 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 400 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. |
Secure your funding
Before you put in an offer to buy fees, please can you make sure that you have funding in place. What do I mean by this? Make sure that your financials are in order and the monies are immediately available. We recently had a scenario where a vendor met with three potential buyers, each stated they had funding in place. The vendor chose one offer based on both price and “fit”. Before the buyer started the due diligence, the vendor asked for proof of funding. The buyer had no money so was not able to provide this. The deal collapsed. The vendor was not happy stating what a waste of time and effort. Don’t let this happen to you.
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This is a case study from a practice we sold in 2022:- |
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| Fees sold | £226,000 | Where | Cambridgeshire | |||
| Qualified | FCA | Age | 64 | |||
| Time scale | 4 months | Type of Practice | Sole Practitioner | |||
| Payment | 3 tranches | How paid | 1/3rd; 1/3rd; 1/3rd | |||
| Multiple | 1.15 x fees | When paid | Completion; 12 months; 24 months | |||
| Offers | 2 offers | Office & staff | Sussex | |||
| Results | Vendor wants to start another business unrelated to accountancy | |||||
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Here are two testimonials from previous vendors:- |
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| Testimonial 1
We found out about Draper Hinks on Accounting Web mentioned in Any Answers. Working with the team has been great!! They are professional and friendly. The process offered was very good. Would happily recommend them. The Coaching Call, part of the pre-meeting preparation was VERY valuable. We also appreciated the support and encouragement from Nicola. We kept some clients and now have a much better work life balance that will actually include holidays! Vendor – Colin & Patricia Bristow Berkshire |
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| Testimonial 2
Had a mail shot and talked to Nicola. I liked the process and the fact that the buyer incurs the cost. They follow a clear process that has led to a successful outcome. First impression was positive. The process is simple and clear. Nicola was always available for advice. I sold to the people I liked and they made the best offer. I now look forward to being free of the pressures of running my own business. Vendor – Fred McBreen ACMA Hertfordshire |
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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 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 |
| 2023 | ||||||
| Quarter 1 | Jan – Mar | 1.16 | 0.9 | 1.48 | 0.75 | 1.48 |
| Quarter 2 | Apr – Jun | 0.98 | 0.90 | 1.05 | 0.80 | 1.40 |
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 at time to talk to Nicola on Calendly using this link:-
https://calendly.com/draper-hinks/q_a
- Read our monthly Blogs that give regular market commentary
- Check our latest Case Study https://draperhinks.com/case-study-september-2023/.
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.u