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?