Buying a law practice can be a wise move for a solo attorney or the owner of a small firm looking to expand their practice. At the same time, buying can be intimidating: most attorneys who want to buy an existing practice have never done so before and don’t know where to start.

How do you find a firm to buy that’s right for your needs? How do you determine the firm’s value? How do you structure the sale?

You don’t have to answer these questions alone. With more than 15 years of experience helping attorneys buy and sell their practices, attorney Roy Ginsburg can guide you through the purchasing process.

Why Should You Buy a Law Practice?

Retiring attorneys have spent years building successful practices. From building a solid reputation to marketing their services, they’ve built a foundation from which you can now benefit. Buying a law firm that is up and running means you have work to do immediately, a full book of business, and the goodwill generated by the attorney who carefully built the practice.

Get the Help You Need to Buy with Confidence

Attorney coach Roy Ginsburg has over 40 years of law practice experience and over 15 years of experience as a consultant helping other attorneys sell and buy law practices. That background gives Roy a unique understanding of the nuances of valuing a law firm. With Roy’s help, you can:

Ensure that you pay a fair price. Overpaying for a law firm is easy. Many attorneys pull the asking price for their firm out of thin air based on what they believe their firm to be worth and nothing more. Roy has experience with law firm purchases to ensure the price you pay is reasonable and based on facts, and he will help you negotiate the deal.

Determine the best way to finance your purchase. You may be able to choose from various financing options that won’t break the bank. Roy can help you explore your options in detail so that you can make sound financing decisions.

Avoid making a bad buying decision. You know what they say—some of the best deals you do are the ones you don’t. Just because a deal looks good on paper doesn’t mean it’s right for you. Roy will help you evaluate whether to proceed, based on your future goals, financing options, and other factors.

Roy Ginsburg is here to help you succeed even after you purchase your new firm. As a strategic advisor and coach, he can guide you through marketing, billing, firm management, and other details critical to success in your new practice. And when the time comes for you to transition out of practice, he can help with that, too.

Want to Buy a Law Firm? Reach Out to Roy Today.

Don’t just sign on the dotted line for any law firm on the market. Buying a practice is one thing you shouldn’t DIY. Invest in experienced advice to avoid making an expensive mistake you’ll regret later.

To learn more about buying a law practice, call Roy at 612-524-5837 or connect online.

The Process of Buying a Law Practice

Purchasing law firm is a journey, and like all successful ventures, the process unfolds better with foresight and planning. Here are the steps:

• Identifying Potential Sellers: This first step in the buying process involves looking at various practices and determining which aligns with your firm’s goals. Roy will help you assess the market, analyze practice areas, and identify law firms that offer a strategic fit.
• Reaching Out to Potential Firms: Reaching out to law firms in which you are interested requires tact and confidentiality. Building trust and rapport is crucial, setting the foundation for smooth negotiations and a successful transition. Roy’s guidance ensures professionalism throughout this process, helping you make informed decisions while respecting the seller’s legacy.
• Due Diligence: A thorough due diligence is crucial once you’ve identified a practice you want to buy. This includes reviewing financial statements, client lists, employee records, and the firm’s legal compliance. Roy’s expertise ensures that no stone is left unturned, giving you a clear picture of what you are buying.
• Negotiating the Purchase: Negotiating the terms of a law firm purchase is a complex undertaking—especially if you, like most buyers, have never done it before. Roy facilitates negotiations to ensure that terms related to price, payment plans, and transitional arrangements are favorable to you.
• Transition and Integration: After the purchase, integrating the new practice with your existing operations is vital for continuity and success. Roy provides ongoing support to manage the transition smoothly, advising on best practices for integrating staff, systems, and client relations.

Buy with Confidence. Buy with Roy.

“I initially hired Roy to assess buying a practice. His "wake-up call" advice was real, pragmatic, affordable, and beneficial. Absent Roy’s advice, I would have spent a quarter million dollars in excess of what the practice was actually worth.”

– Solo practitioner, Irvine, CA

Buying a law practice is a turning point in your career. Done right, it can propel your professional growth and provide immediate resources. With Roy Ginsburg’s expert guidance, you can confidently navigate this process and jumpstart your growth and success. Call Roy today at 612-524-5837 to take the first step towards acquiring a thriving law practice, or connect online.