Everything You Need to Know about Buying and Selling Law Firms with Tom Lenfestey - Part 1 - 447

Profit with Law: Profitable Law Firm Growth

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Shownotes can be found at https://www.profitwithlaw.com/447.

Curious about how acquiring a law firm can accelerate your own law firm's growth?

Join Moshe Amsel and Tom Lenfestey, founder and CEO of the Law Practice Exchange, as Tom describes the benefits and strategies behind buying a law firm. In this episode, Moshe and Tom dive into the topic of law firm acquisitions, highlighting the importance of starting early and understanding what is being bought, from client relationships to established systems. Tom also unpacks the financial nuances of buying a law firm, including valuation, structured terms, and financing options.

Listen now to explore how acquiring a law firm can be the game-changer your practice needs for growth and profitability!

Chapters:

[00:00] Introduction

[05:19] Introduction to Tom Lenfestey

[10:28] Law Firm Growth Strategy: Buying a Firm

[19:30] Brand Recognition - Your Law Firm Name

[22:40] Does the Practice Area Matter?

[31:44] Financial Costs of Acquiring a Law Firm

[42:43] Parting Piece of Advice from Tom

Resources mentioned:

Take the Law Firm Growth Assessment and find out how you rate as a law firm owner!

Check out our Profit with Law YouTube channel!

Learn more about the Profit with Law Elite Coaching Program here

Ep 224 - Replay - Rise of the Digital CEO with James Wedmore

Ep 370 - How to Determine Your Firm’s Value and Sell at a Fair Price with Victoria Collier

Ep 425 - The Key Drivers Behind a Valuable and Marketable Law Firm with Brooke Lively

Built to Sell: Creating a Business That Can Thrive Without You Paperback by John Warrillow

Connect with Tom Lenfestey: YouTube | Facebook | LinkedIn | Twitter

Join our Facebook Community: https://www.facebook.com/groups/lawfirmgrowthsummit/

To request a show topic, recommend a guest or ask a question for the show, please send an email to [e-mail].

Connect with Moshe on:

Facebook - https://www.facebook.com/moshe.amsel

LinkedIn - https://www.linkedin.com/in/mosheamsel/

Capitoli

1. Introduction (00:00:00)

2. Introduction to Tom Lenfestey (00:05:19)

3. Law Firm Growth Strategy: Buying a Firm (00:10:28)

4. Brand Recognition - Your Law Firm Name (00:19:30)

5. Does the Practice Area Matter? (00:22:40)

6. Financial Costs of Acquiring a Law Firm (00:31:44)

7. Parting Piece of Advice from Tom (00:42:43)