Salability is an important concept for attorneys who want to exit their firms. So important that “Is my firm salable?” is arguably a more important question than “How much is my firm worth?”
This is where many attorneys go astray. Just because your firm is valuable to you doesn’t mean someone is going to buy it. You need to make sure that your law firm is a salable asset so that another lawyer will feel comfortable taking over the practice.
While value and salability are inextricably linked, there are a number of things that affect salability beyond “getting more clients” or “increasing revenue.” We’ll look at three of these specifically in the video below.
Above all, the best way to ensure that your firm is unsalable is to let yourself get burnt out, start referring out cases, and decrease the value of your firm.
Smart Planning for Your Most Valuable Asset
You’ve worked hard to build your firm—now cash in on the investment! Our guide will explain the sale process and show you how to estimate the value of your firm, how to prepare your firm for sale, and much more.
Set yourself apart from other attorneys. Download our guide and say very loudly, “I want to…
Working with Alexander Abramson
As a successful attorney you should be excited about the potential of selling your firm and increasing your retirement fund. With the right help and the right advisors, you can effect a profitable and successful sale of your law practice with about the same mental and emotional hassle as just closing the doors—it just takes some extra planning!
Regardless of whether you want to sell by the end of the year or in 5 years, the first step on your path to selling your law firm and capitalizing on the investment you’ve made is a Sale Readiness Assessment.
We will help you identify your firm’s strengths and weaknesses and develop a transition strategy that fits your circumstances. Call us today at (407) 649-7777 or email a team member to schedule a Sale Readiness Assessment.
