Potential Seller Newsletter September 2023

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.

Draper Hinks is very proud of its track record and reputation.  Please feel free to contact me anytime at n.draper@draperhinks.co.uk with any questions.

Why work with a broker to sell your fees?

How long have you been thinking about selling your fees?  Weeks, months or years?  Over  time you have built up really good relationships with your clients.  You care about them.  You have looked after them.  You have nurtured them.  Finding the right fit for your clients is so important.  You need the right buyer.  By using a broker you have a much greater chance of meeting a number of buyers.  You can interview each buyer for suitability before deciding which one would be the best fit for your staff and your clients.  It matters!

This is a case study from a practice we sold in 2022:-
Fees sold £226,000 Where Sussex
Qualified FCA Age 42
Time scale 4 months Type of Practice Sole Practitioner
Payment 3 tranches How paid 50%; 25%; 25%
Multiple 1.15 x fees When paid Completion; 12 months; 24 months
Offers 2 offers Office & staff Office closed, staff retained
Results Vendor wants to start another business unrelated to accountancy

 

 

Are you a seller in one of these areas? 

This is only a small sample of some of the 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
P5/W1/DHB/13 Bedfordshire Up to £650k
P5/W1/DHB/14 Buckinghamshire Up to £300k
P5/W1/DHB/15 Oxfordshire Up to £200k

 

 

Here are two testimonials from previous vendors:-
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
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       

 

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 0.90 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

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.