Everything You Need to Know
Rob Proctor, through his 25 years plus working for Iris, has extensive relationships with accountants throughout the UK and we have also built up a database of accountants who are looking to buy fees.
We also, on behalf of clients, discreetly approach local firms, establishing if they are interested in buying fees without them knowing the identity of the selling accountant.
In addition, we can run specific marketing campaigns, both digital and in print.
How will you find potential buyers?
The traditional valuation is a factor of GRF (Gross Recurring Fees).
Staffing continuity, IT infrastructure, office ownership, location and parking, standard of client base, categories of clients etc. would all have a bearing upon the value of a practice.
Every practice will have unique circumstances which impact the valuation and it is important to fully understand the requirements of both the buyer and seller as well as the structure of the deal before confirming a valuation.
How is a practice valued?
Buying and selling an accountancy practice is unique as in order to ensure client retention, the seller and buyer must have an excellent working relationship for at least 12 months post sale if not for significantly longer.
Using a broker ensures that negotiations are kept cordial throughout the process without ill feelings or misunderstandings.
Selling an intangible asset like accountancy fees is different from selling a business and having someone to advise you on the different structures will ensure you get maximum piece of mind and value.