Below you'll find a list of all posts that have been categorized as “Blog”
Anyone thinking of selling their practice would be best advised to get in touch with Draper Hinks as soon as they have decided to take this step. It is important to understand the process that we follow when selling an accountancy practice. The first thing we offer is a free, confidential discussion about your own situation. Everyone’s circumstances are very …
Details of a deal done in 2024 Fees sold £79,000 Where London Qualified FCA Age 77 Time scale 5 months Type of Practice Sole Practitioner Payment 2 payments How paid 50% and 50% Multiple 1.2 x fees When paid Completion and 12 months Offers 4 offers Office & staff No office and no staff Results Vendor was looking forward to …
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 …
At Draper Hinks we like to set up a Meeting Day where the vendor can meet a number of potential purchasers on a one on one basis throughout the day. The rationale behind this is that a vendor is more likely to sell their practice if they meet with more than one buyer. We vet each buyer to make sure …
Details of a deal done in 2024 Fees sold £90,000 Where Northamptonshire Qualified FCA Age 60 Time scale 5 months Type of Practice Sole Practitioner Payment 2 payments How paid 50% & 50% Multiple 1 x fees When paid Comp & after 12 months Offers 2 offers Office & staff No staff and no office Results Looking forward to getting …
At Draper Hinks we pride ourselves on understanding what our vendors are looking for when they sell their practice. Well over 80% of our vendors want to know that their clients will be well looked after post sale and it is not uncommon for a vendor to reject a higher offer for a better “fit”. Our aim is to match …
Details of a deal done in 2024 Fees sold £150,000 Where Dorset Qualified FCA Age 63 Time scale 4 months Type of Practice Sole Practitioner Payment 1 pmt then earn out How paid 50% & over 2 years Multiple 1 x fees When paid Comp & quarterly Offers 4 offers Office & staff Office closed staff moved to buyer Results …
In 2024 we sold a practice for a Sole Practitioner. She was looking to retire to start a new career away from the accountancy world and was relying on the proceeds of the sale. She knew that her new venture would need to have some capital behind her before she would start to see a return. Having a cash reserve …
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 …
Draper Hinks has had a good year. We can finally say we have bounced back from the effects of Covid where we lost over 85% of our business overnight. Things are looking much brighter. My main observations as to what trends are becoming more prominent are several. We are still working with vendors that have paper-based practices. This is something …