Welcome to this week's Market Update. To kick off, we are tackling a BIG question: When is the right time to sell?
It's a question we see weigh heavily on many practice owners when it comes time to let go and sell their practice. It requires a deeply personal reflection and there is no universal “right” or “wrong” answer. At the heart of this question is the important concept of identity - who or what we are. To gain some deeper perspectives on this, we recently sat down with an expert in this field as well as several former practice owners. You can read our findings in our latest blog below. It's a valuable read for any owner wrestling with this dilemma and includes practical advice to steer you to the "right" answer (for YOU!), as well as valuable insights and tips from the practice owners to help set you up for a successful sale outcome. Enjoy: When is the Right Time to Sell?
Meanwhile, we are delighted to bring another new practice to market for sale this week, this time in Regional New South Wales:
NSW Central Tablelands - Accounting Practice $400,000 Fees (ID#290)
This is another in our series of recent practice listings that is in an attractive lifestyle location with stable fees and healthy profitability. This opportunity would suit an existing practice looking to expand its regional presence or an individual looking for a lifestyle change or going out on their own. The Vendor, aged in their sixties, is transitioning to retirement.
If it looks like a good fit, register your interest directly via the website listing to receive more information.
* Reminder to buyers: When you register you will receive 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.
We have been attracting good levels of interest on the new Regional Victoria practice listed last week. In case you missed it, here it is again:
South West Regional Victoria - Accounting Practice, $1,250,000 In fees (ID#298)
On a final note, I (Mark) will be in Sydney later this month visiting several clients and other practice owners, while Daniel will be visiting Adelaide for a few days. If you would like to meet up for a coffee and informal conversation about your situation, reach out to either of us below.
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.
