Tell Ed what you think of his idea
Goal: To create an online membership based community for the purpose of buying and selling law practices.
You may have heard me talk about the 400,000 lawyers who will be retiring from the practice of law in the next 10 years. When the financial crisis first hit, I began to doubt that we will face so many retirements. But, my phone continues to ring with people wanting to know how to sell their practice, how to value it (a requirement before selling) and then how to transition into the "second season" of their life.
Members can either list law practices for sale or contact other members selling law practices. You will be able to list and see:
- Area(s) of law practice
- Number of lawyers
- Number of staff
- Revenue
- State
- City
Members interested in buying one or more law practices could then contact sellers through a form. The data would be sent to the seller and then it is the seller's responsibility to follow up on the lead. Members would not be able to see the names of the practices for sale. Anonymity is retained between members on the site until the seller follows up on the lead with the potential buyer.
I would post articles and other resources, including portions of my books and other materials, for the further education and assistance of the members of this community.
There would also be a moderated discussion board for members giving suggestions and commentary as I think appropriate.
I would be available to help on an individual basis such as reviewing the description of the practice, etc. ... My services in this field such as valuation and consulting to sell a practice would be available but not to be considered as part of the low monthly rate offered to the community ... They would be negotiated separately, though at a reduced fee to any member of the community.
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