Thursday 12 December 2013
You may have no interest in joining a nationwide brand. You may be an extremely successful firm in your own right. You may have just the right balance of work sources and staffing levels.
You may currently gift Search work to the likes of PSG or Xpress Legal and happily let them profit from your instructions. They may well be lovely people who provide a decent service at a good price.
You may, though, be looking at ways to increase your profitability.
If you want to retain a member of staff who's looking to leave your company in search of better things. If you have a spare member of staff. If you have other contacts, at other firms, who'd send you their search work. If you can see an opportunity here.
If other firms are making money from you then why not set up a LBL franchise ?
Five sets of Personal Searches per day could generate £90,000 per annum in additional revenue to your group of companies. Where there's a doctors practice there's generally a chemist. Where there's a solicitors practice why shouldn't there be a service company ?
If you want to sell the firm at some point retaining this revenue "inhouse" makes sense and will make you a more valuable commodity. It'll also act as a vehicle to operate if you want to step away from the day to day running of the firm and concentrate on being a businessman rather than a lawyer.
If you have the time to look into establishing a franchise and you're interested in anything you might have seen on other pages please call me on 0845 603 0708 or email via firstname.lastname@example.org.
Interesting times for all.