How much are you looking to receive / pay for the accountancy practice is a key question. For the smaller practices with turnover over of around £200,000 the normal rate is around 1 to 1.4 of the annual turnover / fees. For larger practices above this annual billing rate, the final fee will be more influenced by overall profitability.
How much is your practice worth in the current market conditions? Of course any business is only worth as much as another practice is willing to pay for it though the parameters above are a solid guide to the value. We are able to provide a ball park valuation from early conversations.
If this is satisfactory and you wish to proceed with discussions with possible suitors we will undertake a more detailed valuation on your behalf providing a written valuation of your client base, goodwill and annual revenue.
Within these discussion we can then take the proposal forward to the market and establish quality suitors for the business and a price that meets your agreed expectations.
If we are negotiating between a number of parties then the price will be at the upper end of the scale of course.