Criminal Defense Law Firm - Legal Services
NCListing DetailsOffice ID: LAW1
Listing Broker: Jeff Snell, M&AMI, CBI, ABI
Listing Price: $1,850,000
Gross Revenue: $1,931,906
Cash Flow: $580,024
FF&E Included: Yes
Real Estate: $1,575,000
Sales Structure: Asset Sale
Seller Financing: Yes
Financing/Terms:This business has been preapproved by our SBA loan packager. Buyer must be able to fund 15%-25% of the total transaction value at closing with non-borrowed funds.
Reason for Sale:Seller has other business interests.
Training:Seller will provide transition support and will work with buyer to determine acceptable client transition post transaction up to 1-2 year consulting agreement to conclude pending litigation.
OperationsYear Established: 2007
Form of Ownership: LLC
Employees (full-time): 7
Employees (part-time): 1
Employees (contractors): 1
Business Hours: m-f 8-7; sat 9-5
Business Description:The business provides legal representation for criminal defendants throughout North Carolina. The majority of fees are prepaid resulting in well below industry average write downs. The Client engagement process is managed online and is currently limited to North Carolina cases. As a result, case load volume should not be adversely impacted post transaction. Over the past seven years the firm has served approximately 3,300 clients with charges ranging from DUI to capital murder. The sale includes a portfolio of legal related domains including one for soliciting federal criminal cases. Currently, the firm reviews approximately 600 potential case files per month. Approximately 25% result in an attorney conference call with 30% of those ultimately resulting in ~35 new cases per month.
Owner Qualifications:Buyer must be licensed by the state of North Carolina to practice law.
Competition:The Business Reference Guide rates law firms 1 of 4 indicating that there are many competitors. This firm differentiates itself in the way that clients are engaged which is not dependent upon referrals or key lawyers reputations.
Potential Growth:The proprietary marketing model which is fulfilled by a third party vendor with a dedicated support team for North Carolina can be replicated in any state. The model can be ramped up or down as the utilization of existing attorneys requires and as new attorneys are added.
LocationType of Location: Stand Alone
Real Estate for Sale: Yes
Real Estate: $1,575,000
Monthly Rent: $5,800
Square Footage: 8100
Facilities:The firm operates from two commercial locations in North Carolina. Both have common ownership with the firm and are available for purchase. One property is an 1100 ft.² condo. It is walking distance to the federal courthouse and less than a 10 minute drive to the state courthouse. The rent is ~$1850 per month. The asking price is $275,000. This unit has a many amenities in the building, including three conference rooms, a gym and a concierge who can assist with personal errands. The other property is a ~7000 ft.² stand alone building. The rent is ~$3900 per month. The asking price is $1,300,000. Approximately 50% of the building is sublet. The real estate info presented in the summary section combines both locations size, rent and asking prices. The commercial property asking price is not included in the asking price for the business.
Last Updated: Dec 18, 2017 / 11:53 AM
Financial Information Current As Of: Sep 8, 2014 / 1:57 PM