Everything You Need to Know about Buying and Selling Law Firms with Tom Lenfestey - Part 1
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!
Episode Highlights
[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
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
About Tom Lenfestey
In his role as the Founder & CEO of The Law Practice Exchange, Tom’s goal is to guide lawyers through the next chapter of their legal career, whether that’s succession planning, exit planning, or strategic growth through law firm acquisition. As a respected leader in law firm sales, Tom has guided The Law Practice Exchange to be the leading marketplace and expert team specializing in aiding attorneys and law firms in buying and selling law firms through continuation, exit and succession strategies. Its mission is to provide education and essential services to facilitate seamless law firm sales and acquisitions and lawyer transition planning.
Connect with Tom Lenfestey on his YouTube. You can also follow him on Facebook, LinkedIn and Twitter.
Enjoyed this Episode?
If you did, be sure to subscribe and share it with your friends!
Post a review and share it! If you enjoyed tuning in, then leave us a review. You can also share this with your friends and family so that they can gain more insights about starting and expanding their respective careers. Not getting enough sleep is bad for your business, so get your deep and dream sleep phases in!
Have any questions? You can contact me through Facebook and LinkedIn. To request a show topic, recommend a guest, or ask a question for the show, please send an email to [email protected].
For more episode updates, click subscribe in the upper right-hand corner. You may also tune in on Apple Podcasts and subscribe to our Youtube channel.
Stay connected with news and updates!
Author
Moshe Amsel
Author
Moshe Amsel the host of the Profit with Law podcast is not an attorney. As the owner of a successful accounting firm DreamBuilder Financial and Law Firm Growth coaching organization Profit with Law, Moshe has proven that there are better and different ways for a law firm to do business and be successful.
