Should I tell my staff that I am thinking about selling my business?
No, absolutely not. We come across this question very often, and there are a whole host of different arguments for and against informing the staff of your future plans, but the short answer, as well as the long answer, is telling your staff about plans to sell a business is a bad idea, both from […]
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What makes the perfect law firm for sale?
If we could create or put forward the most perfect law firm for sale, it would be one quite similar to a company I recently valued. The Perfect Firm for Sale The law firm had a team of c35-50 staff who had been with the practice for a substantial amount of time (but still mainly […]
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Is a law firm a good investment?
I was asked this question earlier in the week by an investor looking to enter the legal market – do law firms constitute a ‘good’ investment? This question comes up usually from external investors and the person asking the question will usually be expecting to be purchasing a law firm with fully functioning departments, staff […]
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Law firm sales – what should I tell my PII broker?
As little as possible, is the quick answer, with the longer answer appearing below! Call the broker We have had a number of instances where sellers have felt an obligation to notify their insurers about everything to do with the sale of their business. When they have thought about selling, they notified their broker. Each […]
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I’m thinking of selling my law firm, what should I do?
This is our very simple guide for anybody who is contemplating selling their law firm and the steps that they need to think about taking. It is written by Jonathan Fagan LLM of Jonathan Fagan Business Brokers Limited. We have been assisting law firms and accountancy practices on mergers and acquisitions for over 20 years. […]
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Deal or No Deal? You Decide
We have recently heard of quite a novel offer that has been made for the purchase of a law firm, and one that we had not come across before, so we thought we’d share it and see what our readers think! Picture the firm for sale – it is a small sole practitioner based in […]
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How specific should I be about the type of buyer I want for my business?
We often send over details of buyers to sellers to get consent to release information (we never release details of any sellers to any buyers without their specific consent). Sometimes sellers come back to us to say that they don’t want to consider the buyer because of the type of buyer they are, rather than […]
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How not to offer equity to a junior partner or member of staff
We regularly get approached to provide valuation reports and advice to law firms and other businesses on offering equity stakes to members of staff or junior partners or salaried partners. Here is our guide on how not to offer equity. Decide your practice is worth considerably more than it is, and indicate a figure based […]
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What is my law firm worth?
We often get contacted by partners and managers of solicitor practices in the UK, wanting to know what their business is worth. It may be that somebody has approached them to ask them if they want to sell, or it may be that they are looking to retire and one of their colleagues is keen […]
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My PII premium has rocketed and I don’t know what to do – help!
It is that time of year again when firms are getting their insurance premiums through and discovering that their quotes have shot up because of factors around the property market. This means that a number of firms are in the unenviable position of finding themselves without any cover in a week’s time and wondering what […]
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