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 listen to your needs and give impartial valuable advice as to the best way forward. If you are not sure what to do but think you need to do something then email me at n.draper@draperhinks.co.uk or phone me on 01788 816440, we are here to help. |
Have you thought about selling a tranche of fees?
If you are struggling to cope with the workload and cant see a way forward then have you thought about selling a tranche of fees to lessen the pressure? For many accountants, getting new business is not a problem, but if you are not able to do the work then the back log piles up and you end up absorbing all the stress. There is a national shortage of good quality staff available to employ. If you do nothing about the situation it only gets worse. Please consider the possibility of selling a tranche of fees to alleviate the situation, turning it back into a manageable level so that you actually enjoy going to work. Now there’s a thing! Call me to discuss 01788 816440.
| Details of a deal done in 2023:- | |||
| Fees sold | £202,200 | Where | Dorset |
| Qualified | QBE | Age | 51 |
| Time scale | 6 months | Type of Practice | Sole Practitioner |
| Payment | 3 tranches | How paid | 43%, 28.5% & 28.5% |
| Multiple | 0.86 x fees | When paid | Completion; 12 months; 24 months |
| Offers | 2 offers | Office & staff | Office closed, staff retained |
| Results | Vendor working part time for buyer and enjoying the part time lifestyle | ||
Are you a seller in one of these areas?
This is only a small sample of some of the buyers registered with us, we have many more that are keen to buy. These buyers have specifically asked us to find a seller for them in your area and are keen to proceed. If you are interested in finding out more, then please contact me, Nicola Draper, at n.draper@draperhinks.co.uk quoting the reference.
| Ref | Where | Amount |
| P5/W1/DHB/13 | Bedfordshire | up to £650k |
| P5/W1/DHB/14 | Worcestershire | up to £500k |
| P5/W1/DHB/15 | Warwickshire | up to £100k |
| Testimonial from a vendor whose practice we sold in 2023:-
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| I was working too much and needed to change what I was doing so I decided to sell my practice. I did not retire, I stayed on working with the buyer but on a part time basis. I had spoken with Draper Hinks over time and my thoughts of the sales process gradually evolved over a period of several years. I knew I had to do something but what not sure what that looked like.
Nicola was very helpful even when the conversations I had with her were merely fact finding and exploring different scenarios. There was never any pressure and I felt that Nicola was trying to find the right option for me, rather than push me towards a deal to generate a fee. I was looking for an unconventional exit strategy. I would happily recommend Draper Hinks to anyone thinking about selling their practice whatever the scenario. Martin Briggs FCA Sold his practice in 2023 (Permission given to print is 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 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.
Next step
If you are thinking about selling your accountancy practice, then contact Nicola Draper at n.draper@draperhinks.co.uk or call her on 01788 816440.