It's the race to the line that is the end of the year, so we will keep this week's newsletter brief.
This week a Regional Queensland client with fees of $540,000 executed a Heads of Agreement with a preferred buyer. Our client's practice has been on the market for just 75 days which reinforces the strength in demand for good quality accounting practices in regional, not just metropolitan, locations.
Also this week another DMY client settled the sale of their practice. December has always been a busy time for finalising deals and this year in particular, with four clients settling sales of their practices in the last couple of weeks. We have several more in final contract stages, preparing for January settlements so it will be a short Christmas break for some!
A quick reminder - last week we listed a terrific accounting firm for sale: A very well run Gold Coast sole Principal practice with c. $730,000 fees. The owner is 37 and works a maximum ten hours per week. He is looking to sell and exit for medical reasons and has set the practice up for a smooth transition to new ownership. We expect huge interest from buyers so if you are interested check out the details below.
Next week we are pleased to be presenting to the Penrith Institute of Public Accountants Discussion Group on the market for buying and selling accounting practices. These are always enjoyable sessions with lots of engagement and good conversation. If you'd like us to speak at one of your Discussion Groups next year drop us a line.
If you are looking to sell your practice in 2022, reach out to us now to learn more about the market and what's involved. We are available to talk to practice owners right up until Christmas and can provide you with plenty of data, insights and food for thought to digest over the new year break.
Daniel and Mark