|
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. |
What do vendors want? We can help you get it.
We asked our vendors what they were most concerned about when selling their practice. By far, the biggest worry was to find a buyer that would look after the staff and then look after the clients. Price paid was the next on their list. Time taken to do the deal also came up as well as funding availability and experience of the buyer to do the work. Some buyers do not have experience of running a practice but feel they can and want to have a go. Would you want an inexperienced accountant running your practice? We would not advise it.
We appreciate that all these things matter and if you want to talk to us about your own situation, please email me on n.draper@draperhinks.co.uk or phone me on 01788 816440.
|
Details of a deal done in 2023 |
|||
|
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 shut office and kept staff |
|
Results |
Vendor set up new company well away from the accountancy field |
||
Buyer Looking to buy Franchise Fees in Your Area
Franchises are like running your own business but with a safety net of someone who has been there before, someone who has worked out the best way to do things, and the best procedures to adopt. Someone who has already made all the mistakes before so that you don’t have to.
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 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.
Contact n.draper@draperhinks if you want to speak to someone about this opportunity.
|
Testimonial from a vendor whose practice we sold in 2023:-
|
|
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. Initially I was extremely nervous but after speaking with Nicola, she soon put me at ease and explained the process in great detail.
The team at Draper Hinks were always ready to help when needed and provided a discreet and professional liaison with the buyer. I had a Coaching Call with Nicola and it was extremely helpful in understanding the sales process, the meeting preparations, what to expect and how to lead the first meetings with the buyers. I would consider the Coaching Call to be essential for anyone selling their practice. 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) |
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 Selling Fees eBook.
- Talk to Nicola on Calendly using this link:- https://calendly.com/draper-hinks/q_a
- Read our monthly Blogs that give regular market commentary.
- Read the vendor’s stories on the website.
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.