Listing ID: 69918
This highly profitable law firm is for any law professional seeking a law practice that specializes in representing healthcare professionals. Since its inception, this law firm has built a national presence and is the law firm for healthcare professionals. This practice has a well-managed website and has very high SEO on sites like Google, Yahoo, and Bing. This law practice also has a growing FB presence as well.
- Asking Price: $1,490,000
- Cash Flow: $350,000
- Gross Revenue: $890,000
- EBITDA: N/A
- FF&E: $50,000
- Inventory: N/A
- Inventory Included: Yes
- Established: 1999
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:1,650
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
This is a commercially zoned facility that blends into this very robust residential and commercially zoned popular section of town. The office blends in with the residences (this is a positive because the clients want to keep a low profile when they visit; due to the fact that they are medical professionals)
Seller will support a successful transition
Seller is pursuing other interests
This business is uniquely positioned to offer representation to medical professionals. These clients pay well, and they pay on time because these services are far too important for continued participation in their lucrative careers.
The opportunity to expand by adding additional lawyers, increasing advertising budgets can help a new owner grow the top and bottom lines quickly. An additional focus on broadening the marketing approach to include FB ads, email campaigns, and other great social media methods will also boost revenues and fuel growth.
The company was started in 1999, making the business 23 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons why individuals resolve to sell operating businesses. However, the true factor and the one they tell you might be 2 absolutely different things. For instance, they might say "I have way too many other obligations" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may just be reasons to try to conceal the reality of changing demographics, increased competitors, current decrease in incomes, or an array of other reasons. This is why it is very vital that you not depend completely on a vendor's word, but rather, make use of the vendor's response together with your overall due diligence. This will paint an extra sensible image of the business's current situation.
Existing Debts and Future Obligations
If the existing entity is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your offer. Numerous operating businesses take out loans with the purpose of covering items such as stock, payroll, accounts payable, and so on. Keep in mind that occasionally this can suggest that profit margins are too small. Many organisations come under a revolving door of taking loans as a way to pay back other loans. Along with debts, there may additionally be future commitments to think about. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing contracts with suppliers that need to be satisfied or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in brand-new clients? Many times, businesses have repeat consumers, which form the core of their daily revenues. Certain factors such as brand-new competition growing up around the location, road building, and personnel turnover can influence repeat consumers and negatively impact future profits. One vital thing to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Obviously, the more people that see the business often, the greater the possibility to develop a returning consumer base. A final idea is the general area demographics. Is the business placed in a densely populated city, or is it situated on the outskirts of town? How might the regional average household income influence future revenue potential?