 Nicola Draper founder Draper Hinks |
Draper Hinks prides itself for being one of the top brokers in the country for facilitating the buying and selling of accountancy practices.
Last month Nicola celebrated her 20th Anniversary of running Draper Hinks on her own. In that time, she has built up a fabulous reputation in the industry for giving good sound advice to both buyers and sellers. ICAEW have called on her services more than once to be a keynote speaker in their webinars. |
DOING A BESPOKE MAIL SHOT AS A BUYER
We are often asked by buyers why we do not have more practices for sale on our website. I make no apologies for saying that when we get a practice for sale we sell it. We only advertise those firms that want to sell the whole practice or even a tranche of fees. We have many more buyers than sellers, so we find that accountancy practices for sale are always in great demand. Please remember that we can and do offer to do bespoke mailings for buyers. These often result in a deal being done where both parties are happy. If you want to know more then, please email Diane Bester at d.bester@draperhinks.co.uk or Marie Large at m.large@draperhinks.co.uk.
Practices for Sale
| Reference | Area | Amount | Description |
| 649/240419 | Dorset | £886,956 | Vendor looking to retire. Total of top 20 clients’ fees £128,321. Buyer needs to be Chartered or Chartered Certified with experience of dealing with farming clients. |
| 656/240509 | Devon | £162,000 | Vendor looking to retire. Total of top 10 clients fees £40,762. Average fee £1,050. |
| 659/240517 | Cumbria | £165,000 | Vendor looking to part retire and work for buyer 3 days per week post sale. Completion before end July 2024. |
Buyer Looking to buy Franchise Fees in Your Area
We are working with a buyer that is the country’s leading advisor for franchisees, supporting over 2000 clients across over 100 franchisors. That is all that they do. They are looking to buy practices, blocks of fees, or take on any individuals that want to join their team with relevant experience. Location can be anywhere, and they are happy to look at any size of client base, it’s the specialism that’s important. Email me at n.draper@draperhinks.co.uk or phone me on 01788 816440 for more information.
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Details of a deal done in 2023:- |
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| Fees sold | £325,000 | Where | Staffordshire |
| Qualified | FCA | Age | 68 |
| Time scale | 5 months | Type of Practice | Sole Practitioner |
| Payment | Three Payments | How paid | 40% 30% & 30% |
| Multiple | 1 x fees | When paid | Comp, 12 mths and 24 mths |
| Offers | 2 offers | Office & staff | Buyer kept office and staff |
| Results | Vendor set up new company well away from the accountancy field. | ||
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Testimonial from a vendor whose practice we sold in 2023:- |
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| I was looking to retire and needed to sell my practice. I did not want to shut the door and ask my clients to find another accountant. I was attracted to Draper Hinks because of the very positive reviews on their website. I have found working with them to be very good, very helpful and very supportive.
The team at Draper Hinks were always ready to help when needed and provided a discreet and professional liaison with the buyer. I have already mentioned Draper Hinks to another practice. I cannot thank you enough for the invaluable help you have given me. Christine Badcock FMAAT (Permission given to print her name) |
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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 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 |
| 2024 | ||||||
| Quarter 1 | Jan – Mar | 1.05 | 1.00 | 1.20 | 0.85 | 1.20 |
*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.
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 selling, please contact Nicola Draper at n.draper@draperhinks.co.uk or call her on 01788 816440. You can also book a one-to-one appointment with Nicola through Calendly by clicking here https://calendly.com/draper-hinks/q_a. Everything discussed will be totally confidential.