LOOKING TO BUY ACCOUNTING FEES?
P J Camm & Associates
The demand for fees in in the Melbourne metropolitan area is at record high levels. In fact, we have more than two hundred registered buyers and only a handful of practices for sale. These practices are mainly in regional Victoria with several in the Gippsland area.
Because of the massive imbalance between supply and demand we have a lot of frustrated buyers, some of which have been looking to buy for several years. Some of the impatient buyers are even offering to pay a premium price to get into the market and prices remain very solid for fee parcels of all sizes.
So, with so many buyers in the market how do you jump the queue and get an interview with a vendor? Well, our process starts by matching the profile of the fees for sale with the buyer’s criteria including location and size of the fee base. Vendors will generally eliminate any buyers who don’t have finance pre-approved because the banks can take three of four weeks to approve the finance and in that time a practice will often sell.
We provide the vendor with a list of qualifying candidates together with any background information on the buyer and the vendor will then do some due diligence. This often starts with a review of the buyer’s website. Vendors will just want to meet with two suitors at a time and in this market, the practice often sells without any other prospective buyers getting a look in.
It’s a tough market for buyers but if you haven’t registered as a buyer we urge you to complete the buyer’s registration form and confidentiality agreement on our website at http://www.pjcamm.com.au/practices-for-sale/
Finally, if you have any queries in relation to buying or selling fees please contact us today.