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How was your January? Busy as ever?
Have you decided to grow your practice and buy some fees? Now is a good time to make sure you have registered with us for the start of 2024. We have brokered well over 400 deals so know a little about the process and can give you advice where requested. We are excited to announce that Nicola’s 20th Anniversary for running Draper Hinks single handedly is on the 15th April 2024. Her partner, Chris Hinks, retired 20 years ago on that day. Nicola Draper, Founder at Draper Hinks |
Buying a practice?
It is a seller’s market. We have many more buyers than sellers. This is very different from most markets. You can be keen to buy but be very frustrated at the lack of supply of practices for sale. But if you are not registered with a broker then you will never know when an opportunity may present itself. You have to be patient. Having plenty of money in the bank does not mean you will be successful. Let us know where you are looking, what size practice you want to buy and when you want to buy it. Contact Diane Bester at d.bester@draperhinks.co.uk or Marie Large at m.large@draperhinks.co.uk or phone us on 01788 816440.
A Vendor’s Story
Click on the link below to read why our vendor was selling and what happened.
Practices for Sale
| Reference | Area | Amount | Description |
| 624/231115 | Dorset | £327,000 | 2 partners, looking to retire. Top 20 clients’ fees £101,800. 4 staff. 2 audits. Buyer needs to be Chartered or Chartered Certified. |
| 613/231011 | Merseyside | £100,000 | Vendor looking to retire. Total of top 10 clients’ fees £46,546. No staff. Significant potential due to location. Premises available to lease. Buyer needs to be qualified. |
| 611/231009 | South Yorkshire | £50,000 | Vendor wants to sell and spend more time with family. 1f/t, 1 p/t staff + consultant 1-2 days pw. Rented premises available if reqd. Buyer needs to be qualified. |
Income Multiples Paid in the last 12 months
| 2023 | 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 | 1.16 | 0.90 | 1.48 | 0.75 | 1.48 |
| Quarter 2 | Apr – Jun | 0.98 | 0.90 | 1.05 | 0.80 | 1.40 |
| Quarter 3 | Jul – Sept | 1.107 | 1.00 | 1.30 | 1.00 | 1.30 |
| Quarter 4 | Oct – Dec | 0.918 | 0.35* | 1.10 | 0.35 | 1.10 |
*This deal completed in less than two weeks due to the terminal illness of the vendor.
NB None of the above figures are to be reproduced in any way without express permission from Nicola Draper.
Your Guide to Buying
We have been helping accountants sell and buy practices for more than 20 years, and during that time we’ve learnt so much. We have collated all of our knowledge and experience into our new eBook, which is the ultimate guide to buying accountancy fees. You can download your copy from our website for free.
Hear from one of our vendors
I needed to sell my practice in order to retire. I had received a previous mail shot from Draper Hinks so got in touch with them. Working with Nicola and the team was both straightforward and enjoyable. My first impression was very positive and everything went smoothly because Nicola obviously knew what she was doing.
It was important to me to find someone who I thought the clients would be happy to stay with. I chose the buyer I sold to because I thought they would be the best fit with clients. I think you need to be fully invested in the concept of selling, commit enough time and energy to make it work and believe in your own judgement when called on to make a decision.
I would be happy to recommend Draper Hinks to anyone thinking of selling their practice.
Andrew Baxter FCA Sold his practice in 2023 (Permission given to print his name)
We regularly post on LinkedIn so if you have not already connected with us please visit our page or email Marie Large on m.large@draperhinks.co.uk.
Please check out our website www.draperhinks.com where you can:-
- Download our Draper Hinks Buying Fees eBook.
- Read our monthly Blogs giving regular market commentary.
- Read our Vendor’s stories about their experiences of selling their practices.
Next step
If you are thinking about buying, then email Diane Bester at d.bester@draperhinks.co.uk or Marie Large at m.large@draperhinks.co.uk. Alternatively call us anytime on 01788 816440.