Growing South King County, Washington Law Practice

Auburn, WA (King County)

Seller Financing Available
Growing South King County, Washington Law Practice

Asking Price:$500,000

Cash Flow:N/A

Gross Revenue:$455,000




Real Estate:$200,000*


*not included in asking price.

Growing South King County, Washington Law Practice

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Business Description

Private Practice Transitions is assisting a client, located in South King County, with the sale of a private practice that employs 3 attorneys. This owner has been in private practice for 34 years, and has been licensed to practice in 3 states. In addition, the owner has also been a licensed CPA for over 30 years, and desires to sell the practice as a turn-key operation in order to retire. The Practice is absolutely thriving: 19% growth year over year, for 2014 and 2015. The practice/case breakdown is approximately 55% Business, 40% Estate Planning and Probate and 5% Real Estate. The Practice is located in an attractive office that is fully furnished: desks, computers, scanner/printer/fax, and other furniture. The office consists of three large offices, a waiting area, large conference room, kitchen area, file room and free parking in the back for attorneys and clients.

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Detailed Information

Real Estate:
Not included in asking price
Building Sq. Ft.:
All furniture will be included in sale price, such as office furniture, phone system, office supplies, printer/scanner/fax, and computers. Buyer also has ability to assume the lease. Buyer will also assume domain and trade names associated with the practice.
While there will always competition in the legal field, my client has been in practice for more than 30 years in the same office and has become a pillar of the community.
Growth & Expansion:
There are many opportunities for short and long term business growth by making very nominal, but beneficial, changes to the Practice as well as increasing online marketing. Currently, the attorneys bill hourly for all legal services. An increase in bill rate by $40/hour could result in as much as a 20% increase in gross income in addition to the 19% increase the practice is experiencing over the last three years! Some other ideas to grow the business include: (a) adding web-based sales; (b) adding chat-talk feature to the website; (c) expanding advertising to include client seminar offerings; (d) expanding portions of the practice which have proven to be relatively easy and makes for reliable income; and (e) joining the local area Chamber of Commerce.
Support & Training:
The lead attorney will agree to mentor, train, and otherwise transition the practice to any properly licensed attorney for a period of time. This can be discussed at more length, but ultimately will be determined by the buyer and how long he/she would like the lead attorney to stay involved.
Reason for Selling:
Looking to retire after over 30 years of practice.

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Justin Farmer

Business Listed By:
Justin Farmer

Private Practice Transitions, Inc.

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