Life after AAT - Buying into a practice/partnership
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.
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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Comments
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Fancy moving to South West London?
Interesting postcode by the way...!!0 -
I passed through there - amazing how there aren't any signs there!0
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ha ha ha0
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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.0 -
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Google KW17 2LN - think you'll see the joke!FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire0
