Market Conditions

The market for practice has been buoyant over the last three years. Our sales have ranged from small blocks of fees to larger multi-partner practices throughout England and Wales.

Prices for practices have remained constant over the last few years, with good quality practices with a turnover of less than £350,000, attracting multiples of between 1 and 1.15 (subject to a clawback).

Demand for practices continues to be strong. Interest ranges from small blocks of fees of £50,000 to larger practices with fees of £1million+ where there is the opportunity for gradual exit. Each new sale generates interest from often 10 to 20 firms with some having 30+ firms interested.

There is still signs that some buyers are experiencing difficulties raising finance for deals, particularly where they are new start up and have no proven track record of managing a practice.  Where a buyer is an established practice, however, lenders take a much more favourable approach to finance.