We include all our law & accountancy firm sales advice and sale updates here. It includes articles from Ten Percent Legal Recruitment, Ten Percent Financial Recruitment and our blog Legal Recruitment.
- Information to Prepare when Selling a Law Firm – https://www.ten-percent.co.uk/questions-to-ask-yourself-when-preparing-for-the-sale-of-a-law-firm/
- How to Sell a Law Firm – A Guide – https://www.ten-percent.co.uk/how-to-sell-a-small-medium-sized-law-firm-by-jonathan-fagan-ten-percent-legal/
- Valuing Accountancy Practices https://www.tenpercentfinancial.co.uk/how-to-value-accountancy-practices-for-sale/
- My PII has shot up this year – is my law firm worth anything still? November 16, 2021My PII has shot up this year – is my law firm worth anything still? Yes is the quick answer in certain circumstances!
- A Rough Guide to Law Firm Valuations October 26, 2021Valuing law firms is a bit hit and miss. An article with example valuations by Jonathan Fagan, MD of Ten Percent Legal Recruitment and Jonathan Fagan Business Brokers.
- How to buy a solicitors firm for nothing October 26, 2021A guide to purchasing a law firm without spending any money – click the link below for the full article by Jonathan Fagan, MD of Ten Percent Legal Recruitment and ...
- Selling a law firm – whats it worth? October 26, 2021What are law practices worth – an article by Jonathan Fagan, MD of Ten Percent Legal Recruitment and Jonathan Fagan Business Brokers.
- Can you sell a law firm to a non-solicitor? October 26, 2021There is a way of selling a law firm to a non-solicitor buyer and that is with the use of an ABS (Alternative Business Structure). Article by Jonathan Fagan, MD ...
- How to make an offer to buy a law firm October 26, 2021We often see the approach of both sides to each law firm deal. These are our tips for achieving a sale or purchase. If you read no further, the key ...
- Do law firms have a sale value? October 10, 2021I was recently surfing the internet to see what articles are out there on law firm valuations and selling solicitors’ firms and was surprised to find a number of advice ...
- Unrealistic law firm valuations October 5, 2021Pie in the sky solicitors’ firm valuations – a recent experience – an article by Jonathan Fagan, MD of Ten Percent Legal Recruitment and Jonathan Fagan Business Brokers.
- Unique experience of purchasing a law firm October 5, 2021Buying a solicitors firm is not like purchasing any other business of any kind. Dealing with solicitors is a unique experience and very often involves factors that some buyers simply ...
- Closing down your law firm? Think carefully.. October 4, 2021Think carefully before closing down your law firm – most solicitors’ firms have a value to them. An article by Jonathan Fagan, MD of Ten Percent Legal Recruitment and Jonathan ...
- Preparing accurate accounts to sell your law firm October 2, 2021An article discussing the importance of maintaining and preparing accurate end of year and ongoing accounts if you are planning to sell a law firm. Article by Jonathan Fagan, MD ...
- Neutral Meeting Venues for Law Firm Sale Discussions October 2, 2021A discussion of the merits of a neutral meeting venue for first meetings between buyers and sellers of law firms by Jonathan Fagan, MD of Ten Percent Legal Recruitment and ...
Yes we do. Whether you use our brokerage services or not, we can provide buyers (and sellers) with due diligence services.
Sellers can use our service to put everything in place ready for a sale and go through due diligence at the outset so any problems or issues can be addressed.
Buyers can use the service to save time and effort arranging for due diligence to be dealt with.
All services are provided by an experienced professional with former experience at finance director level of a leading regional law firm.
Contact us to request a quote.
Yes we do – all formal valuations are carried out by a former finance director from a leading regional law firm, together with input from Jonathan Fagan to give details of recent applicable deals by way of comparison.
We can provide a very rough outline of a valuation over the phone without charge – just arrange a time to speak to Jonathan Fagan – we are always happy to give an opinion if we can.
Our company also offers a paid formal valuation service to law firms, with a full written report and an explanation of all figures.
Please contact us for further details.
Owners of law firms and accountancy practices can be assured that any data sent to Jonathan Fagan is kept highly confidential. We never release any information about your business without your express consent in every circumstance and we do not divulge any detail to third parties.
All buyers and sellers sign a non-disclosure agreement at the start of the process and we renew these with potential buyers every 12 months.
In relation to IT & data security we adhere to the Cyber Essential principles and also ISO 27001. Our sister companies Ten-Percent.co.uk Limited and TP Transcriptions Limited are Cyber Essential and ISO 27001 accredited respectively.
We are registered with the Information Commissioner’s Office as data controllers.
Our IT system is constantly updated and our servers are protected by a high spec Sophos firewall. Our website is protected by Sucuri.
Jonathan Fagan is part of the Ten Percent Group of websites, which include legal & financial recruitment services. All details regarding law firms & accountancy practices for sale and their owners are kept completely separate on a different system.
We have a list of questions to ask yourself when you are preparing to sell your law firm: https://www.ten-percent.co.uk/questions-to-ask-yourself-when-preparing-for-the-sale-of-a-law-firm/
We offer very straightforward fees.
Sellers pay no fees.
Buyers pay a fixed fee, agreed at the outset, if a deal occurs. No deal, no fee.
And that’s it.
Our buyer fees tend to range from around £5k plus VAT up to £10k plus VAT, depending on the size of the firm for sale and the perceived complexity and involvement for us in any deal. We never change the fee once it has been agreed at the outset, even if the deal takes months to conclude.
Sellers pay no fees to list their firm for sale and we do not charge any fees to assist with negotiations, discussions, advice on strategy, verbal valuations or provide information.
Buyers pay nothing to access our information services online, assistance with negotiations, strategy advice, discussions and anything else we can assist with. We do of course charge a fee if a deal takes place (or you recruit staff from the target firm).
We provide formal law firm valuations and law firm & accountancy practice due diligence services separately from our broker service. Search the menu above for details.
Sales Procedure – a Rough Outline
A very rough outline of the procedure is as follows:
- All parties sign confidentiality undertakings.
- We agree terms with the buyer.
- The buyer is provided with information about the practice for sale.
- The parties meet or speak about plans and proposals. Proposals can be as varied as the partners of the selling firm joining the buyer’s practice or the selling partners accepting a lump sum in cash to exit the business.
- A ‘heads of terms’ (also known as a HoT) is drafted and agreed. This sets out a timetable for the acquisition and specifies who does what and when. It is rarely legally binding – just an outline of the intentions of both parties.
- A deal is reached and completion takes place. The buyer pays us an introduction fee – this varies according to the sale/purchase in question.
As coincidence has it, we have a guide to selling a law firm available right here – no charge! If you have any questions about any of the advice or content, please contact us.
JonathanFagan.co.uk is a specialist business broker service and part of the Ten-Percent group of Legal & Financial Recruitment websites based in the UK. We assist with national and international legal jobs for lawyers and legal staff as well as accountants and finance professionals. Throughout our trading history we have been involved in sales and mergers of law & accountancy firms. Jonathan Fagan is Managing Director of Ten-Percent.co.uk Limited and undertakes all sales and mergers work on behalf of our company. and this is our specialist broker website.
For law firm recruitment please visit the main Ten Percent Legal Recruitment website for permanent roles and Interim Lawyers for locum roles. For accountancy firm recruitment please visit the Ten Percent Financial Recruitment website.
Jonathan Fagan is a trading name of TP Recruitment Limited, a privately owned company.
Who is Jonathan Fagan?
Jonathan Fagan LLM FIRP Cert RP is a qualified solicitor and Managing Director of TP Recruitment Limited. He studied law at Leicester University and Frankfurt University before completing his training with a specialist practice in Leicester. On qualification he worked for a Chambers-listed solicitors’ firm in Nottingham before founding Ten Percent Legal Recruitment, Interim Lawyers and Ten Percent Financial Recruitment in 2000. Jonathan set up the Ten-Percent Foundation in 2003, a charitable trust linked to the trading companies and handling the 10% charitable donations we make every year (hence our name).
Jonathan personally handles all business sales and purchases. We have a database of over 300 registered buyers and we send out regular updates to over 8,000 law firms via our recruitment network. Our companies have worked with over 2,500 law firms and accountancy firms since April 2000.
Jonathan is editor of the Legal Recruitment News, and Accountancy Recruitment News, both monthly newsletter updates for Employers and Candidates in law and accountancy. He is the author of The Guide to Writing a Legal CV, Interview Answers for Lawyers and the Interview Guide for Lawyers (available at our bookshop) and has lectured in the past at Huddersfield University on CV Preparation, Interview Practice and Legal Careers for LPC students. You can read his award-winning Legal Recruitment blog here, which contains advice on interview questions, recruitment tips for firms and candidates, as well as commentary on the legal job market. You can also read his regularly updated Ten Percent Article Bank here.
Articles & Updates from Ten Percent Legal
- Buying a solicitors firm is not like purchasing any other business of any kind. Dealing with solicitors is a unique experience and very often involves factors that some buyers simply fail to appreciate. The post Buying a Law Firm – a Unique Experience appeared first on Ten Percent Legal Recruitment.
- New Solicitors Looking for Jobs and Law Firms for Sale 7th October 2021 from Ten Percent Legal Recruitment. The post New Solicitors Looking for Jobs and Law Firms for Sale 7th October 2021 appeared first on Ten Percent Legal Recruitment.
- New Law Firms for Sale x 5 London, Buckinghamshire, NW Wales and East Anglia – Law Firms For Sale Update 2nd August 2021. The post New Law Firms for Sale x 5 London, Buckinghamshire, NW Wales and East Anglia appeared first on Ten Percent Legal Recruitment.
- Is it Possible to Sell a Law Firm to a Non-Solicitor Buyer? An article by Jonathan Fagan, MD of Ten Percent Legal Recruitment. The post Is it Possible to Sell a Law Firm to a Non-Solicitor Buyer? appeared first on Ten Percent Legal Recruitment.
- Law Firm Sale Alert 14th July 2021 Solicitors in Hertfordshire, ABS shell, Central London Solicitors and HR & Employment Law Consultancywww.jonathanfagan.co.uk – Law Firm Sale Alert 14th July 2021 Solicitors in Hertfordshire, ABS shell, Central London Solicitors and HR & Employment Law Consultancy The post Law Firm Sale Alert 14th July 2021 Solicitors in Hertfordshire, ABS shell, Central London Solicitors and HR & Employment Law Consultancy appeared first on Ten Percent Legal Recruitment.
- Law Firm Sale Alert 21st June 2021 – ABS Manchester, LAA Crime Contract London, Law Firms in Staffordshire, Surrey and West MidlandsLaw Firm Sale Alert 21st June 2021 – ABS Manchester, LAA Crime Contract London, Law Firms in Staffordshire, Surrey and West Midlands. The post Law Firm Sale Alert 21st June 2021 – ABS Manchester, LAA Crime Contract London, Law Firms in Staffordshire, Surrey and West Midlands appeared first on Ten Percent Legal Recruitment.
- If you are reading online that your law firm is worthless and you should give it away, have a look at who has written the article… The post Law Firms Have No Sale Value appeared first on Ten Percent Legal Recruitment.
- How to Make an Offer to Buy a Law Firm that is going to get accepted. An article by Jonathan Fagan, MD Ten Percent Legal Recruitment. The post How to Make an Offer to Buy a Law Firm appeared first on Ten Percent Legal Recruitment.
- There have been a flurry of interested partners of law firms looking to sell up and we get a lot of calls into our offices asking what the practice is worth. Article by Jonathan Fagan The post Selling a Law Firm – What’s it Worth? appeared first on Ten Percent Legal Recruitment.
- Law Firms for Sale Alert 23rd March 2021. 5 listings – London Self-Sufficient Team, Sussex, South Coast, HertfordshireLaw Firms for Sale Alert 23rd March 2021. 5 listings – London Self-Sufficient Team, Sussex, South Coast, Hertfordshire. New listings from Jonathan Fagan. The post Law Firms for Sale Alert 23rd March 2021. 5 listings – London Self-Sufficient Team, Sussex, South Coast, Hertfordshire appeared first on Ten Percent Legal Recruitment.