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Half a million over five years for good firm 50 year firm name.
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Date: October 8th, 2024 7:23 PM Author: "'"'"'" Discuss. Only those who know what they are talking about please (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178402) |
Date: October 8th, 2024 7:26 PM Author: ,,,,.....,,,,...,........,,,.....,,...,... 50 year what?
$100k per year? |
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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 |
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Date: October 8th, 2024 7:30 PM Author: Fresh Mango Same situation in Mango Land not flame (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178430) |
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Date: October 8th, 2024 7:34 PM Author: "'"'"'" Do it. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178442) |
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Date: October 8th, 2024 7:38 PM Author: "'"'"'" 3 to five years easily ending w $3 million retirement minimum. It ain’t great but it ain’t bad either. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178459) |
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Date: October 8th, 2024 7:38 PM Author: Self-serious Macbook Airplane Girl youre buying a law firm? sounds horrible (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178465) |
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Date: October 8th, 2024 7:39 PM Author: "'"'"'" Thanks (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178470) |
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Date: October 8th, 2024 10:20 PM Author: shane falco (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179159) |
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Date: October 8th, 2024 7:45 PM (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178494) |
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Date: October 8th, 2024 7:40 PM Author: RELIGION lol spaceporn (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178473) |
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Date: October 8th, 2024 7:41 PM Author: "'"'"'" Schizophrenic ssd only goes so far (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178479) |
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Date: October 8th, 2024 7:47 PM Author: ..................,.....,.,,.,..... buy buying that little asian boy worked so well! (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178502) |
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Date: October 8th, 2024 7:49 PM Author: "'"'"'" Satan is setting your thermostat right now
Tell him what you want |
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Date: October 8th, 2024 7:51 PM Author: ..................,.....,.,,.,..... we all want sp to leave that boy alone (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178515) |
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Date: October 8th, 2024 7:52 PM Author: "'"'"'" Yeah change that moniker I’m sure it won’t fool Angelic orders (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178523) |
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Date: October 8th, 2024 7:53 PM Author: ..................,.....,.,,.,..... sp only makes 50k/yr anyway (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178526) |
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Date: October 8th, 2024 7:58 PM Author: "'"'"'" Why am I so poor as that? (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178556) |
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Date: October 8th, 2024 7:45 PM Author: hank_scorpio I would expect someone in a position to do this to know very well if they could bank an extra hundred k a year sitting where they are or do exactly as well starting fresh, it really does depend entirely upon that (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178496) |
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Date: October 8th, 2024 7:47 PM Author: "'"'"'" Yeah but I’m gen x follow your bliss idiot (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178500) |
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Date: October 8th, 2024 7:56 PM Author: hank_scorpio then you're a 50 year old at a law firm in a market you really should have figured out by now (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48178547) |
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Date: October 8th, 2024 8:03 PM Author: "'"'"'" Sure but in the end I’m a better lawyer than I have any right to be and will have a comfortable retirement for wife who banked everything on me.
I can’t help my birth position and mileu. All I can do is call the bullshit sooner or later and make the best i can w my own priorities in mind |
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Date: October 8th, 2024 10:29 PM Author: disco fries (28.5 fortnights to Teewinot friends - 355lbs) It is exactly this. The firm name and existing business, good will, etc is worth exactly zero. Keep the owner as a partner emeritus and pay them through the proceeds from existing cases. Do not agree to pay one red cent for the business. You’re a service providing professional and brand is dead. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179206) |
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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 |
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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. |
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Date: October 8th, 2024 10:40 PM Author: "'"'"'" He was asking too much unless he was former state senator with continuing pull in two or three towns with majority of racial minorities. What he was offering was maybe $250k at best. |
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Date: October 8th, 2024 10:48 PM Author: 1.618 He’s still there. Probably trying to sell it to one of his new guys. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179272) |
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Date: October 8th, 2024 10:49 PM Author: "'"'"'" Good for him. Not worth shit now if it’s just him though. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179275) |
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Date: October 8th, 2024 10:52 PM Author: 1.618 Nah he replaced me and another guy with new guys. It’s still a good firm. I’ll be interested to see if one of the new guys takes the bait. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179290) |
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Date: October 8th, 2024 10:54 PM Author: "'"'"'" lol what’s he opening with?
I’m busting my ass to have a good 2025 right now btw |
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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. |
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Date: October 9th, 2024 10:05 AM Author: "'"'"'" (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180206) |
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Date: October 9th, 2024 7:13 AM Author: scary When I was fresh out of law school I worked for a guy who considered buying a famous firm name but instead decided just to start his own firm with almost exactly the same name. Morgin and Morgin is now one of the largest personal injury firms in America. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179970) |
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Date: October 9th, 2024 7:19 AM Author: .- .-. . .-. . .--. - .. .-.. . LMAO (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48179972) |
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Date: October 9th, 2024 10:09 AM Author: Live Free or Die. i do quite a bit of small business sale/purchase work. don't see how it would be worth it to buy a law firm. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180209) |
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Date: October 9th, 2024 10:22 AM Author: "'"'"'" You'd agree every situation is different.
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Date: October 9th, 2024 10:11 AM Author: 180 Missiles Need revenue projections obviously. But you could pay zero and double your own hustle. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180215) |
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Date: October 9th, 2024 10:21 AM Author: "'"'"'" Yes we've gone over 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.
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Date: October 9th, 2024 10:29 AM Author: 180 Missiles lol, ur gonna die (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180248) |
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Date: October 9th, 2024 10:57 AM Author: "'"'"'" Why? People do this every day of the year. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180308) |
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Date: October 9th, 2024 11:15 AM Author: kevin eubanks and the tonight show band please please do this. it is an absolutely terrible idea and will end in disaster but it will be solid gold xo content. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180370) |
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Date: October 9th, 2024 12:18 PM Author: "'"'"'" I'm going to make over half a million in 2025. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180585) |
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Date: October 9th, 2024 11:25 AM Author: ceci n'est pas un avocat You'll get in everywhere you apply (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180384) |
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Date: October 9th, 2024 11:30 AM Author: Judas Jones The only firm names that mean anything are top biglaw firms like Jackson Lewis or Williams O'Connolly (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180406) |
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Date: October 9th, 2024 11:31 AM Author: piv Bryan Cave Kelley Drye Ropes Gray
Honor them |
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Date: October 9th, 2024 11:39 AM Author: kevin eubanks and the tonight show band i’m sure his retard hornhonk clients will be extremely impressed that some silent gen name partner scored an appellate court victory on an arcane point of procedural law in 1987. (http://www.autoadmit.com/thread.php?thread_id=5608712&forum_id=2],#48180425) |
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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 |