A quick reminder - we brought another new listing to market last 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.
We've certainly seen an uptake in interest over the last few weeks from practice owners who are looking to sell. One question we often get asked is how long it will take. We always answer: "It depends..." but click on the following link for the typical scenarios that we see: How long to sell my practice
Elsewhere two clients successfully executed their Contract of Sale in the past week: An ACT practice with $870,000 in fees and a Regional Victorian practice with $1,000,000 in fees. We have more clients in a similar position who will be finalising their sales in the lead up to 31 December.
With COVID restrictions easing, it's great to see increasing signs of activity and people coming together. Tomorrow we are delighted to be speaking at the Public Practice Forum, South Australia organised by CPA Australia, and next week we are presenting at a CPA Discussion Group in Melbourne. Both on the subject of the market for buying and selling accounting practices. It's clearly a hot topic! If you want DMY to present at your discussion group simply reach out.
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