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.
Legal Brokers Ltd
Law Firm Sale & Valuation, Specialists