Architecture Practice buying and selling information:
View our list of architecture practices for sale
The following information is a guide including market tips to those who are looking to either buy or sell an architecture practice. For more details feel free to contact us so that we can evaluate your requirements and inform you about how we can help you achieve your goals.
Why would you want to sell or buy an architecture practice?
Having an exit strategy is very important. You may have spent many years or your entire career building up your practice, adding clients, developing your reputation and brand. There will be a point in your life where you will need to plan to realise the full financial potential of this important asset.
If you have an existing practice and you want to expand the acquisition of an already established practice is one of the options that you have to grow your business. It takes time, energy and money to expand geographically or indeed move into other niche areas within the market. Purchasing an established, reputable and profitable business to add on to your business can reap great rewards particularly as it is easy to strip out duplicate system costs and absorb much of the additional practices expenses into your existing architecture practice.
This efficiency savings can improve the profitability of purchased practices and reduce the time to recoup your investment.
How do you value an architecture practice?
This is a difficult question and there is no market formulae to quantify in a simple manor the value of your business. Attractive and profitable practices sell well and often have multiple interested parties who are competing to acquire. Market forces in these circumstances drive the price to the appropriate market level. After all your practice is only worth what someone is willing to pay for it. Our wealth of knowledge in this field can help appraise and value your practice and then take it to the market.
Can I sell my practice without a broker?
Yes, absolutely. You can approach potential purchasers in your market and sound out any interest. This won’t cost you any money in brokerage fees however there will be your time at stake and potential loss of growth in your business whilst your focus is elsewhere. Confidentiality is also a key area and it is also well known that local competing practices may take the opportunity to find out in depth about your business and review your accounts to potentially exploit the local market without acquiring your practice.
How does the sales process work?
We have many already registered buyers who are interested in opportunities to grow their own practice in this market. Many are asset rich and don’t require external funding. Our services include market appraisal, practice valuation, marketing and brokerage of your business. We work on your exit strategy leaving you to concentrate on what you are best at. Also many owners have never sold a business before and prefer for the process to be handled by experts. Mistakes are expensive and having someone to guide you through the process can prevent many of these occurring.
Once we take your practice to the market we will screen buyers talk them through your business. It is only when we have a financially screened and interested party that we will then forward them onto you for the rest of the sales process. Finding the right buyer is the key.
How long does it take?
This depends on the interest and guide price. A well marketed, profitable practice can sell in 2 months however the time frame is normally in the region of 5-7 months. If you have ever asked yourself "how do i sell my architecture practice"? then contact us.
