Is it possible to sell a small law firm? Yes. – That’s the good news.
The bad news is that those law firms are not as valuable as, say, tech companies, which sell for significant multiples.
Law firms usually don’t sell for any multiples — most are purchased for 1x the gross annual revenue. That’s because the revenue is generally not “sticky” — but neither are the clients, when the founder walks out the door. Goodwill only goes so far, after all.
But can you increase the value of your law firm, with the right technology and system? You’re darn tootin’!
