Welcome to this week's Market Update. The good news is that summer starts tomorrow (although if you live in Melbourne you wouldn't think so). The bad news is that, if you are like me, there are only four weeks left until Christmas and a hundred things still to get done in a short space of time. Fortunately my 12 year old daughter is highly proficient in PowerPoint and has prepared a very neat presentation with everything she'd like from Santa including details on brands, sizes and convenient links through to the relevant online stores. It's certainly not how we rolled when I was 12!
As a reminder we listed an integrated accounting and financial planning practice in the outer suburbs of south east Melbourne two weeks ago:
2 Principal Accounting and Financial Planning Practice, Melbourne Outer South-Eastern Suburbs $740,000 Accounting and $270,000 FP fees (ID#240)
If this looks like a good fit register your interest via the website listing. The Vendors are already starting to meet interested buyers this side of Christmas so don't miss out.
We also have a great practice in the northern suburbs of Brisbane that we are highlighting this week. This practice has stable fees and a good quality diverse base of small business clients. The Vendor, aged in his sixties, is transitioning to retirement. It was previously advertised as "South East Queensland" so here it is again in case it was overlooked first time round:
1 Principal Accounting Practice, Brisbane Northern Suburbs $850,000 in fees (ID#157)
The run-up to the end of the year is always a busy time for deals progressing. In the last two weeks we have had two more practice owner clients successfully execute Heads of Agreements with preferred buyers which is a great early Christmas present for them:
1 Principal Bookkeeping Practice Brisbane $152,000 in fees (ID#279)
1 Principal Accounting Practice, Townsville Qld $275,000 in fees (ID#213)
Meanwhile, if you are looking to buy or sell a bookkeeping practice, check out The Australian Successful Bookkeeper Virtual Summit taking place next week on December 5th & 6th. I (Mark) am presenting a session on the current market for buying and selling bookkeeping practices using our latest Market Data and recent case studies. Register now to reserve your spot: https://campaigns.arosoftware.com/view/dmy/871409?ct=https%3A%2F%2Fwww.thesuccessfulbookkeeper.com%2Fvirtual-summit-2023.
That's a wrap for this week's Market Update. If you are thinking of selling your practice by 30 June 2024, now is a great time to start the ball rolling. With 80% of our practice sales occurring in 90 days or less, a listing in late January / early February will set you up well to complete your sale this financial year. Getting ready to list does take preparation so get in touch now to find out what's involved. We already have six practices all across the country getting ready to list early next year so we forecast that 2024 will be another busy time for buyers and sellers.
See you out there!
Mark and Daniel
mark@dmyassoc.com.au daniel@dmyassoc.com.au,