Welcome to this week's Market Update. We appreciate how busy Practice Owners are (when are they ever not?) so we will keep it brief.
Firstly, we have another great new listing to bring to market:
2 Partner firm, Melbourne South-East $1,163,000 in fees (ID#257)
We are seeing strong demand for good quality practices that have integrated accounting and bookkeeping, both from similar practices looking to grow and accounting practices looking to enter into bookkeeping. If this looks like a good fit, don't delay in registering your interest via the website listing.
As a reminder we also listed a specialist audit practice last week: 1 Principal firm, Brisbane $302,000 in fees (ID#269) Move on this one quickly if it looks a good fit and you haven't yet registered your interest.
Meanwhile, the COVID pandemic and its aftermath has led many people to reflect on what's important in their lives and, for some, to move out of the city and completely change their lifestyle. For accountants who may be thinking of going down this path we have a number of practices for sale in Queensland, Victoria and even Kangaroo Island in South Australia that offer the opportunity for a lifestyle change while still being able to run a great practice. In case you missed them before, or the timing wasn't right, below are the practices:
1 Principal firm, Regional Queensland $930,000 in fees (ID#236)
1 Principal firm, Townsville Qld $275,000 in fees (ID#213)
2 Partner firm, Kangaroo Island SA $410,000 in fees (ID#179)
1 Principal firm, Regional Gippsland Victoria $850,000 in fees (ID#110)
Lastly, I (Mark) had a great time at the NSW CPA Public Practice Forum last week. As well as DMY sponsoring the event (check out our awesome branded coffee cart below!), it was an opportunity to listen to some great speakers and reflect on the bigger picture of why we are in business and what's most important. The highlight for me was listing to Andrew Morello from The Entourage share his philiosophy on life which was along the lines of: My goal is to make lots of money so I can pay other people really well to do the things I don't enjoy doing, so I can spend more time doing the things I do enjoy with the people I love. Very powerful.