Practices up for sale online
The sale of a financial planning practice could soon be as simple as clicking a mouse button, following the unveiling of an internet site designed for the buying and selling of practices.
Practice4Sale.com.au is a confidential Internet based matching and listing service designed for financial planners looking to buy or sell an accounting or planning practice.
Practice4Sale.com.au chief executive Ted de Kok says the site enables practitioners to market their practice Australia wide.
"The site is great for smaller practices and rural practices that are looking for wide exposure. It also assists with the partial sale of a practice through equity/partnership sales," he says.
"There are currently 15 different practice professions listed on the site including financial planning and accounting but it also extends to others, such as medical practices."
De Kok says the site is subscription only, and caters for those seriously interested in purchasing practices. He says it a confidential way of purchasing or finding information about practices as all the leads or queries are forwarded back to an agent or broker.
De Kok says a prospective buyer can use the site's search engine to search for suitable practices using appropriate criteria including information on the size of the practice, its turnover and location. Practices that are listed on the site have a 90-day open-ended posting.
He says the site has been in development for over six months, and will offer free access until March.
Practices on the market - page 14.
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