NY/NJ Bankruptcy Practice For Sale
Not Disclosed, NJ Essex County
Seller's Contact Information
- RE: NY/NJ Bankruptcy Practice For Sale
- Contact: Eric Straus
Quick Facts
| Asking Price: | $150,000 | |
| Annual Revenue: | $474,675 | |
| Net Profit: | Not Disclosed | |
| Cash Flow: | $83,477 | |
| Total Debt: | Not Disclosed | |
| FF&E: | 23,450 | |
| Real Estate: | Not Disclosed | |
| Year Established: | 2010 | |
| Employees: | 3 | |
| BBN Listing #: | 787335879 | |
| Broker Reference #: | 6842-204631 |
Business Overview:
11 year old bankruptcy practice licensed in NY and NJ available for sale. Attorney is moving to DC... so must sell this lucrative practice. In addition to $150,000 cash payment, the Seller will expect compensation in the form of an earnout approximating $150,000.The Law Practice began in New York in 2010 and expanded to New Jersey by 2011. They complete work in bankruptcy, consumer work and simple wills and estates. They have filed over 5,000 petitions for Chapter 7 and Chapter 13 in NJ, the Southern District of New York and the Eastern District of New York. While the Law Practice has three direct competitors, it differentiates itself as a Spanish female owned and operated legal practice that provides a kinder personal touch, consumer work, and a great success rate with loan modifications, student loan discharge and pricing matters. The Law Practice foresees growth through the absorption of the legal practices of retiring competitors along with the recent lift of moratoriums on evictions and foreclosures.
7 years at current location. Recently expanded to 2,000 square feet Close to SDNY, EDNY courts, and Newark Federal and State Courts.
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Reason for Selling:
Relocation
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
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