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Started By
Message
So you wanna be a personal injury lawyer?
Posted on 4/1/25 at 10:56 am
Posted on 4/1/25 at 10:56 am
Your mug on billboards all over the state.
Campy TV ads during sporting events.
Yachts, private resorts, the whole nine yards.
Hold a prestigious spot on all the 100 Most Hated People in the State lists.
Well, OT ballers, here's your shot: Austin area personal injury law firm for sale on BizBuySell.com
I'd hope there's no one here who would buy this, but I thought the financial details revealed were worthy of some OT discussion:
On just shy of $14M annual revenue, the owner is raking in $2.6M. Yeah, I know, poverty wages for most of the OT.
They work on contingency only, taking 33% of total settlements in standard cases and up to 45% in complex litigation.
"With an active docket of approximately 200 cases at any given time, this firm averages 7-10 new cases per month"
FYI, I am not connected financially or personally in any way to the owner, broker, or broker's company.
Campy TV ads during sporting events.
Yachts, private resorts, the whole nine yards.
Hold a prestigious spot on all the 100 Most Hated People in the State lists.
Well, OT ballers, here's your shot: Austin area personal injury law firm for sale on BizBuySell.com
I'd hope there's no one here who would buy this, but I thought the financial details revealed were worthy of some OT discussion:
On just shy of $14M annual revenue, the owner is raking in $2.6M. Yeah, I know, poverty wages for most of the OT.
They work on contingency only, taking 33% of total settlements in standard cases and up to 45% in complex litigation.
"With an active docket of approximately 200 cases at any given time, this firm averages 7-10 new cases per month"
FYI, I am not connected financially or personally in any way to the owner, broker, or broker's company.
11
Posted on 4/1/25 at 10:58 am to TigerHornII
I have a suspicion this isn’t a well oiled machine and partners can just bail.
Posted on 4/1/25 at 10:58 am to TigerHornII
quote:
the owner is raking in $2.6M
I'll pass this on to my yard guy, he says he he's looking for a side hustle
Posted on 4/1/25 at 11:00 am to TigerHornII
Strange posting because only an attorney can buy a law firm, and any attorney with $7M to spend already has a very profitable law firm. So I'm not sure who the potential buyer is here.
I wonder why he doesn't work a deal out with his current associates to let them take over slowly in exchange for a gradual buyout.
I wonder why he doesn't work a deal out with his current associates to let them take over slowly in exchange for a gradual buyout.
Posted on 4/1/25 at 11:01 am to TigerHornII
quote:
Your mug on billboards all over the state.
Campy TV ads during sporting events.
Yachts, private resorts, the whole nine yards.
Hold a prestigious spot on all the 100 Most Hated People in the State lists.
This probably makes up about 0.5% of the lawyers in the state...
This post was edited on 4/1/25 at 11:40 am
Posted on 4/1/25 at 11:10 am to Hangover Haven
quote:
This probably makes up about 0.5% of the lawyers in the state...
Yep. And even that estimate seems high.
Posted on 4/1/25 at 11:10 am to Cold Cous Cous
quote:
Strange posting because only an attorney can buy a law firm, and any attorney with $7M to spend already has a very profitable law firm. So I'm not sure who the potential buyer is here.
I wonder why he doesn't work a deal out with his current associates to let them take over slowly in exchange for a gradual buyout.
While I agree with all you're saying here, there are a surprising number of law firms out there kicking the tires on selling.
Posted on 4/1/25 at 11:13 am to Cold Cous Cous
In some states the laws have changed and non attorney can own a law firm.
Posted on 4/1/25 at 11:14 am to Cold Cous Cous
quote:
only an attorney can buy a law firm
has to be a law/rule pushed by attorneys, doesn't make sense
Posted on 4/1/25 at 11:14 am to TigerHornII
Average salary for a personal injury lawyer is about $118K. Of course the upper limit is all but limitless but the bottom limit is also almost unlimited debt.....
Posted on 4/1/25 at 11:22 am to Hangover Haven
quote:
quote:
Your mug on billboards all over the state.
Campy TV ads during sporting events.
Yachts, private resorts, the whole nine yards.
Hold a prestigious spot on all the 100 Most Hated People in the State lists.
This probably makes up about 0.5% of the lawyers in the state...
Not many more than .5% can afford a billboard ad....if they could they would be spending the money.
I have a very good friend who I have known since I was a kid...he is 35 years older than me at 94. He has been a practicing attorney my entire life....real estate and family mostly but some limited criminal cases and the occasional personal injury case. He has also taught at a local college in Atlanta for about 50 years. I remember when I was a kid and lawyers were allowed to advertise he was adamant that it was a horrible idea and no lawyer should participate. My dad asked him why he was so adamant about it....I mean he was pretty pissed about the idea of lawyers advertising. Daddy, knowing him far better than I ever did, knew he wasn't exactly the harbinger of morality when it came to business, asked if he was really that morally opposed to the idea of lawyers advertising and he said no, he wasn't morally opposed to it, he was financially opposed to it....when others started doing it he would have no choice but to follow suit and he was tight with a dollar if he was ever anything LOL. As it turned out he did not advertise much beyond an ad in the yellow pages and some fliers around the courthouse and bail bondsmen offices.....
Posted on 4/1/25 at 11:30 am to TigerHornII
Yeah... i'm not reading that shite
Posted on 4/1/25 at 11:42 am to Dolphinepride
quote:
In some states the laws have changed and non attorney can own a law firm.
WTF? Which ones? I had not heard of this.
Posted on 4/1/25 at 11:52 am to Barrister
quote:
In some states the laws have changed and non attorney can own a law firm.
WTF? Which ones? I had not heard of this.
Why would lawyers limit the pool of potential buyers by excluding anyone or a group of anyone's who wasn't or weren't lawyers? That seems pretty narrow minded. That would be akin to telling a plumber he couldn't sell his business to an electrician.....
Posted on 4/1/25 at 11:54 am to AwgustaDawg
quote:
That would be akin to telling a plumber he couldn't sell his business to an electrician.....
Well, in most states, you have to either be a licensed plumber or have one on staff to buy a plumbing business.
Posted on 4/1/25 at 11:56 am to TigerHornII
Aww yes, a great opportunity to join the worst scum bags in the professional world.
Posted on 4/1/25 at 11:57 am to AwgustaDawg
quote:
Why would lawyers limit the pool of potential buyers by excluding anyone or a group of anyone's who wasn't or weren't lawyers? That seems pretty narrow minded. That would be akin to telling a plumber he couldn't sell his business to an electrician.....
Because lawyer-client relationships are not (theoretically) for sale, and a non-attorney owner should not have control over the legal advice/decisions made by a lawyer and his client. You can disagree with this, and I'm really not interested in arguing about or defending the rule, but this is what the rationale is. As a parallel one might ask whether medical services have improved since we moved from a doctor-ownership model to a large corporation-ownership model. They've certainly become more profitable
As a side note, law firms are an extremely capital light business that have very little in the way of hard assets; it's just personnel costs. So traditionally there was little economic incentive for lawyers to even want to bring in "investors," in the usual sense of the term.
Posted on 4/1/25 at 11:58 am to TigerHornII
quote:
Well, in most states, you have to either be a licensed plumber or have one on staff to buy a plumbing business.
I have a friend that has owned a huge and very profitable electrical contracting company for 45 years, she is neither an electrician nor an electrical engineer, she is however, a very smart businesswoman
Posted on 4/1/25 at 12:01 pm to AwgustaDawg
quote:
Why would lawyers limit the pool of potential buyers by excluding anyone or a group of anyone's who wasn't or weren't lawyers?
Non-lawyer owners could direct the lawyers in ways that harm clients based on their lack of knowledge of the law.
Posted on 4/1/25 at 12:03 pm to TigerHornII
quote:
Well, in most states, you have to either be a licensed plumber or have one on staff to buy a plumbing business.
Is this really the case? It's not bigly surprising, but what is the thinking behind it? As long as I don't do any actual work without a license and only hire licensed professionals? I've toyed with the idea of opening an automotive repair shop down here even though I'm not a mechanic and definitely not licensed. I would just hire a couple certified mechanics and let them handle the repairs while i drum up business for them. I realize auto repair isn't on the same level as plumbing and certainly not law. Do you really have to be a licensed plumber to open a shop of licensed plumbers?
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