Legal Brokers Ltd

Wednesday 20 September 2017

Sell a Law Firm

Are you looking to sell a law firm in England & Wales and looking for a valuation ?

 

If you are a Partner in a solicitors practice and are considering an exit strategy we can help with both putting a valuation on the law firm and subsequently marketing it.

 

According to the Gazette there are 9,000 firms, of less than 5 Partners, where the Equity owners of the business are nearing 60 years old. That age starts to make a person contemplate succession planning and that's where we can help. 

 

From a cost perspective, we'll negotiate a fee to visit your premises, assess the assets, and run through the firms accounts to put a valuation on the business.

 

Ultimately any business is only worth what another person, or entity, is prepared to pay. And that becomes a matter for yourself to decide how long you want the process to take. ie. are you looking for a quick sale or prepared to take your time to tie up the best possible deal ?

 

In general terms a buyer may fall into various categories:

 

  • A similar law firm looking to remove a competitor. 
  • A firm looking to gain a geographic footing.
  • A buyer who maybe attracted by an existing firms mechanism to generate new business (Online, Business Development Staff, etc).
  • Those perceiving merit in the brand and perceived "goodwill" of a law firm.
  • Firms looking to buy into existing Contractual arrangements.
  • A firm looking to "bolt on" an additional service. ie. Conveyancing, Probate, Litigation, Immigration, etc. 
  • Outside investors 

From our perspective, we have a steady stream of purchasers who are looking to invest and as such we are actively looking for more law firms looking to sell.

 

In it's simplest form we charge £500 + VAT to initially list, and sell a law firm. There is a success fee on the completion of a deal.

 

If you would like a preliminary conversation with regards to both valuing and selling a firm or would be interested in listing your Practice with ourselves please contact us via 0845 603 0708 and ask for Jon or Nick.

 

 

Jon Hilton

Director

Legal Brokers Ltd

Law Firm Sale & Valuation, Specialists

  

 

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