For the majority of our clients this will be the first time they have ever sold a business so it is essential to obtain the right advice.

Increasingly over the last few years it has become apparent, as in many professions, that succession has become more difficult. The younger generation are happy with their salary packages and will do their hours and go home to their families. They no longer want the risk and rewards associated with owning a business and the thought of a large loan to buy a business gives them nightmares. In the large practices Partners come and go without any goodwill payments changing hands and they will attract the risk averse candidates.

It is now more likely that a practice will be bought by a much larger practice. The buyer will not necessarily have an office nearby to you as many are seeking to expand their geographical area. To gain exposure to these new areas they may be willing to pay good prices. Niche practices also tend to achieve above average prices.