Selling small practice

Selling small practice

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Hi,

I have a change in circumstances that means it would now be a good idea to sell my small accountancy practice.

It is based in and around Bury St Edmunds, Suffolk

The turnover is just over £40k per year, has been built from nothing in 2 years, so it is very well branded and covers 50 clients - predominantly using cloud based software (mix of sole trader/small ltd co/bookkeeping/vat/payroll)

I would be very grateful of any advice, but would be nice to have a rough idea of its' worth, how to go about promoting the sale of a practice, the pitfalls to look out for and how to present the practice in its best shape, as it is a good little earner.

Kind regards

SJ

Replies (5)

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By Howard Marks
11th Feb 2015 21:56

PM
Queue the multitude of PM's...

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By juliestevens
11th Feb 2015 21:58

Talk to Nicola Draper

At Draper Hinks.  We sold some clients through her recently and she did a fantastic job.

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By mgandc
12th Feb 2015 07:53

APMA

Brokers are a great way of selling your practice.  We've used Lucinda Kitchen of APMA who was great.

 

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By Maslins
12th Feb 2015 12:51

I imagine there will be lots of people delighted to take this off your hands.  Sounds like a perfect little "starter pack" from which to grow.

You ask what it's worth, traditionally you're looking at give or take £1 value per £1 turnover...so in your case it might fetch £40k.  Could be more/less depending on various other factors.

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By noname
13th Feb 2015 01:51

me me me

Like many others, I have the cash ready to buy your fee bank. Just say when. 

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