Here's something you might be interested in..... Conveyancing & future Personal Injury cases.... but I will admit we're looking for something in return...
Personal Injury cases - Quid Pro Quo (so to speak)
Via various income streams we had a turnover, in our last financial year, of seven figures. ie. we have a wee bit of "nous" as my Nana used to say.
We work with a small number of solicitors on the PI front but we're looking to add to that with ten firms who will provide reciprocal business. ie. Conveyancing Searches or ATE insurance etc, etc.
In a nutshell we've employed staff to find cases, one lady comes from an environment generating 60 PI cases per day, but to this point we haven't hit on the right source of MOJ approved information. And it's a costly process to go through.
Hence my question is whether your firm would send us, say, property searches and then when we strike "PI gold" we'll return the favour by sending Personal Injury cases through to yourselves.
We'd want to charge a commercial price for the PI work but if your current search provider isn't providing reciprocal business, and we can work to the same prices, the relationship could work to both our advantages. ie. help us develop our PI department and secure us as an introducer to yourselves.
The Chinese have a curse which is something along the lines of, "may you live in interesting times". It seems the legal world is definitely experience interesting times and I would suggest that as opposed to joining networks (ie. rebranding to Quality Solicitors & giving away income etc etc) that an alliance could be the way forward....
Conveyancing Referals & cases
We've historically provided Conveyancing Enquiries to the industry and have a potential vacancy on our panel.
Scenario 1. We provide the Enquiries and it's upto you to convert them into cases. If you have a facility to follow up leads this could be an ideal opportunity to beef up your conveyancing numbers.
At conversion rate of 5% a case would cost £76 + VAT and at a 10% conversion rate a case would cost £38.00 + VAT. I would suggest you'd need to dedicate a member of staff to handle the Enquiries.
Alternatively we carry out the conversions and sell the cases to you at £80 + VAT. We work to a standard set of fees with the average net fee income to the solicitors being between £250 & £300 per case for Freehold transactions.
Do you refer Property Searches to a third party firm ? If you would prefer to keep that revenue, and profit, inhouse you might be interested in looking at a Legal Brokers franchise.
Intitially we could work with yourselves and provide searches whilst you get to know us....
Looking at things from a different perspective maybe you have staff members who'd like the idea of running their own Searches business alongside your Conveyancing department...
Alternatively if the company Principal decides to sell the Practice, at any point, keeping the Searches Revenue within the "group" will make the purchase all the more attractive to a potential buyer.
On a final note if you're looking to buy or sell a Law firm please let us know.
For more details either call me on 0845 603 0708 or email via firstname.lastname@example.org .
Regards & RSVP
Legal Brokers Ltd
Tel; 0845 603 0708