There continues to be strong interest from firms looking to buy, and good progress made by our selling clients.
In the last fortnight two of our clients - a Melbourne practice with $1.36m of fees and a Canberra practice with $870,000 in fees - have signed Heads of Agreement with preferred buyers and are now moving through due diligence and Contract of Sale preparation.
We have also seen strong early interest for our most recent listing - an established one Principal Practice with $540,000 of fees located north of Sunshine Coast, Queensland. This practice has an attractive, stable client base and a longstanding team. It's ideally positioned as a tuck in for the right buyer who is a good cultural fit for the clients. Check out the details below.
More broadly we have been conducting some analysis of twenty of our recent listings and share the results below, with two key messages in respect of metro practices selling through DMY:
1. They attract an average of 76 buyers per listing.
2. They realise an average selling price of 110 cents in the dollar
Results for regional practices are more mixed, but still positive, reflecting the much small buying pools that that these lisings typically generate.
How we achieve these results is because DMY applies a structured, logical and data-driven approach to determine a realistic sale price for each practice that we list. Then, our unparalleled network of buyers and robust deal process means we will attract many interested parties to help secure you a strong commercial outcome and a great cultural fit for your clients.
Here is the supporting data:
Note: All client listings have been de-identified. Listings are ranked in ascending order in each graph ie #1 in Graph one is not necessarily the same as #1 in Graph 2.
Many practice owners see 30 June as a logical time of the year to transition their practice to new ownership. If you are looking to sell your practice by 30 June next year, reach out to us NOW to find out how we can achieve similar results for your practice. There are just under nine months to the end of the financial year, and kicking off the process this side of Christmas will leave you in great shape for a sucessful outcome.
Daniel and Mark