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Selling Small Accountancy Practice

Looking for advice

Didn't find your answer?

Hi

I have a change in circumstances that means I would need to sell my small growing practice in Berkshire.

I would be very grateful of any advice and recommendations on finding a broker, who could promote the sale, find a good buyer and offer on hand support. 

TIA

Replies (19)

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By Mr_awol
26th Mar 2019 16:48

I'll give you fifty quid for it.

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Replying to Mr_awol:
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By ArsalanShah
26th Mar 2019 16:54

Your sense of humour is quite poor ..... :)

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Replying to ArsalanShah:
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By Mr_awol
26th Mar 2019 17:10

I don't disagree, but am unsure of the relevance.

I am unconvinced that your question was 100% intended to gain referrals form brokers, and that a small part of your reasoning was to see if anyone leapt in with an offer. I'm doing you a favour by kicking off the bidding.

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Replying to Mr_awol:
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By ArsalanShah
26th Mar 2019 17:35

May be i should have given some information on number of clients,technology used and my expectation etc but i thought it was not necessary at this stage because I am simply looking for recommendations if that makes sense..may be not..

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Stepurhan
By stepurhan
26th Mar 2019 17:00

How small?

You want a broker to put a lot of work in. What makes your practice, and you, worth their time?

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Replying to stepurhan:
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By ArsalanShah
26th Mar 2019 17:40

stepurhan wrote:

How small?

You want a broker to put a lot of work in. What makes your practice, and you, worth their time?

Revenue < £100k

Second part of your question is actually absurd unless you are a broker? They work for fee atleast in this world dont they??

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Replying to ArsalanShah:
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By Cheshire
26th Mar 2019 19:14

Some brokers will not touch it unless its £200k +

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Replying to Cheshire:
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By ArsalanShah
27th Mar 2019 10:54

This was one of my concerns actually therefore thought to seek some advise and do my research before knocking on doors.Thanks!

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Replying to ArsalanShah:
Stepurhan
By stepurhan
27th Mar 2019 08:35

ArsalanShah wrote:

Revenue < £100k

How much less? £1k is less than £100k. Is your revenue £1k?
Quote:

Second part of your question is actually absurd unless you are a broker? They work for fee atleast in this world dont they??

Have you never turned down a client because they ask the earth (which you seem to be doing) and aren't willing to pay a fee commensurate with that effort?

Based on how you are reacting here, I don't think I'd want to take you on if I was a broker.

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Replying to stepurhan:
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By ArsalanShah
27th Mar 2019 11:09

stepurhan wrote:

Based on how you are reacting here, I don't think I'd want to take you on if I was a broker.

Thank you for your ironic reply. There are better ways of saying things but unfortunately, your choice of words and approach is always patronizing.

Thanks (6)
By James Green
26th Mar 2019 21:10

Kevin Smith at Vivian Sram is excellent. I have sold once and bought seven times through Kevin.

http://viviansram.co.uk/

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Replying to James Green:
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By ArsalanShah
27th Mar 2019 10:53

James Green wrote:

Kevin Smith at Vivian Sram is excellent. I have sold once and bought seven times through Kevin.

http://viviansram.co.uk/

Thank you,will give him a quick call.

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Bramble
By Chris.Mann
27th Mar 2019 10:40

http://draperhinks.com/

These agents write to me, regularly. From what I see, they are a credible firm. I'm also sure that Jennifer Adams has mentioned them, in one of her posts too?

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Replying to Chris.Mann:
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By SJRUK
27th Mar 2019 11:33

Chris.Mann wrote:

http://draperhinks.com/

These agents write to me, regularly. From what I see, they are a credible firm. I'm also sure that Jennifer Adams has mentioned them, in one of her posts too?

I can recommend these - Nicola Draper was excellent when we sold our practice and our buyer was impressed too.

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Replying to SJRUK:
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By ArsalanShah
27th Mar 2019 14:26

SJRUK wrote:

Chris.Mann wrote:

http://draperhinks.com/

These agents write to me, regularly. From what I see, they are a credible firm. I'm also sure that Jennifer Adams has mentioned them, in one of her posts too?

I can recommend these - Nicola Draper was excellent when we sold our practice and our buyer was impressed too.

Just spoken to Nicola who was extremely helpful,feeling hopeful :)

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By Andy Reeves
02nd Apr 2019 11:25

We had one aborted £300k purchase through Draper Hinks, and another one that proceeded in 2017 for £50k, so they will deal with smaller practices.

I have looked at some from Vivian Sram, but most of the ones I have looked into have been pretty poor quality.

The best I have found is Keith Underwood at Foulger Underwood ([email protected]) who encourage both parties to be realistic. Used them twice, in 2007 (£80k) and 2017 (£350k).

If you have a continuity agreement with another practice, they may be interested. We have just picked up a tranche of 11 clients (£25k) in January, and have an outline non-committal agreement for the remaining £20k fees when the practitioner retires, possibly in a couple of years.

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7om
By Tom 7000
03rd Apr 2019 11:40

broker will charge you and Me, how much do you want for it. How far are you away from me, clients don't travel that far, but I may be close GU14 7LY

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Replying to Tom 7000:
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By ArsalanShah
03rd Apr 2019 13:34

Hi Tom
Just pm'd you. Speak to you soon.
Many thanks,

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Tony s
By Tony S
03rd Apr 2019 14:39

Just an observation, slightly off topic.

In the good old days, the old accountingweb site had an "Opportunities" section where folk could post things like Blocks of fees for sale, consultancy work, subcontractors needed stuff etc..

I found this section interesting and on a couple of occasions very useful. This would have been a good platform for ArsalanShah to test the water.

I'm not sure why Sift scrapped it.....

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