester||100k|
Lisa Shenton, Admin Assistant
We want to hear from you if you are seriously considering selling some accountancy fees. Contact Diane Crawley at email@example.com or call her on 01788 816440.