| Details of a deal done in 2024 | |||
| Fees sold | £80,047 | Where | West Midlands |
| Qualified | QBE | Age | 73 |
| Time scale | 6 months | Type of Practice | Husband and wife partnership |
| Payment | 2 payments | How paid | 50% & 50% |
| Multiple | 1 x fees | When paid | Completion and 12 months |
| Offers | 3 offers | Office & staff | Office closed no staff to move to buyer |
| Results | Looking forward to spending more time with family and playing golf | ||
The vendor contacted Draper Hinks to say that at the age of 73 he needed to do less work and have more time for his wife and himself. He heard about us from a personal recommendation and had been told we were good at what we do. He also looked at Accountingweb and saw lots of very positive reviews about Draper Hinks. So, he decided to get in touch and give us a try.
He said he found the team at Draper Hinks to be incredibly supportive and helpful throughout the whole process and that we were able to put his and his wife’s minds at rest. He felt that the process was an extremely easy one to follow, especially with the advice available from the whole team at all times. There was a lot of “hand holding” when necessary and support and advice when asked for.
He was very concerned about finding the right buyer, with the right fit for his clients. He had three firm offers put forward and we had a Zoom call with him to discuss each of the offers to see which one was the best one for him. He chose the buyer that matched his ethos the closest, believing that would give him both the highest retention and the happiest clients. It is interesting to point out that the chosen buyer did not put in the highest offer.
He and his wife were most looking forward to not having any tax returns or accounts to do and to be able to do things on the spur of the moment without any prior planning – like days out, spending time with family and playing more golf. Just having the luxury of doing something just because the sun was shining.
He did say he would miss the contact with the clients, who had over time become friends. He would not miss the deadlines and dealing with HMRC! When asked, he said that he would be happy to recommend anyone to use the services of Draper Hinks to sell their practice.
If you want to have a no obligation, confidential chat about your own situation, contact me, Nicola Draper at n.draper@draperhinks.co.uk.