 Nicola Draper founder Draper Hinks |
Hello, I’m Nicola Draper. I run Draper Hinks and have done so since 2004. We sell only accountancy fees and I am excited to announce that, since inception, we have completed over 337 deals.
We are very proud of our track record and our reputation. Please feel free to contact me anytime at n.draper@draperhinks.co.uk with any questions. |
Which Solicitor should you use?
We are often asked by buyers and sellers if we know a solicitor that can help with the contract. It is the buyer that puts forward the contract, it is important that you get it right. Most accountants know one or perhaps several solicitors who do conveyancing, wills and probate. They may be very good at doing this work but when it comes to buying an accountancy practice you need to speak to a solicitor who has specialist knowledge in this field. Ask us about this and we can recommend someone that you can speak to free of charge, for an initial confidential chat.
Practices for Sale
| Reference | Area | Amount | Description |
| 441/210604 | East Sussex | £328,000 | 2 directors, 1 retiring 1 may stay on post sale. Top 20 clients’ fees £55,640. Buyer must have experience of dealing with clients in charity & performing arts sectors. |
| 445/210623 | Cornwall | £28,000 | Vendor looking to retire. Total of top 10 clients’ fees £22,476. Buyer must be Chartered or Chartered Certified. |
| 448/210706 | Cornwall | £56,000 | Vendors wants to focus on new business venture. Practice is not VAT registered. Buyer needs to be at least AAT qualified. Total of top 10 clients’ fees £19,535. |
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This is a case study from a practice we sold in 2020:- |
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| No. 1 | |||
| Fees sold | £218,000 | Where | Kent |
| Qualified | FCA | Age | 57 |
| Time scale | 8 months | Type of Practice | Sole Practitioner |
| Payment | 2 tranches | How paid | 50% & 50% |
| Multiple | 1.25 x fees | When paid | Comp & 12 months |
| Offers | 3 Offers | Office & staff | Office and staff retained |
| Results | Retired and spent more time with family especially grandchildren. | ||
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Here are two testimonials from previous vendors:- |
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| Testimonial 1
The sale of my accountancy practice through Draper Hinks was far easier than I had imagined. The process was very professional and Nicola’s personal approach to both me as a seller and to all the potential buyers made it all straightforward and a pleasure. I would whole-heartedly recommend Draper Hinks if you are looking to sell your practice. Vendor – Ben Fells ACA Hertfordshire |
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| Testimonial 2
Working with Draper Hinks has been wonderful. I had great support throughout the process, which was well thought out and professional. I was completely satisfied with the service I received. I would recommend Draper Hinks without a doubt. Vendor – Biddy Cranleigh-Swash Middlesex |
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Income Multiples Paid in the last 12 months
| 2020 | 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 | 0.9766 | 0.65 | 1.28 | 0.65 | 1.28 |
| Quarter 4 | Oct – Dec | 1.01 | 0.8 | 1.25 | 0.8 | 1.25 |
| 2021 | ||||||
| Quarter 1 | Jan – Mar | 0.7983 | 0.4 (*) | 1.1 | 0.15 (*) | 1.25 |
| Quarter 2 | Apr – Jun | 1.01 | 0.85 | 1.1 | 0.7 | 1.25 |
(*) Vendor died, fees transferred on an earn out. Work done, client paid, % of fee given to the widow.
Please check out our website www.draperhinks.com where you can:-
- Download our Guide to Selling and Buying Fees by registering for our eBook.
- View lots of video testimonials.
- Read our monthly Blogs that give regular market commentary.
Next step
If you want to buy some accountancy fees and have not already registered with us, please email Diane Crawley at d.crawley@draperhinks.co.uk.