April Newsletter 2022

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 350 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.


No 1  –  WIP  Some buyers do not recognise WIP at all, which is not fair on the vendor. As a buyer you need to know how you will deal with WIP post sale.

No 2  –  Fees paid by Standing Order  We have had deals fall through because of this.  Where in the annual accounting cycle is each client in relation to fees paid?  A vendor wants to be properly compensated but a buyer does not want to buy fees where all the clients have paid in advance and the buyer is then not compensated for works done immediately post sale.


Practices for Sale

Reference Area Amount Description
w/500/220310 Yorkshire £700,000 Vendor retiring. Top 20 clients total £112,050.  Leasehold office with spare space. Work being turned away, significant potential to grow. Ideally vendor wants a share sale.
w/489/220201 Northumberland £890,000 2 Partners looking to retire, 1 would stay on part time if required. Top 20 clients’ fees £195,629. Buyer needs experience in agricultural sector, must be Chartered or Chartered Certified & Audit registered.

This is a case study from a practice we sold in 2021:-

Fees sold £200,000 Where Cambridgeshire
Qualified QBE Age 64
Time scale 5 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 50%, 25%, 25%
Multiple 1.1 x fees When paid Comp, 12 months, 24 months
Offers 3 offers Office & staff Office and staff retained
Results Vendor bought run down 8 bed house to modernise and live in.


Here are two testimonials from previous vendors:-

Testimonial 1

I chose to deal with Draper Hinks because I found them more approachable than other agents I have dealt with in the past.  From the beginning they were very helpful and took me through the process step by step.  I would be happy to recommend Draper Hinks to anyone thinking of selling. I am looking forward to having less to worry about and being able to do as I choose.

Vendor – Richard Aldridge   FCA                West Midlands

Testimonial 2

I heard about Draper Hinks from an email sent to me with their Newsletter.  I have always found them to be courteous, efficient and prompt.  My first impression was that they were friendly and professional.  Their process is straight forward and user-friendly.  The benefit of working with Draper Hinks is that they are responsive and effective in progressing matters.  I am now looking forward to having time to pursue my hobbies and interests.

Vendor – John Turner   FCA                         Berkshire            



Income Multiples Paid in the last 12 months

2021 Quarter Average income multiple paid Lowest income multiple paid Highest income multiple paid Lowest income multiple offered Highest income multiple offered
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
Quarter 1 Jan – Mar 0.76 0.6 1.0 0.5 (1 pmt) *1.50

NB None of the above figures are to be reproduced in any way without express permission from Nicola Draper.  * 1.50 x fees was offered but rejected because the fit was not good between buyer and seller.



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 looking to purchase and would like further information on how we may be able to help you, please email us on info@draperhinks.co.uk