Half a million over five years for good firm 50 year firm name.
| "'"'"'" | 10/08/24 | | ,,,,.....,,,,...,........,,,.....,,...,... | 10/08/24 | | "'"'"'" | 10/08/24 | | Fresh Mango | 10/08/24 | | "'"'"'" | 10/08/24 | | "'"'"'" | 10/08/24 | | Self-serious Macbook Airplane Girl | 10/08/24 | | "'"'"'" | 10/08/24 | | shane falco | 10/08/24 | | .........,,.,.,.,.,,,,,,.,.,.,.,.,. | 10/08/24 | | mens gaya | 10/08/24 | | "'"'"'" | 10/08/24 | | ..................,.....,.,,.,..... | 10/08/24 | | "'"'"'" | 10/08/24 | | ..................,.....,.,,.,..... | 10/08/24 | | "'"'"'" | 10/08/24 | | ..................,.....,.,,.,..... | 10/08/24 | | "'"'"'" | 10/08/24 | | hank_scorpio | 10/08/24 | | "'"'"'" | 10/08/24 | | hank_scorpio | 10/08/24 | | "'"'"'" | 10/08/24 | | disco fries | 10/08/24 | | "'"'"'" | 10/08/24 | | 1.618 | 10/08/24 | | "'"'"'" | 10/08/24 | | 1.618 | 10/08/24 | | "'"'"'" | 10/08/24 | | 1.618 | 10/08/24 | | "'"'"'" | 10/08/24 | | When I grow up I want to be a pumo | 10/09/24 | | "'"'"'" | 10/09/24 | | Helene | 10/09/24 | | .- .-. . .-. . .--. - .. .-.. . | 10/09/24 | | Karlstack (reticulated) | 10/10/24 | | Live Free or Die. | 10/09/24 | | "'"'"'" | 10/09/24 | | When I grow up I want to be a pumo | 10/10/24 | | 180 Missiles | 10/09/24 | | "'"'"'" | 10/09/24 | | 180 Missiles | 10/09/24 | | "'"'"'" | 10/09/24 | | how was this moniker available | 10/09/24 | | "'"'"'" | 10/09/24 | | ceci n'est pas un avocat | 10/09/24 | | Judas Jones | 10/09/24 | | piv | 10/09/24 | | how was this moniker available | 10/09/24 | | t14 | 10/09/24 | | ceci n'est pas un avocat | 10/10/24 | | snoot | 10/10/24 | | the walter white of this generation (walt jr.) | 10/10/24 |
Poast new message in this thread
Date: October 8th, 2024 7:26 PM
Author: ,,,,.....,,,,...,........,,,.....,,...,...
50 year what?
$100k per year?
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48178413) |
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Date: October 8th, 2024 7:28 PM Author: "'"'"'"
Good question
$2 milllion real money paid back from cases. 500k for the name etc. two
Dozen appellate decisions w our firm name
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48178423) |
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Date: October 8th, 2024 7:45 PM
Author: .........,,.,.,.,.,,,,,,.,.,.,.,.,. ( )
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48178494) |
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Date: October 8th, 2024 10:39 PM Author: "'"'"'"
Partner stays on w salary for a few years. Worth it under any circumstance.
25% of new business is nieces and cousins of former old school clients looking for retired partners.
Really old retired partner is on dozens of appellate decisions and changed local law about how state senators could continue cases at will based on “legislative privilege” lol
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48179243) |
Date: October 8th, 2024 10:36 PM Author: 1.618
Guy I worked for wanted to sell me his firm for 1m. I declined, we negotiated, his final offer was a little over 500k. I strongly considered it, the firm had a good rep. Decided it was too expensive, started my own firm for about 50k, took 3 years before we matched the old firm's revenue. Saved myself 450k.
A law form is only worth what’s in the hopper. I hope to sell my firm some day for maybe 100k unless some total idiot demands to pay me more.
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48179232) |
Date: October 9th, 2024 6:10 AM Author: When I grow up I want to be a pumo
OP, beware of looking at only the best case scenario. And beware of looking at some middle tier outcome as the worst case scenario. The worst case scenario in buying a small business is that you walk away with nothing, which is actually less than nothing because you owe debts that you took out to buy or operate the business.
Sellers of small businesses take on massive levels of situational dishonesty. This guy might be a nice person, even an upstanding citizen. But when it comes to a once in a lifetime transaction, for what is a lot of money to him, he may become a different person. He could lie about what's going on in the business, fabricate data, steal assets both before and after closing, all kinds of crazy stuff. I've seen it many times.
Buying a business can be great, but it can also be terrible. You have to be extremely aggressive about protecting your interests and paranoid about all the ways you could get screwed.
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48179938) |
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Date: October 10th, 2024 6:06 AM Author: When I grow up I want to be a pumo
In all fairness to OP, a PI firm is more like a normal business than most law firms. You have non-attorney staff doing most of the work, and it's not as easy for them to leave as a lawyer. You have some kind of infrastructure to create a pipeline like advertising, billboards, SEO/web presence, etc. There's an actual business to buy into, whereas most traditional law firm partnerships are more like professional associations of solos at their core.
That being said OP, huge chance of getting screwed here if you're not careful. Like I said above, be paranoid about how the seller might take advantage of you. Try to get the better end of the deal. And don't be afraid to walk away.
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48183213) |
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Date: October 9th, 2024 10:21 AM Author: "'"'"'"
Yes we've studied revenue projections. The only bad year was covid. A bad year is about a Million after everything, which, would mean only $250K on my 25 percent share.
But we are stacked with good cases for next year (2025) and there's no reason to think we can't continue stacking good cases if we hustle on getting those trial dates and work the cases up quickly. A good year is $3 Million and a positively Great Year is $4 Million. Also, I like the infrastructure and hopefully we can keep most of our good paralegals, who are essential to a PI firm.
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48180234)
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Date: October 9th, 2024 11:31 AM Author: piv
Bryan Cave
Kelley Drye
Ropes Gray
Honor them
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48180408) |
Date: October 9th, 2024 2:56 PM Author: t14
Always found it odd that you can just buy an old attorney's name for marketing when they don't practice anymore.
Like there must be some non-negligible % of people who think Johnny Cochran is their attorney
(http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2\u0026mark_id=5310893",#48181231) |
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