Welcome to this week's Market Update where we introduce two more new practices for sale in Victoria and Queensland.
Melbourne South-Eastern - Accounting Practice $690,000 Fees (ID#283)
This is an established and reputable practice less than 20 kilometres from Melbourne's CBD. The practice has stable fees, strong profitability and well managed debtors. The Vendor, aged in their late fifties, is looking for a change in lifestyle and to focus on other business ventures.
Brisbane Eastern Suburbs - Accounting Practice $430,000 Fees (ID#301)
This is an established boutique practice c. 20 kilometres from Brisbane's CBD. The practice has a stable and growing local client base of small businesses and sole traders with no reliance on any one client group. The Vendor, aged in their sixties, is transitioning to retirement.
If either looks like a good fit, register your interest directly via the website listing.
This brings to seven the number of new practices that we have listed for sale so far in 2024 with another ten that we are currently preparing to list including practices in New South Wales, Queensland, Victoria and Tasmania across accounting, bookkeeping and audit. 2024 is shaping up to be another strong year of market activity with strong demand from a diverse range of buyers on the hunt for the right opportunity.
As a reminder we also listed a practice in Melbourne's Outer South-East for the first time last week.
Melbourne Outer South-East - Accounting Practice $617,000 Fees (ID#276)
Buyers are already coming through wanting to meet with the Vendor so, if this looks like a good fit, don't delay registering your interest and getting across the Information Memorandum.
Meanwhile, it has been no surprise to read this week that accountants have emerged as the most in-demand professionals in 2024. Nearly every practice owner we speak with, whether selling or buying, recognises "people" as one of their top challenges/opportunities. Losing key staff can be a key trigger for an owner deciding to sell, while the ability to take on a talented team is an important factor for buyers. We are seeing more firms turn to a hybrid onshore/offshore model but even attracting and retaining good quality people offshore is becoming increasingly competitive. "People are our most important asset" is easy to say but it's never been more relevant as a source of competitive advantage and driver of a practice's value and success. Are you spending enough time on attracting and retaining great people in your practice?
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.
