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Newsletter
JOBTEL Practice Merger Catalyst Ltd Reg no 3404011
Winter 2009 Newsletter No B 10 ***SPECIAL OFFER TO BUYERS*** For an exclusive 10 day period only we offer you a package deal to assist in the acquisition of a practice. We will : · Talk with you and create a marketing plan. · Create a tailor-made mailshot-letter and give advice on “hooks” to attract sellers. · Mailshot your designated area at £1 per letter. · Include your requirement in an advert for 10%. · Give you exclusive use of replies for a time. · Collate initial information from a seller · Arrange initial meetings for you with a seller. · Give advice on heads of terms and the offer. · Give advice on clauses in the contract. If you wish, a follow up mailshot for 50% of the initial costs three Jobtel charges a success reklated fee of 2.5% of the sellers GRF. Minimum mailshot 250 letters. PLEASE CONTACT JOBTEL BY 15th November if you HURRY only the first 5 respondents get this offer. HOW THE RECESSION’S IMPACTING M & A ACTIVITY This could be YOUR OPPORTUNITY ? It seems likely:- 1) that the number of buyers is going to fall maybe to 50% of the number previously - as a buyer that’s your opportunity! 2) that many buyers will find finance is going to be difficult – but if you have cash in hand – that’s your opportunity!. Minster Chambers Minster Centre Southwell Notts NG25 0HD Phone 01636 812960 Fax 01636 816211 Email enquiries@jobtelmand .co.uk HOW TO IMPROVE YOUR FEES IN A RECESSION 1) TRY OUTSOURCING Well we don’t yet really know how the recession will hit the average firm’s clients. As part of the HMG package the Banks are supposed to help smaller cos. If the past is anything to go by there will be wide variations between Banks and within Banks between regions until things settle down. But one thing is certain that the clients affected are going to NEED YOUR HELP. They are going to try to REDUCE THEIR costs and one way YOU can help is to reduce your fees! One way of doing this is to OUTSOURCE. Yes, so long the butt of bad jokes, but outsourcing to 2) TRY TO HELP CLIENTS CUT COSTS Accountants who are commercially aware are going to see this as an opportunistic break to let them help clients. It doesn’t take much to put together a “Cost analysis check” that you can roll out as a special job. What that might mean in its simplest form is to sit alongside the small co MD and offer to go through all his costs with him and just see if an independent check might not help him reduce costs? These firms will add value and profit and earn the respect of their clients …………………………………………………………… WATCH ON CONSOLIDATORS SHARES Begbies 138 -- Tenon 48.25, -- Vantis 75.50 now Begbies 160 -- Tenon 53.5, -- Vantis 100.75 summer These shares fared badly though Begbies are expected to do best in poor conditions? Expect all to improve! CONSOLIDATORS – If you wish to discuss the creation of a consolidator at National, Regional or Local level please call us to discuss…Jobtel completed its retainer period with Vantis in May 2007 and we can again take the leading role in promoting a new Consolidator. Jobtel thinks that as soon as the recession is over there will be at least TWO more consolidators anxious to crystalise their goodwill – cash in their hard earned chips – and why not!!! Call to discuss Jobtel do Seminars - The demand for seminars on practice M & A seems to go in waves so in the early 2000s we did 20 or so up and down the country. If you need advice 1) call us 2) buy the book or 3) call your own Institute, Town Group, District Society or Regional operation, (depending on whether you are ICAEW or ACCA) and suggest that Jobtel are invited to give a 90 minute seminar to a group. Jobtel normally do this free of charge except for travelling expenses of, say, £50 or £60. The benefit of a session like this is that you are able to ask any questions that might be worrying you! We also carry out valuations of practices for a standard fee of £750. We carry out a wide range of valuations; death or divorce of a practitioner, practice splits, potential partner buy-in, transfer to Ltd Cos as well as firms just wanting to know how they stand and what they can do to improve their valuation. This involves a visit to the practice and Jobtel usually prepare a valuation on two bases and perhaps a third one for larger practices. These are 1) on GRF/turnover 2) based on profitability X number of years earnings and 3) based on the present value of a stream of income. If we can help you in your valuation, please do not hesitate to call us. Jobtel’s new hourly paid M & A consultancy service Several firms have now taken advantage of this service and we will assist you in any part of the M & A procedure (except DD) Jobtel will work for you on an hourly consultancy basis only e.g where you have already located a buyer and don’t need the all inclusive service. We ask for a deposit of £400 plus VAT, which entitles you to 4 hours of our time. This might be a phone call from you, a fax or an e-mail on any matters coming within Jobtel’s expertise. We aim to reply within 48 hours. You may ask us to represent you at meetings, (in which case our rates are doubled), or remain undisclosed. So why not take advantage of this offer? Jobtel has done probably many more deals than you! So why not use our skills selectively? JOBTEL RE-WRITES THE BOOKS (out Jan ’09) Jobtel are revising their series of books. These contain the sum total of our wealth of knowledge of the deal process. We prepared the chapters initially in response to queries but we got fed up of spending hours on the phone explaining we thought we’d write it out in full Seller’s Pack 214 pages 40% discount = £132 inc p&p Buyer’s Pack 187 pages 40% discount = £156 inc p&p Merger’s Pack 184 pages 40% discount = £129 inc p&p Valuation Pack 179 pages 40% discount = £69 inc p&p Maybe you want to do your own practice M&A? Maybe you feel you don’t need a broker? These are available for you, as our special contacts, at the discounted rates shown above. (no vat – send chque) DIRECTOR Julian E Hamilton FCA MBA BA Julian Hamilton is in the office most days until 7.00pm, so call him directly for a confidential chat he is always ready to offer help and advice. WE HAVE MOVED AGAIN!!!! We hoped to move into a “purpose built office” alongside our former home, then due to builders delays we had to move out into temporary accommodation the last of which was too large and costly to run. So we moved again – hopefully for the last time!!!! Jobtel, Minster Chambers, Minster Centre, Southwell, Notts. NG25 OHD Phone : 00 44 (0) 1636 812960 Fax: 00 44 (0) 1636 816211 Email. enquiries@jobtelmanda.co.uk – sometimes this appears difficult to get if so use jobtel@btconnect.com See the Web which we update regularly TIPS FOR A BUYER (2) You can prepare for an acquisition in several simple ways. 1. Try to work out the average fee you charge your clients and the sort of firm that you want to acquire. Don’t just run at any firm that’s available. Compare charge out rates! 2. Don’t get hung up on payingCapital sums based on GRF – valuations are moving away from that towards one based on a profit multiple. Don’t imagine that by taking on low margin work you can necessarily change profits quickly. It’s difficult to change the basic business format. 3. Watch out for the TUPE rules tightened in 2006 even temporary or sub contract staff can in certain cases be taken as full time staff to whom you must offer like for like employment. IF YOU WANT TO BE TAKEN OFF OUR DATABASE |
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