Since I am just starting out, I have an idea of renting a desk in an established practice firm instead of starting from scratch. Ideally I am looking for a sole practitioner who has an office but wants to scale down the business or in the process of selling his/her block of fees. I will look for my own clients so I am only looking for the infrastructure to use with a view to takeover the operation of the office later. I am not sure if this has been done before but I would appreciate your view on this matter before I waste my time in cold calling every small accountancy firms in my town.
Thank you.
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Replies (5)
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I doubt you will find anyone
You could maybe find another new practitioner willing to share.
I doubt you will find an established practice willing to do this, unless you have committed to buying the practice and handed over a substantial sum of money.
Worth a go
This is quite close to how I started out, ie working with an accountant close to retirement and then inheriting his clients as he wound down. Ironically, I'm now winding down and, if my circumstances were different, finding someone in your situation, to work with for a couple of years before passing over my clients, would be my ideal.
I believe there are a large number of practicing accounts in their late 50s and so it has to be worth a go, shouldn't take to many calls or approaches to find out whether there's any chance of success.
Good Luck
Thanks I will try my best.
I am still working hard to find the late 50s accountants who are willing to pass the baton to a younger generation. I don't really need their clients as I want to work in a very niche market. What I want is to leverage the existing infrastructure and know-how to operate a successful practice. I believe this will save me a lot of time to start from scratch. I guess it will be quite challenging to find a suitable practice that matches my requirement. If you know anyone who has recently sold their fees but still retaining an office operation please let me know.
Surrey but will also consider greater London
I am based in Surrey but anywhere in London is fine with me.
Thanks