Life after AAT - Buying into a practice/partnership

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KW17 2LN
KW17 2LN Registered Posts: 12 New contributor 🐸
In anticipation of qualifying within the next few months, I'm researching the possibility of buying into a small partnership or practice - perhaps someone retiring / selling up etc.

I have a decent lump sum I'm willing to risk on such a venture and figure this may be an easier option to get into practice quickly rather than starting alone from scratch.

Anyone any experience of this or can point me to some handy links or war stories they can share? Thankyou.

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  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
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    Fancy moving to South West London?

    Interesting postcode by the way...!!
  • BCASL
    BCASL Registered Posts: 64 Regular contributor ⭐
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    I passed through there - amazing how there aren't any signs there!
  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    ha ha ha
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
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    Partnerships: tread with extreme caution. Don't go into business with anyone you don't know or haven't worked with before, or that doesn't have a long-established reputation. Shareholders agreement, director's service agreement, partnership agreement, get the lot and make them watertight. Otherwise you may have picked an apt username!

    Google "valuation of accountancy practice" to find out what you should be paying, there are many variables that can influence the "average" 1.0 x gross recurring revenue.

    Good luck.
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    BCASL wrote: »
    I passed through there - amazing how there aren't any signs there!

    I used to live at PL15 8QX - Splatt - there are no signs there either, they kept getting nicked by amused tourists!!!!!!
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • noodles
    noodles Registered Posts: 308 Dedicated contributor 🦉
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    anniem wrote: »
    I used to live at PL15 8QX - Splatt - there are no signs there either, they kept getting nicked by amused tourists!!!!!!
    Am I missing something, what is amusing with that post code, I cant see it, please explain ....
  • anniem
    anniem Registered Posts: 1,326 Beyond epic contributor 🧙‍♂️
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    Google KW17 2LN - think you'll see the joke!
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
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