We had a very good year in 2024 and managed to complete 40 deals. Many of these deals were whole practices being sold, but there has been a trend for sellers to downsize and sell part of their practice. We are finding these tranches of fees are very popular with buyers because they are easily accommodated into their existing business without having to take on bigger premises or more staff.
We asked a number of our vendors from 2024 what they are doing having sold their whole practice and are no longer involved in the accountancy world. This is what they shared with us:-
- I sold my practice because retirement was long overdue. I am most looking forward to building my holiday home, having the time to read and travelling.
Charles Ellinas (Permission given to use his name)
- I wanted to sell my practice to do other things. I am most looking forward to making websites and I am delighted I am not an accountant anymore!
Dan Imray (Permission given to use his name)
- I knew it was time to retire because I lost all enthusiasm to learn new tax rules. I am now looking forward to having time to myself to get fit and not being “on call” for clients all the time.
Jan Woodburn (Permission given to use her name)
- I heard about Draper Hinks through Accountingweb and I decided it was time to sell my practice and retire. I want to take more holidays and take more exercise.
Neville Ford (Permission given to use his name)
- I had to sell my accountancy practice because ill health made it necessary. I had received many Newsletters over the years from Draper Hinks, so got in touch. I am looking forward to rediscovering my record and cd collection that runs into thousands of items.
Stephen Cooke (permission given to use his name)
- At my age I needed to do less and have more time for my wife and myself. I am looking forward to no tax returns or accounts, more days away and golf.
Michael Zakis (Permission given to use his name)
- I sold my practice because I wanted to retire and take a long holiday.
Paul Case (permission given to use his name)
- It was my time to retire. I am so looking forward to walking, swimming, sketching, exploring the South West of England and spending more time with my wife!
Richard Evans (permission given to use his name)
NB:- If you want to do any of these fun things by selling your accountancy practice, please contact me at n.draper@draperhinks.co.uk so we can have a no obligation, confidential chat at a time to suit.