We are delighted to bring another new listing to market this week: A Melbourne West practice with c. $700,000 fees. This one Principal practice has a strong local reputation, stable fees, a healthy level of profit and an attractive client base of mainly small business clients. It is sure to attract a lot of interest from buyers. Check out the details below.
With an average of 76 interested buyers competing for every practice for sale in metro locations it's a very competitive buyer's market. Last week we shared our insights on how buyers can compete and win: How to Successfully Acquire an Accounting Practice Against 75 Other Buyers.
This week we turn our attention back to sellers (our clients!). We know the next few months are a time when many owners turn their minds to that all important decision on whether to sell or push on for another 12 months. To support owners with their decision making, we are sharing this week our top tips on Why Use A Broker To Sell Your Practice, And How To Choose the Right One. It's only a five minute read and invaluable for anyone serious about selling.
Elsewhere a Victorian client of DMY with $495,000 in fees successfully executed their Contract of Sale this week. The owner has told us that they have already bought a new caravan ready for some serious travelling now that borders are opening up. We love it!
On the subject of borders opening up, we are looking forward to being back in Sydney in November for the first time since lockdown finished. If you are considering selling do reach out to us and we can organise a catch up to discuss your personal situation and the state of the market.
Many practice owners see 30 June as a logical time of the year to transition their practice to new ownership. If you are looking to sell your practice by 30 June next year, reach out to us NOW to find out how we can achieve a great result for you and your practice. There are just under eight months to the end of the financial year, and kicking off the process this side of Christmas will leave you in great shape for a successful outcome.
Daniel and Mark