The Selling Process

Deciding on your selling plan for your firm is one of the most important decisions you may face. Which sales structure, what price and to which buyer all should be considered to make sure it is a success for you, your firm and your clients. Let us help you through the right process steps.

IT STARTS WITH YOU

If you or your law firm are looking for your retirement, sale, succession or other planning options the first place we start in our process is…with you. The individual attorney-owner’s needs, goals, desired timeline and other aspects will drive our process to make sure we can make those achievable at the end.

Some things to consider early when considering getting started in selling a practice or law firm:

  • How long do you want to work?
  • Who would be an ideal successor-buyer?
  • How long will it take to transition your clients and referrals?
  • What financial needs do you have for retirement?
  • Is price, the buyer or something else the most important factor for you in selling?
  • Imagine what a successful sale looks like for you, your firm, your clients and your team.

The Law Practice Exchange will work with you to help answer these and other questions or planning goals from the start to keep focus on making sure success is achieved at the end.

 

Need help in determining a price or valuing your law firm? Click here.

HOW LPE HELPS

The Law Practice Exchange’s goal is to be your guide through the selling process. For most, this is the only time you will sell a law firm. There is emotion, there are questions and there are ups and downs. We are here to help you through all of those in order to achieve your end goals of sale. Our goal is to help guide you forward, to be a resource and to provide outside resources you may need and ultimately to help you choose the best successor-buyer match for you or your firm.

Some of these items we will provide are:

  • Maintaining Confidentiality Throughout
  • Goal Setting & Needs Analysis
  • Initial Firm Financial & Operational Discovery
  • Law Firm Valuation, Pricing and Payment Terms
  • Comprehensive Marketing Materials
  • Confidential Promotion of Your Opportunity to Our Database and Beyond
  • Negotiations Between You and Buyer
  • Working With Buyers on Offer Terms, Funding Needed and Others
  • Process and Timing Accountability to Keep Things Moving as Desired
  • Templates, Checklists and Other Guides for Each Step of Process
  • Trusted Outside Resources Needed (Banking, CPA, Consultants, etc)
  • Transition Plan Development

OUR SELLING PROCESS

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