Have you found your ideal successor, either in an insider who wants to buy you out or in an outside firm you can sell to? If you have, it is now time to start purchase conversations.
But if you’re like most law firm owners, you’re uncertain about where to begin. How do you talk about your firm’s value? What number do you start with? If you start too high, you may scare your successor away. Start too low, and you run the risk of giving your law practice away.
So where do you begin? You do what corporate America does; you hire an appraiser.
Roy Ginsburg, an attorney and accomplished attorney coach and consultant, is here to arm you with a law firm practice valuation supported by expert analysis. Roy’s years of experience and insight into the marketplace will give you the confidence you need to enter negotiations with your successor.
Valuations are not about multiples. The reality is the marketplace for buying and selling law practices is too immature to trust any multiple.
What you should trust is an appraisal by a professional who can understand the unique characteristics of your practice and your clients. Someone who has practiced law for more than 35 years and has consulted with attorneys for more than a decade.
Roy’s law practice appraisals are designed to be easily understood and contain no bean-counter mumbo jumbo. He uses a step-by-step analysis and explains each step along the way. The result is a logical and straightforward report on which you can confidently rely on your negotiations to sell your law practice.