|Nicola Draper founder Draper Hinks||
|Do you fit this profile?
Ø You are stressed from the extra work generated by Covid 19.
Ø You want to relieve the pressure at work.
Ø You do not want to work to deadlines any more.
Ø You have other things that you would like to do outside of work but don’t have the time.
Ø You want to pass your clients on to someone else who will look after them for you.
Ø You have thought about this for a while but not yet done anything about it.
Ø You would like to have a better work life balance.
Ø You have fallen out of love with your work.
Ø You are getting ill from having to work longer hours without any extra benefits.
Ø You want to free up your time because you have other business interests.
If any of these resonate with you then the answer is straight forward. Sell some, or all, of your fees.
Let’s have a chat about how we can help. Email me at email@example.com or phone me on 01788 816440. More than happy to discuss your own situation, in confidence of course.
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 firstname.lastname@example.org 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