Business Summary:
The purchase of this law firm is an excellent opportunity for an attorney to earn a high income. This law firm specializes in personal injury and other civil litigation which are more recession resistant. It is also starting to expand into lower-level criminal cases. It has little competition in its area and boasts 80% return business each year. The owner’s cash flow has been consistently high for 5 years. The firm concentrates in civil lawsuits and one-sixth of its business comes from ongoing business clients. Its current caseload is about 65 cases.
**NOTE** The practice is offered for $50,000 down, plus an earn out based on revenues. Real estate is offered for sale at $390,000.
BayState Business Brokers http://www.mabusinessbrokers.com
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| Year
Business was Established: 1974 |
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| Number of Employees:
3FT |
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| Facilities / Terms of Lease:
The business works out of the first floor of an office building it owns. They lease out space on other floors. The seller wishes to sell the building with the practice. |
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| Potential
Growth/Expansion:
This firm can expand in three different ways. First, it can take on a wider range of cases. Secondly, it can expand the area it services. Lastly, it could easily market itself more aggressively. The firm is in the process of adding a website to do so. A buyer could increase their income by doing more of the legal work rather than outsourcing it as the principal attorney has done. Some of the work that has been delegated has been because the principal attorney has chosen to take time off. |
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| Competition:
The firm markets itself mostly through word of mouth and referrals. About 80% of clients are repeat clients and 20 percent of its revenues each year come from new clients. Because of its long history -- it has been in business for over 30 years -- the firm is well-known in the community. |
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| Owner
willing to finance:
This can be financed with a combination of seller and SBA financing. |
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| Owner
willing to train:
The owner will stay on for a short transition to help retain current clients. |
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| Reason for selling:
Retirement |
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Seller Reference Number: 1202
BusinessMart.com Listing Number: 65557 |
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