Listing ID: 79257
Well-established Family Law practice for sale with about 30-40 active cases (75% family, 25% criminal defense, and real estate contracts) and a database of hundreds of satisfied clients. This is an ideal situation for the newly graduated or relocating law professional. The seller is willing to provide financing with 50% down and transition a qualified purchaser for 6-months at no additional expense. There is 1 well-versed F/T Bi-lingual paralegal and a fully operational office located in the exclusive city of Wellington, Florida. Reason for sale: Seller is relocating out of state. Please refer to listing number 0101921386, business broker Tom Milana 561-702-6867 when inquiring about this listing.
- Asking Price: $149,000
- Cash Flow: $95,250
- Gross Revenue: $195,000
- EBITDA: N/A
- FF&E: $6,500
- Inventory: N/A
- Inventory Included: N/A
- Established: 2013
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:200
- Lot Size:N/A
- Total Number of Employees:1
- Furniture, Fixtures and Equipment:N/A
Lease/Month: 600 Square Footage: 200 Building Type: Professional Ofc Terms & Options: Year to Year Lease Expiration Date: 10/1/2022
Weeks Training: 24 Cost: $0
Seller Relocating Out of State
Non Compete : Miles: 75 Years: 36
The business was founded in 2013, making the business 9 years old.
The business has 1 employees and is situated in a building with estimated square footage of 200 sq ft.
The property is leased by the business for $600 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell businesses. However, the genuine factor vs the one they tell you may be 2 completely different things. For instance, they might claim "I have a lot of other responsibilities" or "I am retiring". For many sellers, these reasons stand. But, for some, these may simply be reasons to attempt to hide the reality of transforming demographics, increased competitors, recent reduction in earnings, or a range of other factors. This is why it is really essential that you not rely completely on a vendor's word, yet rather, make use of the vendor's response in conjunction with your overall due diligence. This will paint a more reasonable picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Lots of companies borrow money with the purpose of covering things such as inventory, payroll, accounts payable, so on and so forth. Remember that occasionally this can imply that profit margins are too small. Many businesses fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may also be future obligations to consider. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that need to be satisfied or may lead to charges if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do operating businesses in the location attract new consumers? Often times, businesses have repeat consumers, which form the core of their everyday revenues. Certain elements such as new competitors sprouting up around the location, road construction, and employee turn over can affect repeat consumers as well as adversely affect future incomes. One important point to think about is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business regularly, the higher the possibility to build a returning client base. A last idea is the basic area demographics. Is the business placed in a largely inhabited city, or is it situated on the edge of town? How might the neighborhood median family earnings effect future income potential?