 Nicola Draper founder Draper Hinks |
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Ready to sell? We can find you a buyer.
Here are three top tips from a vendor who sold their practice in 2021:-
- Prepare a structured first meeting with all potential buyers.
- Negotiate a price that suits you not the buyer.
- Find a good solicitor early on in the process.
We can help you with all of this as well.
| This is a case study from a practice we sold in 2021:- | |||
| Fees sold | £329,420 | Where | Yorkshire |
| Qualified | FCA | Age | 62 |
| Time scale | 7 months | Type of Practice | Sole Practitioner |
| Payment | 3 tranches | How paid | 40%, 30%, 30% |
| Multiple | 1.1 x fees | When paid | Comp, 12 months, 24 months |
| Offers | 2 offers | Office & staff | Staff kept, office closed |
| Results | Vendor worked handover then started new business | ||
Are you a seller in one of these areas?
This is a small sample of buyers registered with us, we have many more that are keen to buy. These buyers have specifically asked us to find a seller for them in your area and are keen to proceed. If you are interested in finding out more, then please contact me, Nicola Draper, at n.draper@draperhinks.co.uk quoting the reference.
| Ref | Where | Amount |
| P1/W1/DHB/1 | Bedfordshire | up to £650K |
| P1/W1/DHB/2 | Leicestershire | up to £400k |
| P1/W1/DHB/3 | Oxfordshire | up to £200k |
| Here are two testimonials from vendors that successfully sold in 2021:- |
| Testimonial 1
Working with Draper Hinks has been excellent. They are very experienced and efficient. Their advice was very useful and the process was totally confidential. I was worried about the suitability of the candidates but found a buyer that was the right fit. I am now looking forward to not having the pressure of professional life. Vendor – A C Drennan FCA Derbyshire |
| Testimonial 2
I found out about Draper Hinks through the chats on Accountancy Web which were all very complimentary. They have been amazing and have provided a lot of invaluable advice based on a wealth of experience with selling fees. The whole process was handled professionally. I would be more than happy to recommend using Draper Hinks, they have a great network of potential buyers at their fingertips. I am now going to take time out with my family and l am looking forward to not juggling so many plates. Vendor – A Lloyd ACA Berkshire |
Income Multiples Paid in the last 12 months
| 2021 | Quarter | Average multiple paid | Lowest multiple paid | Highest multiple paid | Lowest multiple offered | Highest multiple offered |
| 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 |
| Quarter 4 | Oct – Dec | 0.9475 | 0.8 | 1.25 | 0.8 | 1.25 |
(*) Vendor died, fees transferred on an earn out. Work done for client and % of fee paid to the widow.
NB None of the above figures are to be reproduced in any way without express permission from Nicola Draper.
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 are thinking about selling, then contact Nicola Draper at n.draper@draperhinks.co.uk or call her on 01788 816440. Everything discussed will be totally confidential.