Selling and buying an accountancy practice
What is the difference between an agent and a broker in the sale and purchase of accountancy firms?
Why should I use a broker?
I am not sure if I want to sell but can I talk to Draper Hinks, without commitment or costs, to explore my options?
I notice you are based in Warwickshire – do you deal only with that area?
Will you find the right sort of practice to sell to?
How can I be assured of impartiality?
Who pays the broker?
How do I value my accountancy practice?
What is the average selling price of an accountancy practice?
I want to cut back and downsize my accountancy practice. Can I sell just part of it?
When will I receive payment?
What is a clawback clause?
My accountancy practice is very small – can I still sell?
How long will it take to sell my business?
What is the best time of year to sell?
If I sell, what guarantees are there that the buyer will not immediately raise fees and so alienate clients?
Do you only recommend the purchase of accountancy firms with a capital sum? I have heard that earn out is also common.
I do not want clients, staff and competitors to know I am selling. How can I remain
anonymous during the negotiations?
I am thinking of selling in a year or two. How can I add value to my practice now?
I know I will have to meet potential buyers but I don’t want them in my office, as staff will be alerted and I haven’t yet told them. Can I meet them off-site?
My office is rural and out of the way. Will this affect a selling price?
Do buyers and sellers need solicitors?
If I died, does my practice have a value?
Aren’t there laws that mean the buyer has to take on my staff?
If I sell, will I have to continue working for the practice for some time?
I have one freehold building and one leasehold office. Would they be included in the sale?
What happens about work in progress and debtors?
Must I continue with PI insurance?
Is buying the best way to grow an accountancy practice?
Can Draper Hinks help with disputes?
Do you charge anything to approach the market?
As a seller, if the letters to those on your first list don’t get any positive response, where do we go from there?
Do I have to register with you as a seller or buyer? Who do I contact?