Nicola DraperFounder Draper Hinks Season’s Greetings. I’m Nicola Draper, I run Draper Hinks, a business brokerage facilitating the buying and selling of accountancy practices. We have completed over 448 deals to date and look forward to doing many more. I was asked by the ICAEW to be a keynote speaker again, on a webinar discussing selling your accountancy practice. If you …
Potential Seller Newsletter December 2024
Nicola DraperFounder Draper Hinks Season’s Greetings. I’m Nicola Draper, I run Draper Hinks, a business brokerage facilitating the buying and selling of accountancy practices. We have completed over 448 deals to date. I was asked by the ICAEW to be a keynote speaker again, on a webinar discussing selling your accountancy practice. If you have a question about what to do …
Round up of 2024
Draper Hinks has had a good year. We can finally say we have bounced back from the effects of Covid where we lost over 85% of our business overnight. Things are looking much brighter. My main observations as to what trends are becoming more prominent are several. We are still working with vendors that have paper-based practices. This is something …
What a typical offer looks like vs what a complicated offer looks like
When putting in an offer there are rules of thumb. Nothing is set in stone but having worked in this field for over 20 years, I have some experience of what is to be expected. If the vendor is selling fees of under £100,000 then I would expect the buyer to put in an offer where there are two payments. …
Vendor Story Q3
This is a case study from a practice we sold in 2023 Fees sold £ 64,700 Where Gloucestershire Qualified QBE Age 59 Time scale 4 months Type of Practice Sole Practitioner Payment Two tranches How paid 50% & 50% Multiple 0.95x fees When paid Comp and 12 months Offers 3 offers Office & staff No office and no staff Results …
Potential Seller Newsletter September 2024
Nicola Draper founder Draper Hinks At Draper Hinks we have a team of people dedicated to doing a really good job for our clients. We are a transactional business. When we get a practice for sale we sell it. That is why you do not see long lists of firms for sale on our website, we have sold them! We …
September Newsletter 2024
Nicola Draper founder Draper Hinks At Draper Hinks we only deal with accountants in practice and have sold many hundreds of practices. We still come across scenarios that we have not seen before because we find that accountants can be very creative when it comes to numbers and how to structure a deal. We have been known to advise …
Vendor Story £111,360 Tamworth
Details of a deal done in 2023 Fees sold £111,360 Where Tamworth Qualified FMAAT Age 72 Time scale 3 months Type of Practice Sole Practitioner Payment 2 tranches How paid 50% & 50% Multiple 1 x fees When paid Completion and 12 months Offers 4 offers Office & staff No office and one subcontractor Results Vendor decided to do some …
Why you should be VAT Registered
Are you VAT registered? Are you close to the threshold? What should you do? The VAT threshold for 2024 is £90,000 (up from £85,000). The government announced this increase in the Spring Budget, with the new threshold coming in from 1 April 2024. The VAT registration threshold is set by HMRC every year – but it had remained unchanged since 2017-18 until increasing …
The right frame of mind for selling your practice
It is important that when you are thinking about selling your practice, you are as ready as you can be. That means collecting as much information as there is out there to get a good idea as to what the process is and what can be done to maximise the sale price for what you are selling. However, that is …