As a business broker we work with both the buyer and the seller. We are not an agent who works for only one side. Our aim is to help the vendor get more than one offer so that they can have a choice. We also aim to help all buyers put their best offer forward. If a buyer has not …
I often get asked if there is a good time or a bad time for selling accountancy fees. The obvious answer is not to try to sell your accountancy practice in December or January. I am now going to contradict myself by saying you can actually sell fees any time in the year, if you have to. We have had …
Confidence has a great impact when selling or buying an accountancy practice. The vendor has to be confident that the buyer can look after the practice post sale or no deal with ensue. We once had a buyer with a turnover of £10k looking to buy a practice with £300k. The vendor was not confident the buyer would cope with …
We all know that Making Tax Digital has been delayed because of the general election for at least a year. Many accountants would say that it would be good if it could be scrapped completely but that is unlikely to happen. MTD has had a significant impact on the market place and as a broker I have noticed that we …
It never fails to surprise me how many different ways there are to put in an offer. Why is it that accountants enjoy being so creative with numbers and can come up with a myriad of ways in which to offer for an accountancy practice? We organise meeting days for our vendors. Our aim is for the seller to have …
We have had a significant increase in the number of enquiries from accountants looking to sell their accountancy practices before the start of making tax digital in 2018. February is a busy time of year for us because vendors do not want to have to do another January. This leads to a spate of enquiries and us marketing many practices …
We have just gone through the process of changing and updating our website. It is now live and I hope you like the “new look”. It was a necessary job that needed doing. You will find that we now have an informative free guide on our Home Page that can be downloaded. It contains information for both sellers and buyers …
The most obvious way to increase your fee income is by targeting existing clients in the right way. Nicola Draper offers some words of advice. In my last article, I explained why practices that market themselves properly are the most profitable and command a higher price when the time comes to sell up. I also outlined good PR practices that …
I had a call this week from a sole practitioner in the North of England asking me what the ideal size would be for selling a tranche of fees. Selling a tranche of fees is quite a common request that we get at Draper Hinks. I asked him to explain why he was asking me that question. It turns out …
Is size everything when it comes to accountancy practices? Nicola Draper finds one man who thinks not. Is size everything when it comes to accountancy practices? Nicola Draper finds one man who thinks not. While everyone is talking about the importance of growth, is it always the right thing for your business? Downsizing tends to refer to people selling large …