Key Questions for Sellers (part 1)
The first in a four-part series answering the questions vendors ask most as they consider selling their goodwill — updated for 2026
Is my practice too large/ too small?
A large majority of UK accounting firms are still sole practitioners or small partnerships, which means the greatest demand in the market sits with smaller practices and blocks of fees — small firms simply don’t have the spare management or financial capacity to absorb a bigger acquisition. A £50k practice is often much sought after, while a £500k practice outside a major conurbation may attract noticeably less interest, purely because fewer buyers are equipped to take it on. There is no such thing as a practice or block of fees being too small.
How long does it take to sell a practice?
The quickest sale we’ve ever achieved, from authorisation to proceed, was 48 hours — though the vendor in that case took a considerable reduction in price to get there. We’re also regularly retained by executors of estates to handle disposals swiftly, before clients and staff drift away; under those circumstances we can usually reach Heads of Agreement within three weeks of authorisation. Under normal circumstances, four months is the usual timeframe to reach Heads of Agreement; after that, the pace depends heavily on the respective solicitors. If the sale period falls across July and August, or December and January, expect the process to lengthen a little.
Can I sell my goodwill & still earn an income stream?
Yes. Fees remain in high enough demand that, within reason, a vendor can set conditions on a sale. A good broker will make sure any respondents to your opportunity know from the outset that you wish to retain a small block of clients. The purchaser will naturally want certain warranties written into the sale agreement to protect their position, but this arrangement is a common and workable one.
Can I keep a small block of clients & sell the rest?
Yes, within reason. If you can satisfy the purchaser that the clients you’re retaining won’t be pulled back into competition with the goodwill you’ve sold, there’s no reason you can’t keep a small block of fees for yourself. The safeguards the purchaser needs to feel comfortable with this are normally built into the warranties section of the sale agreement.