All Systems Go For 2023!

Welcome to our first Market Update for 2023. We hope you all had a great Christmas and New Year break. The pace of life never seems to get any slower and we took advantage of some well-earned time off but are now back re-energised for a big year ahead. 

Two "safe" predictions to kick off the year: 1. Practice owners will continue to be challenged with finding and keeping great staff to service their clients; and 2. The strong demand to acquire good quality practices evidenced in 2022 will show no signs of slowing down this year.  Clearly there is some crossover with these two trends. As one practice owner, a buyer, said to us this week: "talent acquisition is as important to us as client acquisition when we assess potential targets."

We are delighted to bring a new practice to market for sale this week: A one Principal practice with c. $466,000 fees in Melbourne's Eastern Suburbs. Check out all the details below under Just Listed. There is sure to be strong interest so, if it looks like a good fit, don't delay in registering your interest via the website listing.

Now is the time of year when many people take stock of their lives and contemplate changes. For anyone considering a tree-change move to the country we want to remind you that we have a great practice in Regional Victoria for sale that could be an ideal fit: 1 Principal firm, Regional Gippsland Victoria $850,000 in fees (ID#110). The Vendor is aged 74 and willing to undertake an extended transition over a number of years to ensure a smooth change in ownership.

More broadly, even though the year is only a few weeks old, it has been a busy and productive time for DMY and our clients:

• A 1 Principal firm,  Western Sydney  $750,000 in fees (ID#152) successfuly settled the sale of their practice.

• A 1 Principal firm, Brisbane South East $1,055,000 in fees (ID#231) has successfully executed a Heads of Agreement with a purchaser and is now moving through due diligence. 

As we flagged at the end of 2022, a total of eleven practice owners (including two this year already) have signed up with DMY ready to take their practices to market early this year. These include practices in Sydney, Melbourne, and Brisbane, as well as several high quality Regional practices. 2023 is shaping up to be a very active year for buyers and sellers and, for anyone else thinking of selling, now is the perfect time to start getting organised.  As our latest Market Data reveals, the prospect of securing a successful outcome for you, your clients and your team are excellent.

On a final note we are looking forward to spending more time on the road this year meeting with practice owners all over the country. Stay tuned for more details but we are always open to meeting up with practice owners whether you are ready to sell, thinking of selling in the future, or looking to get a greater insight into the market.

See you out there!

Daniel and Mark

daniel@dmyassoc.com.au         mark@dmyassoc.com.au 

1 Principal firm,  Melbourne Eastern Suburbs $466,000 in fees (ID#223)

New South Wales

1 Principal firm,  North West Sydney Accounting and Bookkeeping Practice  $900,000 in fees (ID#164)

Queensland

2 Partner firm, Brisbane Inner Suburbs $2,800,000 in fees (ID#195)

1 Principal firm, Townsville Qld $275,000 in fees (ID#213)

1 Principal Audit firm, Brisbane Qld $400,000 in fees (ID#153)

South Australia

2 Partner firm, Kangaroo Island SA $410,000 in fees (ID#179)

Victoria

1 Principal firm,  Melbourne Eastern Suburbs $466,000 in fees (ID#223)

1 Principal firm, Melbourne Inner Suburbs $430,000 in fees (ID#200)

2 Principal firm, Geelong Victoria $550,000 in fees (ID#64)

1 Principal firm, Regional Gippsland Victoria $850,000 in fees (ID#110)

1 Principal firm, Brisbane South East $1,055,000 in fees (ID#231)

1 Principal firm,  Regional Gippsland Victoria $1,300,000 in fees (ID#162)

1 Principal firm. Melbourne East Fees of $448,000 Accounting and $294,000 (ID#209)

1 Principal firm,  Regional North Victoria  $1,132,000 in fees (ID#199

New South Wales

1 Principal firm,  Western Sydney  $750,000 in fees (ID#152) - sold 12/22

2 Partner firm, Sydney CBD ~$950,000 in fees (#SM424) - sold 07/21

2 Partner firm, Regional NSW & Sydney ~$2M in fees (#SM408) - sold 04/21

Bookkeeping practice, Sydney ~$$450,000 in fees (#SM428) - sold 04/21

Sydney South accounting practice ~$398,000 in fees (#SM411) - sold 05/20

ACT

1 Principal firm, ACT ~$870,000 in fees (ID#112)  - sold 10/21

Queensland

1 Principal firm, Brisbane South $204,000 in fees (ID#216) - sold 11/22

1 Principal firm, Gold Coast Qld $530,000 in fees (ID#202) - sold 11/22

1 Principal firm, Brisbane North $1,600,000 in fees (ID#190) - sold 09/22

1 Principal firm, Brisbane South $714,000 in fees (ID#188) - sold 08/22

1 Principal firm, Brisbane North West $263,000 in fees (ID#175) - sold 07/22

1 Principal firm, Queensland Northern Gold Coast ~$730,000 in fees (ID#125) - sold 04/22

1 Principal firm, Gold Coast - Qld ~$900,000 in fees (ID#86) - sold 02/22

1 Principal firm, Queensland North of Sunshine Coast ~$540,000 in fees (ID#126) - sold 12/21

1 Principal firm, Brisbane North ~$1,200,000 in fees (SM407) - sold 08/21

Brisbane accounting practice ~$1,448,000 in fees (SM409) - sold 09/20

Brisbane accounting practice ~$2,133,000 in fees (#SM410) - sold 07/20

South Australia

1 Principal firm, Port Adelaide, SA $425,000 in fees (ID#84) - sold 06/22

1 Principal firm, ~$515,000 in fees (#SM405) - sold 05/21

Victoria

1 Principal firm, South Melbourne $620,000 in fees (ID#204) - sold 11/22

2 Partner firm, Melbourne Inner Suburb $1,500,000 in fees (ID#168) - sold 09/22

1 Principal firm, Regional North East Victoria Fees of $433,000 in Accounting and $62,000 Financial Planning (ID#151) - sold 08/22

1 Principal firm, Melbourne West  ~$700,000 in fees (ID#122) - sold 05/22

1 Principal firm, Melbourne North  ~$300,000 in fees (ID#127) - sold 03/22

1 Principal firm, SE Gippsland ~$430,000 in fees (#SM401) - sold 01/22

1 Principal firm, Melbourne Inner South East ~$555,000 in fees (ID#123) - sold 12/21

1 Principal firm, Melbourne South East ~$1,360,000 in fees (ID#116) - sold 11/21

1 Principal firm, Regional NE Victoria ~$1,000,000 in fees (#SM427) - sold 11/21

1 Principal firm, Geelong region ~$495,000 in fees (ID#117) - sold 10/21

1 Partner firm, Melbourne CBD ~$1,250,000 in fees (ID#96) - sold 09/21

 1 Principal firm, Melbourne South East ~$540,000 in fees (ID#105) - sold 06/21

1 Principal firm, Melbourne Inner North ~$360,000 in fees (ID#413) - sold 06/21

1 Principal FP firm, Mornington (#SM403) - sold 07/20

Melbourne/National bookkeeping practice ~$1,100,000 in fees (#SM404) - sold 06/20

1 Principal firm, Melbourne Inner North ~$800,000 (#SM417) - sold 12/20 

1 Principal firm, Melbourne SE Suburbs ~$636,000 in fees (#SM402) sold 12/20

Email: contact@dmyassoc.com.au
Phone: 03 9448 2308
Web: dmyassoc.com.au

Sydney: 903/50 Clarence St, Sydney NSW 2000 
Melbourne: Level 8, 805/220 Collins St, Melbourne VIC 3000 
Brisbane: 9/204 Alice St, Brisbane QLD 4000
Adelaide: 3/55 Gawler Place, Adelaide SA 5000

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