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Selling Pack

The sale / merger of your practice

Summary

Traditionally the market has favoured sellers, however the tide is starting to turn as the market responds to growing economic pressures and as significant changes in government legislation herald the incoming digital age which can no longer be ignored… If you are thinking about selling – we believe that for many practices there may not be a better time…

Please read our article Essential Guide to Selling a Practice

Is it worth paying a broker’s fee?

If it’s true that it’s still a seller’s market for the time being, why do I need to incur consultancy fees using a broker when, as a professional, I should be able to sort out my replacement myself? After all, I know my clients, my staff and my business better than any outsider ever could.

Why you may need help…

We call it ‘objective professionalism’. The sale of the goodwill of an accounting firm is probably the biggest financial transaction that will ever be undertaken by the principal(s) of a practice. The selling process is vital, and professional advice is fundamental to a worry-free experience.

As a seller (vendor) you will understandably be concerned that the purchaser may not retain your clients, giving rise to a claim under the claw back clause which could cost you dear.
You will need advice with marketing so that you may be confident that your anonymity will be retained ensuring that neither your staff nor clients (nor competitors) will be made aware of the sale until you can introduce them to the new owner in a controlled manner.

Expert objective advice is vital in the selection of a short list of suitable buyers because if you don’t have strength in depth, you may move forward with a selected buyer only to find you have no immediate replacement if they drop out. Furthermore if you sell to the wrong buyer, you may get the highest sale price but suffer extensive claw back claims at the end of the claw back period.

We have not found a similar service being offered elsewhere within this marketplace, and we firmly believe you get what you pay for! It is worth paying someone to ensure you get it right first time. Testimonials

What if..?

What if the purchaser over extends him/herself and cannot make subsequent payments, or dies while you are still an unsecured creditor? Should you sell to a first time buyer or a long established local firm; a sole practitioner or a group practice? Can the fees be serviced from my offices or should I let the buyer integrate them into their offices? What if they ‘hike’ the fees up once they take control causing clients to leave? Could I be storing up trouble which will erupt when the purchaser slaps in a big claim under the claw back agreement? Can I have a clean deal in place with the right buyer so that I can move on without worrying anymore?

A.P.M.A.’s track record speaks for itself

To our knowledge, during the past 25 years or so, only one practice whose sale we have brokered has lost more than 5-10% of the fees bought during the warranty period. In fact, we are more used to purchasers billing up to 115% of the fees they bought!

Like it or not, the new owner is usually more ‘bright eyed and bushy tailed’ than the vendor, who has often become jaded and less enthusiastic about generating more business from existing clients, let alone going out there and finding more clients!

There is often a need to make way for new blood – but that’s no reason to give your goodwill away!

A.P.M.A.’s unrivalled experience is not only based on a track record of successful sales over the past 50 years (based on our original selling model) but has answers to the many pitfalls which the inexperienced seller cannot hope to have. Experience counts for everything.

A.P.M.A. will take your cares away!

How? By calling on our 50 years experience in selling fees!

We have a formula for success which has been refined over the past five decades enabling the boast that Jeremy Kitchin Practice M & A has not failed to sell a practice or block of fees within the agreed parameters during the past 5 decades, give or take a handful of anomalies.

So how is it done?

Usually an initial chat to discuss your options will be the first step. Then, if you would like to go to the next stage, we ask you to complete the Selling Pack. The next step is a comprehensive meeting during which we will get to know you, your firm, and your requirements. From there on in we will hold your hand throughout the process making sure you are fully supported at every stage. We offer similar guidance to the would-be purchasers as they too are shepherded through the process, ensuring their full confidence in you, the seller, as well as their total commitment to you when the time comes for them to make their offers.

The ultimate goal is to achieve a win-win outcome for all parties using the formula: willing seller: willing buyer.

 

A.P.M.A. We get it right first time.

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