Building and Selling a Niche Practice

Selling a Niche Practice can be offered as a plenary or as a 60 minute breakout session.

Attorneys invest years of hard work into their practice and upon retirement simply walk away, not even attempting to sell what took a lifetime to build. Over the last few decades, many lawyers have accepted the application of business and marketing principles in the context of a law practice. However, the concept of selling a practice in much the same way that other businesses are sold remains foreign and seemingly unattainable to much of the legal profession. It’s all a matter of adopting a mindset that a law practice is in fact a business with value and then working smart AND hard to maximize that value. This quick paced session is geared to business attorneys advising other practitioners with respect to the sale of a niche practice. Attorneys considering the sale of their own practice will benefit as well.

The following topics will be covered in this session:

• Key Steps to Building a Practice to Sell
• Making a Plan While Making Money
• Assembling a Team
• Finding a Buyer
• Valuation of Practice
• Negotiating Points to Consider
• Pitfalls to Avoid
• Compliance with MRPC 1.17