I've got a sector of my business that I'm considering selling at some point. It's part of my normal practice but has been separated just for advertising. E.g. it has its own website, phone number, social media etc.
It's in a rapidly growing market, I get 10 x more potential clients through this website than my main one. It's top of Google for the main searches.
It's got huge potential, trading history is decent but it's very new so not much to go on.
Is there anyone that anyone knows who sells niche accountancy practices like this? The normal GRF's wouldn't be suitable.
I know it's probably too early to sell but it would be good to see potential future interest from somebody experienced.
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That's why I said it's probably too early :P
It is taking up a lot of my time answering general advice questions then being ghosted but the number of potential clients signing up is still decent
What do you mean by 'potential clients signing up'? Either they are confirmed clients signing up, or merely potential clients expressing interest. If the latter, then it has little or no value.
Taking up a lot of time
Being ghosted
Potential clients
‘advertise hard specifically to the niche’ per your comments on a thread the other day. For that read that’s how you got to the top of google/costly?
Not really selling this much are you!
There are a couple of agencies mentioned on here that have been consistent over the years. V? Shram (not sure I’ve even got the name right ), Nicola Draper. Just do a search on aweb.
I'm not trying to sell it right now, I'm planning on selling at some point when it is fine tuned and smooth. I won't lie, it does take up a lot of my time, the sector does bring out a lot of people who are just after free info but it's still profitable even though the cost of advertising and the time spent.
It's in it's very early stages so just wanted to discuss with someone who has experience in selling a business like this so I can build it to it's maximum potential.
Thanks, I'll have a look and contact a few to see if they can help.
I would stop giving out free advice and start charging for consultations. Nobody wants to inherit that kind of expectation
True but as it's so early on it's worth it to get the name out there.
Once it's got some history and word of mouth behind it then it's easier to charge, at the minute it's good advertising
Vivian Sram Ltd, is the name you are trying to recall. Nicola Draper's firm is Draper Hinks.
Why wouldn't normal GRFs be applied? If it is very niche your market of buyers with appropriate knowledge would be fairly restricted which would reduce the value. The clients might be more loyal if you are an expert in that niche but it would be very rare that there is no competition at all
There is a lot of added value in addition to GRF's. It's not something you can just buy a block of fees and change everything over to your systems. There's a lot of add-on things that are needed to give the clients the info they need and I've created the systems to allow this so that's the value.
Hi Duncan, sorry just saw your message.
I've made a plan now but I've saved your number in case I need to discuss in the near future.
Thanks for the offer