It's great to be back in Sydney this week for our first trip since travel restrictions eased. We are just finishing up a busy three days of meetings with practice owners looking to sell, recent buyers, several banks, and a much overdue celebration with a two partner firm whose practice we sold nearly four months ago.
There was a consistent theme from many of the conversations: there is strong pent up demand to acquire good quality firms and a sense that, with light at the end of the COVID tunnel, there will be an increase in supply of firms for sale in 2023. We have already seen a strong pick up in enquiries over the last month from practice owners considering a sale, and support the view that 2023 will be a big year for buying and selling.
This week we are delighted to bring another new listing to market. This is a one principal practice with $300,000 in fees based in Melbourne. We are averaging 76 buyers for each metropolitan sales listing and don't expect this one to be any different. Check out the details below and move quickly if this is of interest.
Last week we spoke at a CPA Australia event to over 250 accountants on the market for buying and selling, and have fielded several enquiries since to speak at local CPA Discussion Groups. If you would like us to speak at an upcoming event do reach out. We plan to be spending a lot of time in 2023 travelling around Australia and would love to present either in person or virtually.
Elsewhere another DMY client - a one principal firm with $1.3M in fees in Melbourne, successful executed a contact of sale.
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 seven 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