Suburban NE Ohio Law Firm Retained Client Base For Sale

Business description

This law firm was founded about 30 years ago and has been operated since then under its current owner, associated attorneys, paralegals and legal staff. The firm has 3 attorneys (including the owner) and one independent contractor (Of Counsel) who also performs trial work in major cases. In addition the firm employs two paralegals and two support/secretarial personnel. The firm's practice has continually grown and, at the present time, is providing legal counsel to small and large businesses, as well as individual clients located in 4 counties in North East Ohio. In addition, the firm has provided legal counsel to a number of manufacturing, transportation and service companies throughout Ohio and contiguous states. While the 2010 revenues of the firm were in the high $700K’s, over the past ten years they averaged in the mid-$900K’s.
================================== Enterprise Development Resources, Inc. is neither a Broker-Dealer nor a registered Investment Adviser. Where applicable, securities transactions are conducted by RWI, LLC, member FINRA, MSRB, and SIPC ====================================== In the event there is any applicable Real Estate Transaction it will be conducted via Pro-Classic Real Estate, Inc.

Property information

Real Estate:

Lease

Lease terms:

Triple Net.

Leasehold rent:

$85,800 per annum

Living accommodation:

Not applicable.

Location:

Well-situated suburban location with on main thoroughfare.

Premises details:

The real estate facility is very suitable for a legal firm with expansion potential.

Size in square feet:

6,500

Business Operation

Expansion potential:

The Firm could enjoy synergies from bringing a partner with a Domestic Relations and/or trial practice focus. This is because the firm would be the obvious choice for such legal service for its long-term customers. In addition increased promotional and business development activities would bring more business. It is worth noting that the Seller would be interested in be involved in business development to promote growth.

Competition / Market:

The legal profession is a competitive business in which reputable firms with long term client relationships and well qualified and experienced staff are bound to be the leaders in their business. This business fits well this description.

Reasons for selling:

Lightening of owner's workload who would like to stay with the firm mostly in a business development capacity.

Trading hours:

8:00 a.m. to 5:30 p.m.

Employees:

8

Years established:

30 +

Franchise terms

Not Applicable

Other information

Support & training:

While the Seller wants to move towards retirement, he would be interested in being involved in business development activities to help growth.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller would prefer a cash deal but would listen to other possible structures.

Relocatable:

This business can be relocated.