Lawfirm-Personal Injury Multi Office

Rochester, MI (Oakland County)

Lawfirm-Personal Injury Multi Office
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Asking Price: $33,000,000

Cash Flow: $6,000,000

Gross Revenue: $20,000,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $20 /Month

Established: 2011

Lawfirm-Personal Injury Multi Office

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Business Description

Personal Injury Law Firm Business Summary

This is the Go-To Law firm in Michigan for Personal Injury Litigation with fully staffed Offices in three top statewide markets for PI cases. The Firm has a team of 13 expert Attorneys backed-up by a dedicated support staff of 21.

Since its start, the firm has worked on many of the largest personal injury cases in America, winning over hundreds of Million in both jury verdicts and settlements. The firm has been recognized by legal organizations and publications across the country being named to the 2017 and 2018 “Best Law Firms” list by U.S. News & World Report. These successes have enabled the firm to maintain consistent and upward growth and profitability with an impressive 30% cash flow.

Practice Areas

The firm has developed a repeatable, highly effective, documented marketing process that drives case intakes in high-profit practice areas. These practice areas include:

-Auto Accidents
-Motorcycle Accidents
-Trucking Accidents
-Boating Accidents
-Personal Injury
-Traumatic Brain Injury
-Birth Injury
-Medical Malpractice
-Product Liability
-Premises Liability
-Police Misconduct
-Civil Rights

Client Acquisition and Marketing

The firm has spent substantial financial resources in market research, advertising investment and internal capital to develop, validate and implement a highly repeatable and effective marketing process. Since its founding, the firm has invested an average of 10% of revenue in marketing expenditures. This marketing strategy has enabled the firm to consistently target certain case types, track response rates by each marketing tactic, and forecast a consistent conversion ratio of response to accepted cases. In addition, the firm has tracked financial data by each marketing tactic and has a unique acquisition cost per case type. This proven marketing process has helped the firm experience rapid and continued profitable growth.

Key Investment Highlights

-A recognized leader in its market segment: The Firm is the recognized Go-To leader in its markets and has the winning record to back that claim.

-Established brand name: The Firm has an excellent heritage and is renowned for its reputation for providing high-value legal services and record-breaking jury verdicts.

-Client Base and Referral Partner loyalty: The Firm has hundreds of active cases across a large variety of practice areas. The Firm also has a high level of past client, medical industry and attorney referrals. Currently, approximately 40% of its case backlog is referral business, 60% organic.

-Increasing 2018 case backlog: Record revenue for 2018, plus a forecasted new record for 2019 is in the pipeline.

-Solid financial history: The Firm has maintained financial resiliency has a strong history of profitability and 30% positive cash flow over the long run.

-Strong legal services expertise: The Firm and its attorney team have a notorious trail litigation reputation backed by long records of success. Each Attorney specializes in their respective practice areas and is highly regarded by their peers.

-Experienced management team: The Firm’s team outlined above is supported by a Managing Attorney, accounting department, IT support, marketing and administrative staff.

-Reputation for quality and personal service: The Firm emphasizes strict compliance with exceeding client expectations in communication, settlement/trail process preparation and achieving the best possible financial outcomes.

-Modern & Efficient Offices: All three offices have state of the art office technology, consistent branding, high-quality furnishing, historic artwork and other backroom technology that is well suited for the purposes of the Firm.

Detailed Information

Real Estate:
Leased
Building SF:
15,000
Lease Expiration:
N/A
Employees:
35
Facilities:
The firm has three offices located in key demographic markets in Michigan. Each of the offices is staffed by full-time Attorneys, Paralegals, and Legal Assistants. Each office is professionally designed for the business of law and exquisitely appointed with premium furniture with the best office and IT equipment available on the market. In addition, the three offices are identically branded and have similar office finishes to present a professional common brand image to clients.
Competition:
The Firm is an excellent acquisition opportunity for a legal industry investor interested in benefiting in the ownership of a well-known, established law firm with a proven client acquisition process and the back room infrastructure to support continued growth. The firm provides a profitable opportunity for the legal investor to diversify an existing practice or expand its geographic footprint into the lucrative Michigan market with a turn-key Personal Injury practice.
Growth & Expansion:
Go-To PI Law Firm in its markets and has the winning record to back that claim. Excellent heritage and renowned for its reputation for providing record-breaking jury verdicts. The Firm has hundreds of active cases and a high level of past client, medical industry and attorney referrals. Currently, approximately 40% of its case backlog is referral business, 60% organic from marketing. Record revenue for 2018, plus a forecasted new record for 2019 in the pipeline.
Financing:
A small portion may be negotiable.
Support & Training:
The founder is willing to stay on in an Of-Counsel Capacity, or other business capacity to help transition the firm's brand to new ownership.
Reason for Selling:
The owner would like to pursue other business interests and semi-retire.
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