This week we are delighted to bring two high quality practices to market, both in Queensland.
A Brisbane Inner Suburbs Accounting and Business Advisory Practice with c. $2.8 million in fees. The two Partners, aged 53 and 50, are looking to merge to support succession planning and help fuel their next wave of growth. Neither is looking to retire.
A Brisbane South East accounting practice with c. $1,055,000 in fees. The sole Principal is looking to retire.
We are seeing strong appetite for high quality practices in South East Queensland and there will be high levels of interest in both these opportunities. Details are below under JUST LISTED. If either looks like a good fit for you, don’t delay in registering your interest via their respective website listings as the Vendors are keen to start meeting suitable buyers this side of Christmas.
Meanwhile, we continue to see good progress for our clients across Australia over the past ten days:
To demonstrate how quickly the market is moving right now, a Melbourne client - 1 Principal firm. Melbourne East Fees of $448,000 Accounting and $294,000 (ID#209) - listed less than three weeks ago and has already narrowed down to meet five high quality interested and vetted buyers. This is out of a total of sixty initial enquiries and over a dozen parties quickly expressing interest to meet the Vendor. We put this down to a significant number of buyers consistently missing out in the face of limited supply of practices for sale. They are ready to move extremely quickly - and competitively - when they see the right opportunity.
It's certainly been a busy time over the last month with a number of owners also signing up for their practices to be sold in early 2023. This year has been a very positive bounce back after COVID but we are predicting that 2023 will be an even bigger year for buying and selling accounting practices.
As the year is rapidly drawing to a close we have been deep-diving into our recent sales in preparation for our next six-monhtly release of Market Data. We will be sharing this in next week's Market Update. There will be some interesting insights - stay tuned!
For anyone thinking of selling in 2023 now is the perfect time to start the conversation and get ready to hit the market in late January / early February. To discuss your situation and options reach out to us below:
You can always read what former DMY clients have to say about us here: Testimonials.
Daniel and Mark