Below you'll find a list of all posts that have been categorized as “Blog”
We have three USP’s that we are proud of and feel this makes us better than other Accountancy Brokers. First – We hold meeting days for our vendors. When a vendor approaches Draper Hinks and lets us know that they want to sell their accountancy practice or a tranche of their accountancy fees, there is a process that we undertake …
The importance of keeping everything confidential when selling your accountancy practice It normally takes some time for a vendor to decide to sell their practice. It is not unusual for us to start to talk to a vendor 2 – 3 years before being asked to find a buyer. I often meet vendors away from their office to discuss the …
THIS IS THE FIRST INVITED CONTRIBUTOR TO OUR BLOG Nicola Draper has invited a number of people to contribute to the Blog on the Draper Hinks website. Marc Ovits is a financial adviser with several advanced qualifications and many years experience in the industry. He has submitted the following:- Selling a business has many financial implications Selling your business may …
Buying accountancy practice We had two instances last year where buyers thought that they could not afford to buy a practice we were selling. One practice was in the Midlands and had fees in the region of £200,000. The other practice was in the North East, north of Newcastle upon Tyne and had fees in the region of £185,000. In …
I was recently contacted by a vendor who wanted to sell his practice. He had fees in the region of £150,000. He was a sole practitioner and had two full time members of staff. He said he had already met two buyers and had two offers on the table and did not know what to do. I discussed the two …
I recently had a phone call from an accountant who wanted to sell his fees. He was in his mid sixties and thought it was about time he did something about it. He had been to a seminar, run by his institute, who told him that there was not a ready market for fees of £60,000 or below. He started …
In the last couple of months I have been asked a few times, by sole practitioners looking to retire, about the feasibility of taking on a new partner(s) who will eventually buy out the practice allowing them to retire. This all looks fine on paper but I would seriously warn against anyone doing this. I have heard horror stories where …