It’s common for dentists or doctors to sell their practices but far less common for lawyers to do so. And a Zillow-like marketplace for law practices? Forget about it. And yet, that’s just what Tom Lenfestey is doing. Tom has built his business, The Law Practice Exchange, to increase liquidity in a market for law practices and evangelize the buying and selling of law practices as a legitimate option for the development, growth, and conclusion of a lawyer’s professional efforts. Tom has some valuable tips to prepare your practice for sale, how to get the most out of a sale, how to find a buyer, and much more.
In addition, we at Gravity Legal are pleased to announce that we’ve partnered with Tom and The Law Practice Exchange to help lawyers take the first step toward realizing the promise of selling a law practice: valuation. Read more about and get access to our simple law practice valuation calculator here.