July 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 365 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.




We have noticed an increase in the average multiple being offered by buyers.  This is not surprising bearing in mind that there are a lot more buyers on the market than sellers.  But there always are more buyers than sellers. So, as a buyer you have to differentiate yourself from other buyers and that does not always mean offering a higher multiple than anyone else.  Obviously it will not harm your chances if you are the highest bidder, but the vendor will still choose the buyer they believe to be the best “fit”.  Always consider what the vendor wants i.e. continuity of service, no increase in fees, taking on the staff etc.  Do that and you have a chance of buying.



Practices for Sale

Reference Area Amount Description
w/526/220623 Somerset £80,000 Vendor looking to retire. 2 staff, 1 qualified would like to stay on with buyer part-time. No premises so fees portable locally.
w/523/220608 Cumbria £41,000 Vendor looking to retire. Top 10 clients total £10,200. Not VAT registered. No staff or premises so fees portable locally.
w/522/220607 North Yorkshire £350,000 2 partner practice, 1 retiring. £350k is 50% of the practice. Some staff & subcontractors could move to buyer if required.


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

Fees sold £300,000 Where Essex
Qualified QBE Age 69
Time scale 12 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 60%, 20%, 20%
Multiple 1.2 x fees When paid Comp, 12 months, 24 months
Offers 3 offers Office & staff Office and staff retained
Results Vendor spent more time with children and grandchildren


Here are two testimonials from previous vendors:-

Testimonial 1

I heard about Draper Hinks from exchanges on Accountancy Web.  I chose them because of the personal touch they give to their service.  I could not have asked for more support or time from them.  Their process is excellent.  They understood the stresses and issues we faced and guided us through.  Trying to do this without Draper Hinks is unimaginable.  We have a campervan, a motorcycle and a taste for adventure and are now going to go “gallivanting”.

Vendor – Daniel Barr-Richardson FCA     East Sussex

Testimonial 2

I heard about Draper Hinks from one of their flyers.  They had a good website and were pleasant to talk to.  I would be happy to recommend them if the opportunity were to arise.  They were friendly and had straight answers to my questions.  It is a transaction you will do only once and part of the broker’s role is to mentor.  You need advice from the people who do the work every day.  I am looking forward to not having to work to deadlines anymore.

Vendor – Simon Brook   CA                           Monmouthshire



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 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
Quarter 2 Apr – Jun 1.02 0.73 (1 pmt) 1.15 0.6 (1 pmt) 1.25

*1.5 x fees was offered but rejected because the fit was not good between the buyer and the seller.

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 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