Potential Seller Newsletter April 2023

Nicola Draper founder Draper Hinks



Selling your practice is not always an easy decision to make.  When is the right time?  We like to think we have all the time in the world to plan our lives but that is not always the case.

What if you are diagnosed with a serious illness and need to sell urgently?  What if someone in the practice dies?  These are real scenarios we are currently dealing with.  Speak to a broker that cares.  Email Nicola to have a chat at n.draper@draperhinks.co.uk.

Always talk to us first if you want to sell

If you are approached directly by a local accountant who wants to buy your fees, that shows you have something of value.  Most local accountants do not know the market rates for practices.  A vendor in March was told it was a buyer’s market and the going rate was 0.5 x fees.  This is not correct.  This is why you need to speak to us first!  Call us on 01788 816440.

Details of a deal done in 2022:-
Fees sold £300,000 Where Tyne & Wear
Qualified QBE Age 66
Time scale 6 months Type of Practice Sole Practitioner
Payment Lump Sum & Monthly Payments How paid Paid over 3 years
Multiple 0.9 x fees When paid Completion & 36 monthly payments, no clawback
Offers 2 offers Office & staff Office and staff kept
Results Vendor helped with handover then left to travel



Two more happy vendors whose practices we sold in 2022
Testimonial 1

I was recommended to use Draper Hinks by other accountants.  The team at Draper Hinks understood my position and were very knowledgeable.  The reassurance they provided throughout the process was great.  Do not contemplate selling on your own, use a broker that has the experience to guide you from start to finish.  The Coaching Call was the most important part of the process, it prepared me for my meetings with buyers and gave the me the confidence I needed.

Vendor –        Helen Vining   FCA                          Warwickshire           

Testimonial 2

I heard about Draper Hinks from their helpful newsletters.  I would give Nicola 10 out of 10, she was excellent to work with.  I was going to give notice to my clients but after talking to Nicola she found a buyer for me and I sold them.  I think the DH process is superb.  Don’t underestimate how emotional the selling process can be.  The Coaching Call gave me structure and kept the conversations with buyers relevant and concise.   I am now off to build myself a house!

Vendor –         Deepak Wadhwani   ACA       Bristol     


Income Multiples Paid in the last 12 months

2022 Quarter Average income multiple paid Lowest income multiple paid Highest income multiple paid Lowest income multiple offered Highest income multiple offered
Quarter 1 Jan – Mar 0.76 0.6 1.0 0.5 (1pmt) *1.50
Quarter 2 Apr – Jun 1.02 0.73 (1pmt) 1.15 0.6 (1pmt) 1.25
Quarter 3 Jul – Sep 1.05 1.0 1.2 0.8 1.2
Quarter 4 Oct – Dec 0.91 0.5 1.0 0.5 1.0

*1.5 x fees was offered but rejected because the “fit” was not good between buyer and 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 Draper Hinks Selling Fees Ebook.
  • Book a time to talk to Nicola on Calendly using this link:-


Next step

If you are thinking about selling, then contact Nicola Draper at n.draper@draperhinks.co.uk, call her on 01788 816440 or book a time to talk using https://calendly.com/draper-hinks/q_a.