 Nicola Draper founder Draper Hinks |
Looking to grow your accountancy practice? You have two options, either grow organically or buy some fees. Buying accountancy fees can entail buying a whole practice or buying a tranche of fees. We understand that buying fees can be the quickest way to build your practice but there are stages involved. If you have significant growth plans it is important that you understand what it entails. Talk to us on 01788 816440 if you need help or guidance. |
Webinar speaker
I have just been invited by the ICAEW to be a keynote speaker for a Webinar in September 2024, covering Exit Routes from Practice. This will be the third time I will have covered this topic for them. I have also been invited to be a speaker later in the year, on more webinars with two more organizations. I give current market data, impartial guidance and expert advice on how to sell an accountancy practice, what to take into account and how the process works. I give real life examples If you want to buy a practice or a tranche of fees, 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 |
| 665/240614 | South Yorkshire | £203,00 | Vendor looking to sell practice. Total of Top 10 clients’ fees £52,117. Buyer needs to be qualified. |
| 662/240708 | North Yorkshire | £188,696 | 2 vendors both retiring. Top 10 clients’ fees £36,209. 1 f/t, 2 p/t staff. Good quality client base. Buyer needs to be qualified. |
| 661/240522 | Bedfordshire | £231,500 | Vendor taking early retirement. Total of top 10 clients’ fees £30,686. Buyer needs to be Chartered or Chartered Certified. |
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 | £250,000 | Where | London |
| Qualified | ACA, CTA | Age | 53 |
| Time scale | 4 months | Type of Practice | Sole Practitioner |
| Payment | 3 tranches | How paid | 50%, 25% & 25% |
| Multiple | 1.25 x fees | When paid | Comp, 12 months & 24 months |
| Offers | 3 offers | Office & staff | No office and no staff |
| Results | Vendor agreed to work for buyer for 12 months then move and live in Portugal | ||
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Testimonial from a vendor whose practice we sold in 2023:- |
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| I wanted to sell my practice because I was looking to retire. I found Draper Hinks mentioned on Accountingweb. So many people recommended Nicola that I didn’t bother to look at any other broker. Nicola clearly explained to me how it would all work. I was worried that some unscrupulous accountant would trick me into doing something I later regretted.
The Coaching Call was really important for me. It gave me the confidence to do the interviews with buyers on my own. I am very picky about whom I work with, so it was a nice surprise to be given so many buyers to meet. I chose the buyer because of his personality; he was head and shoulders superior to the others. He had the sort of integrity and honesty essential to me. I would be very happy to recommend Draper Hinks to anyone thinking of selling their practice. Without a broker to advise you, you could find yourself in the wild west of the business world with no-one to take your side. Frances Conn ATT Sold her practice in 2023 (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 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 |
| Quarter 2 | Apr – Jun | 0.998 | 0.80 | 1.13 | 0.65 | 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.