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Did you know there are good and bad times in the year to buy an accountancy practice? |
Nicola Draper Do you want to buy 100% remote fees? Let us know.
We have noticed that since Covid, there is a significant trend for accountants to be working from home, including those that have staff. Teams and Zoom meetings have replaced having to go into the office on a daily basis. This means that we are getting more practices where the work is done 100% remotely and no face to face meetings are held with clients. If you would be interested in buying such an accountancy practice then please let us know. We want to build up a list of buyers in this category, away from the normal geographical restrictions of being based close to the vendor. Please email either Diane Bester or Marie Large at d.bester@draperhinks.co.uk or m.large@draperhinks.co.uk. making sure we have your details ready to contact you.
Don’t leave selling your practice too late to enjoy your retirement.
Read our Vendor’s story with details of multiple paid
| Reference | Area | Amount | Description |
| 706/250224 | Cheshire | £528,462 | Sole Practitioner wants to pursue other interests away from accountancy and spend more time with family. Specialises in Farming, Rural Businesses and Property. Top 20 clients’ fees total £115,809. 6 staff, 5 are qualified. Premises available to rent or buy if required. Buyer needs to be Chartered or Chartered Certified. Must have proven experience of agricultural clients. Meetings arranged on an individual basis. |
| 708/250224 | Merseyside | £168,667 | Vendor is looking to retire. Buyer needs to be qualified. There are three members of staff. Top 10 clients’ fees total £47,440. This practice generates a high level of profit and there is potential to grow the practice. Meetings arranged on an individual basis. |
| 719/250324 | Bedfordshire | £392,000 | Vendor is looking to retire. The buyer needs to be Chartered or Chartered Certified and audit registered. Top 20 clients’ fees total £153,085. There are 2 offices and 3 staff – 2 are FCCA qualified. Virtual Zoom meetings with the vendor will be held on Wednesday, 16th April. |
Details of another deal done in 2024
| Fees sold | £750,000 | Where | West Midlands |
| Qualified | ACA & ACA | Age | 64 & 60 |
| Time scale | 10 months | Type of Practice | 2 Partner Practice |
| Payment | Three payments | How paid | A third, a third, a third |
| Multiple | 0.85 x fees | When paid | Comp; 12 months; 24 months |
| Offers | 2 offers | Office & Staff | Office and staff kept |
| Results | One partner worked to end of handover, other partner stayed on for 5+ years post sale | ||
Income Multiples Paid in the last 12 months
| 2024 | Quarter | Average income multiple paid | Lowest income multiple paid | Highest income multiple paid | Lowest income multiple offered | Highest income multiple offered |
| 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 |
| Quarter 3 | Jul – Sept | 1.063 | 0.85 | 1.20 | 0.70 | 1.25 |
| Quarter 4 | Oct – Dec | 0.988 | 0.65* | 1.15 | 0.65 | 1.195 |
NB None of the above figures are to be reproduced in any way without express permission from
Nicola Draper.
* One off payment made on completion with no clawback.
Your Guide to Buying
We have been helping accountants sell and buy practices for more than 20 years, and during that time we’ve learnt so much. We have collated all of our knowledge and experience into our new eBook, which is the ultimate guide to selling accountancy fees. You can download your copy from our website for free.
Here is a testimonial from a vendor whose practice we sold in 2024:-
I received Newsletters from Draper Hinks over many years and when I was ready to retire I contacted them. I liked the fact that their approach was completely different to that taken by other brokers.
I liked the confidence that Nicola had in their process and had read success stories of other vendors in the same position as me. I liked the personal touch and the updates throughout the process. Having a timetable for offers and completion is a great idea. It really keeps the buyer and seller on track. Nicola was true to her word and things moved very quickly but that was to my time frame.
I would never have been able to find the potential buyers that Draper Hinks unearthed. Don’t waste time trying to do it yourself. I will miss my team and my clients; they are like family. I will certainly not miss the December/January deadlines nightmare!
I would definitely recommend Draper Hinks to anyone thinking about selling their fees.
Dawn O’Connor FCA (Permission given to print her name)
Please check out our website www.draperhinks.com where you can:-
- Download our Draper Hinks Selling Fees eBook.
- Book a time to talk to Nicola on Calendly via 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 your accountancy practice, 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.