November Newsletter 2021

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 have completed over 345 deals.

We are very proud of our track record and our reputation.  Please feel free to contact me anytime at with any questions.




Things a vendor does not want to hear.

Ø We have funding in place  –  To find that the buyer has not got the funding and has not even applied for the funding.

Ø We can do audit  –  To find that the buyer cannot do audit but is considering employing someone who can do audit but they have not yet started the process of hiring this new member of staff.

Ø We have spare capacity in the office to take in your staff  –  To find out that a new extension to the buyer’s premises has just been started and will not be finished until after the completion date.

Ø We would like to buy your practice  –  To find that the buyer is not an accountant but has lots of money in the bank and is backed by investors who are also not accountants.

Ø We have bought before  –  To find out that buyer was gifted clients by a local accountant who had to retire suddenly through ill health.

Yes, these are all actual scenarios that we have come across.  If you are looking to buy, then make sure you have everything in place before you put in an offer.  Don’t tell the vendor something that is not true.  You will lose both credibility and the opportunity to buy the fees.

To discuss buying fees then contact me, Nicola Draper, at



Round up of 2021 and Market Commentary

Many sellers have had to work a year longer than anticipated.  Some had planned their retirement to start in 2020.  By working this unwanted extra year it has caused many vendors to suffer from significant stress which has morphed into different forms of health issues.  We have been getting calls from vendors saying they were having to sell because of ill health or following advice from their doctor.

Multiples have not been affected, despite the upsurge in sellers coming to market at the beginning of 2021.   Where there are many accountants in the same area looking to buy the multiple may go up, but often not by a huge amount.  More buyers means more offers, not necessarily higher multiples.

In June I was asked to be a keynote speaker on an ICAEW webinar about selling an accountancy practice.  This was well-attended and I got a lot of positive feedback from the presentation.  Happy to do more webinars, if there is anyone interested in asking me….

If you want to sell your fees then please contact me, Nicola Draper, at or you can phone me on 01788 816440.  We would like to wish you every success for 2022 and say thank you for your support in 2021.



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 4 Oct – Dec 1.01 0.8 1.25 0.8 1.25
Quarter 1 Jan – Mar 0.7983 0.4 (*) 1.1 0.15 (*) 1.25
Quarter 2 Apr – Jun 1.1 0.85 1.1 0.7 1.25
Quarter 3 Jul – Sep 0.995 0.6 (1 pmt) 1.25 0.5 (1 pmt) 1.25

(*) Vendor died, fees transferred on an earn out.  Work done for client and % of fee paid to the widow.

We would like to welcome Marie Large to our team

Season’s Greetings from us all