Welcome to this week's Market Update and a happy Australia Day for tomorrow. We are delighted to bring another new practice to market for sale this week:
South West Regional Victoria
1 Principal Accounting Practice South West Regional Victoria, $1,250,000 In fees (ID#298)
This practice is in an attractive lifestyle location with stable fees and strong profitability. It is well suited to a regional firm looking to expand its footprint, a Melbourne firm looking to establish a regional presence or an experienced individual looking for a lifestyle change.The Vendor, aged 57, is looking to transition to retirement over the next 3+ years.
If it looks like a good fit, register your interest directly via the website listing. [Note to buyers: When you register you will recieve a De-identified Practice Summary with an overview of people, clients, financials and commercial terms. If you send us an email instead expressing your interest we will direct you back to the listing to register as this is the only way to access the initial information you are looking for.]
For anyone who missed them last week we have just listed two other practtces for sale that are generating strong interest. The Melbourne practice is already up to 57 interested parties and the Perth practice 25. We are starting to speak to buyers who want to meet with the Vendors but there's still plenty of time to register your interest so check them out below and make a move if either looks like a good fit.
Melbourne
1 Principal Accounting Practice Melbourne Inner South-Eastern $600,000 in fees (ID#291)
This practice is in an attractive and high socio-economic area with a good quality client base and capable team. It is well set up for relocation and a smooth transition to new ownership. The Vendor, aged in their early sixties, is transitioning to retirement to spend more time with family and travel.
Perth
2 Principal Accounting Practice, Perth $1,125,000 in fees (ID#289)
Eighty per cent of the fees are from Perth clients and twenty per cent from an attractive satellite regional location, and it is also well set up for a smooth transition to new ownership. A Senior Manager, who handles the majority of the practice’s largest clients, holds 10% equity and is looking to continue with the buyer and open to equity opportunities down the track. One of the Principals is transitioning to retirement while the other is looking to spend more time with family after a 12 month transition.
Elsewhere we've already seen some early progress on sales in 2024 with the owner of an SMSF Administration practice successfully executing a Heads of Agreement with a preferred buyer: 1 Principal SMSF Administration Practice Western Australia $712,000 in fees (ID#278).
On a final note, February will see us launching a new series of free Webinars on Buying and Selling Accounting and Bookkeeping Practices. Topics covered will include selling prices, who is buying, retention terms, other market insights, tips for buyers and sellers, and much more.. If there is a particular area you would like covered, drop us a line below and we will endeavor to include it.
See you out there.
Mark and Daniel
mark@dmyassoc.com.au daniel@dmyassoc.com.au,
Helping sellers of accounting and bookkeeping practices achieve their best life.
