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Brokering accountancy practices:

Oven-ready Business for sale

Didn't find your answer?

Do you want to run a business acting as a broker? Between those wishing to sell their practice to those wishing to acquire?

There are over 100 personal hours invested in this project, so it would be such a waste to throw it all away. Especially if there were a budding entrepreneur out there that could pick this up and run with it. So, I'm open to offers if someone wanted to buy.

Hit the ground running - I have ready:

A Company - Release & Acquire Ltd (11927630)

Website – MyGRF.co.uk

Bank Account – Clydesdale

Vendor demographic forms etc.

Template sale and buying agreements.

The website is not professionally built, but using the WIX website building tool, it's not that bad (if I do say so myself). SEO and Google analytics is the next task, but not for me. 

WHY:

I retired from the profession last year and, with the onset of MTD and other changes abound, I felt there were many other baby-boomer accountants ready to do the same, sell up and retire. So, I set up Mygrf with the intention to run as a part-time business from home and still make a reasonable living.  

I thought the ideal time to launch was after the recent January mayhem; however, having now touched this point, I've come to realise that what I ultimately wanted to do is retire. Full stop. Do things all those exciting things when I still have the health and money to play.  

 

 

Replies (9)

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By Mr_awol
27th Feb 2020 12:11

Whilst the quality of the website need not be a barrier (personally I think yours is no worse than viviansram.co.uk and they seem to do ok) I'm not sure what you've really got to 'sell'?

This isn't your area but you've spent a bit of time cobbling together some template agreements and built a DIY website. Now you either don't want to continue, or cant, and you want to flog it to someone else who equally isn't an expert (otherwise they could probably have gotten to where you are very quickly I imagine).

If, on the other hand, you've got a comprehensive database of willing sellers and/or interested buyers, then maybe you have something - but you dont mention any of that?

Sorry if this sounds harsh. Maybe I have watched too much Dragons Den.

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Replying to Mr_awol:
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By SXGuy
27th Feb 2020 12:34

I'm out.

Thanks (1)
Replying to Mr_awol:
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By Nippy
27th Feb 2020 14:18

You misunderstand my post....
This is not a business for sale!
This is not a franchise on offer!
But, if someone is likeminded and is entrepreneurial enough to recognise the potential market, then this will save them a huge amount of time (other than knowledge acquisition).

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Replying to Nippy:
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By Mr_awol
28th Feb 2020 14:04

Doc 1

Nippy wrote:

You misunderstand my post....
This is not a business for sale!
This is not a franchise on offer!
But, if someone is likeminded and is entrepreneurial enough to recognise the potential market, then this will save them a huge amount of time (other than knowledge acquisition).

You say that, but you previously said:

Nippy wrote:

There are over 100 personal hours invested in this project, so it would be such a waste to throw it all away. Especially if there were a budding entrepreneur out there that could pick this up and run with it. So, I'm open to offers if someone wanted to buy.

Hit the ground running - I have ready:

A Company - Release & Acquire Ltd (11927630)

Website – MyGRF.co.uk

Bank Account – Clydesdale

Vendor demographic forms etc.

Template sale and buying agreements.

The website is not professionally built, but using the WIX website building tool, it's not that bad (if I do say so myself). SEO and Google analytics is the next task, but not for me.

So you have spent time building up something that you are open to offers for people to buy, including a ready-made company, bank account, and some IP (which may or may not have any value) but that's not a business for sale.

Either I'm the wrong person to be buying this, or you're the wrong person to be selling it. Possibly both.

And you want three hundred grand of my childrens' inheritance to do it? Not today sunshine. I'm out.

Thanks (1)
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By justsotax
27th Feb 2020 12:42

if it is as oven-ready as Brexit is then it is far from ready

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By Justin Bryant
27th Feb 2020 13:12

I wonder who brokers normally use to sell their broker businesses?

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Replying to Justin Bryant:
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By SXGuy
28th Feb 2020 15:07

Broker brokers of course silly.

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Replying to Justin Bryant:
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By Clinton Lee
28th Feb 2020 16:37

When they want to sell, many of them come to me.

I'm the only expert on business brokers in the UK and tend to have the ear of the people best placed to acquire them.

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By Clinton Lee
28th Feb 2020 16:52

Nippy, sorry, what you've got is not worth anything.

Sure, you spent time and money on it, but that alone doesn't make it an asset of any value.

There are millions of abandoned projects like this on the internet - projects that people started before realising it's a lot more work than they thought. And, invariably, they try to present it as an opportunity for some entrepreneur to exploit.

Cloud cuckoo land, I'm afraid.

I put a long post together for people like you who are bailing on a project and trying to extract at least a little bit of return on the resources they dumped into it: https://www.reddit.com/r/SellMyBusiness/comments/cgbct5/started_a_projec...

Maybe that'll give you an idea or two.

But people like Nicola Draper (a name I mention as she's a broker selling accountancy practices) travels all over the country setting up meetings with prospective clients and works her [***] off to get clients.

I last spoke with her just about a month ago - I speak with lots of brokers - and I have huge admiration for the amount of effort she puts in.

And she needs to put in that work despite having spent many years building a reputation and recognition in the industry.

It ain't easy! Which is probably something you've only recently realised. Have a look at the link I posted, it may offer you an idea for a way forward.

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