Property Insurance Claims Law Firm

Not Disclosed, NA

Southern New England

Asking Price: Annual Revenue:
$1,100,000 $1,610,000

Services: Professional

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RE: Property Insurance Claims Law Firm Broker: Jeff Swiggett

Quick Facts

Asking Price: $1,100,000
Annual Revenue: $1,610,000
Net Profit: Not Disclosed
Cash Flow: $364,000
Total Debt: Not Disclosed
FF&E: $20,000
Real Estate: Not Disclosed
Year Established: 1990
Employees: 9
BBN Listing #: 574055237
Broker Reference #: 41980265

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Business Overview:

Founded in 1990, this Southern New England based law firm primarily represents owners of commercial and residential real estate that are seeking claim settlements with property insurance providers. Approximately, 70% of the firm’s revenues are derived from fees generated through practicing this type of law. The rest is derived from a combination of personal injury, family practice and corporate law work. Most property insurance and personal injury litigation cases are taken on a contingent basis and the balance on an hourly fee basis. The backlog of potential recoverable fees from 35 on-going cases stands at $2.2 million. The firm has four active attorneys and five support staff. It is entirely owned by one of the attorneys. This acquisition is an excellent opportunity for any law firm seeking to expand their property insurance claims practice or enter into this area of the law. For any firm whose practice carries a high volume of injury case work, this acquisition would enable them to attract new clients and gain experienced attorneys.

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Property Features and Assets:

Firm offices are located in a 4,000 square feet building owned by the seller. Seller would be willing to lease the space at a fair market tripple net lease of $6,000 per month.

Market Competition and Expansion:

The firm competes with regional and national firms in their area of the property claims law. However, the firm has a strong reputation and is the leading local group that provides the kind of legal counsel for property claims. Any firm that has a practice centered around personal injury cases would benefit from the synergies derived from combining with a practice that pursues property claims resolution. Doing so would help the acquiring firm build all elements of their practice.

Reason for Selling:

Owner wishes to devote less time to the practice o

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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