The sales process for law firms

By Altius Group

09 Apr 2021

solicitors.jpg

If you are currently considering the sale of your law firm, it is important to fully understand your market exit avenues prior to any decisive decision making. No matter the reason for the sale, whether you are lining up for retirement or require additional capital for your next business venture, it always pays to be well-informed before embarking on a sale.

For many law firm owners, time is held at a considerable premium with many individuals upholding an active involvement in the day-to-day operations of their practice, in addition to providing the business with direction and identifying new growth opportunities. As such, the time requirements necessary to obtain an intricate understanding of the sales process is often an unfeasible feat. 

Therefore, it is highly recommended when seeking a market sale to instruct the assistance of a specialised business broker who will work on your behalf to ensure a smooth and prompt completion. On the back of 30 years’ experience, Kings Professional can offer a proven sales process that garners a wide range of interest across the legal sector and ensures the complex transfer of ownership reaches its completion.

Before placing your law firm on the market, you will undertake a market appraisal, where you will be provided with an accurate and achievable price point for your practice. A realistic asking price for your business requires greater nuance than simply totalling the saleable value of your assets or reviewing your annual turnover figures. To truly grasp the value of a law firm, an in-depth market analysis must be conducted to understand the factors that constitute a high value target in the eyes of an acquirer, followed by the unique selling points and specialities of your practice.

Once you are satisfied with the potential returns from your Company and have decided to instruct a business broker to conduct the sale, the marketing process will commence. It is the role of your broker to not only get your business seen by as many potential buyers as possible, but to actively identify individuals and operators with acquisition requirements that match your practice’s specifications. At Kings Professional, our marketing team will create a bespoke range of marketing materials for distribution to a list of identified interested parties, as well as casting the widest possible net to ensure an overview of your business is seen by a range of potential buyers.

After you have received an offer which you wish to pursue, your business broker will take on the role as intermediary between yourself and the potential buyer throughout the due diligence process. We highly recommend appointing an external solicitor over the course of due diligence as they will take an objective stance in the sale of your practice and ensure your best interests are protected; Kings Professional can recommend an experienced solicitor within the acquisition and disposal of legal practices. In this vital stage, the buyer will review and scrutinise every aspect of your business, and your dedicated sales negotiator will be on hand to guide and advise you through to the sales completion. 

If the sale of your law firm is now under contemplation and you would like to seek further guidance, please do not hesitate to get in contact with a member of the experienced Kings Professional team on 01772 775 755 and they will be delighted to assist you.

Latest news

1

College restaurant honoured with top culinary award from prestigious chefs’ guild Karen Lilley Front Of House Lecturer David McKown David Lyon Scholars Manager And Blackburn College Principal Dr Fazal Dad

College restaurant honoured with top culinary award from prestigious chefs’ guild

10 Jun 2025

2

Cosmetic manufacturer lets new unit on Frontier Park, Burnley Badgequo have agreed to let the site on Frontier Park

Cosmetic manufacturer lets new unit on Frontier Park, Burnley

10 Jun 2025

3

SQ Digital celebrates 25 years and enters new era with CEO appointment Kamal Essa

SQ Digital celebrates 25 years and enters new era with CEO appointment

09 Jun 2025

4

New chair appointed to Atlas BFW Management Graham Cowley

New chair appointed to Atlas BFW Management

09 Jun 2025

5

Napthens makes key appointments to further growth strategy of newly appointed managing director Napthens appointments Jayna Mistry, Onyeka-Obedi and Rebecca Rhodes

Napthens makes key appointments to further growth strategy of newly appointed managing director

09 Jun 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking
Sub36 Social1200pxandi Lewis
Networking
11 Jun 2025

Sub36 Networking

Mytton Fold Hotel , Blackburn , BB6 8AB

09:30 - 11:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200pxtrident 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley College Industry Hub, Burnley, BB120AN

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

The Business Network Central & East Lancashire
LBV Hub Networking
12 Jun 2025 - 12 Jun 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Preston Freelancer Meet-Up
LBV Hub Networking
12 Jun 2025 - 12 Jun 2025

Preston Freelancer Meet-Up

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Midnight Oil: The Entrepreneur’s Journey: Scaling Strategies with Brad Waldron
BU-June-Event-BRAD-1.jpg.jpg
LBV Hub Networking
18 Jun 2025 - 18 Jun 2025

Midnight Oil: The Entrepreneur’s Journey: Scaling Strategies with Brad Waldron

Blackpool Football Club, Bloomfield Rd, Seasiders Way, Blackpool, FY1 6JJ

08:30 - 11:30

Chamber Business Lunch – June
Chamber Logo1.png.png
LBV Hub Networking
20 Jun 2025 - 20 Jun 2025

Chamber Business Lunch – June

Lancaster House Hotel, Bailrigg, Lancaster, LA1 4GL

11:00 - 13:30

90 day Business Planning Workshop
LBV Event Header.png.png
LBV Hub Seminars
20 Jun 2025 - 20 Jun 2025

90 day Business Planning Workshop

Bolton Arena, Arena Approach, Horwich, BL6 6LB

09:00 - 16:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin