The legal industry is undergoing a seismic shift, and Arizona is at the forefront. Thanks to groundbreaking rule changes, nonlawyers can now own law firms, and private capital is pouring into the legal market. Newly formed Arizona-based legal entities can now acquire law firms around the country, and if you’re a law firm owner, this could be your chance to cash in. Phillips Law Group can help you figure out how you can capitalize on the new Arizona rules for lawyers.
Why Arizona Rule Changes Matter
Previously in Arizona, nonlawyers were barred from having an economic interest in law firms. Now, private equity and other investors are able to aggressively acquire law practices at premium valuations. Some firms are receiving lucrative offers based on their revenue streams, client bases, and growth potential.
With nonlawyers now able to buy established practices, this is the time to explore a sale. Even small to mid-sized firms are attracting great offers, and you may be able to sell your firm for top dollar.
Other Ways You Can Capitalize on Changes to the Arizona Rules for Lawyers
If you’re not ready to sell, you should consider bringing in outside capital to expand your firm’s reach, technology, or marketing.
Relocation or restructuring may also be the answer for your practice. Arizona’s rules allow for innovative business models. If your state hasn’t adopted similar reforms, you may still be able to unlock new opportunities for restructuring or looking into capital funds that are acquiring law firms around the country.
How Much Is Your Law Firm Worth?
Valuations depend on factors like revenue and profit margins, since a steady cash flow increases value. Additionally, high-demand specialties (PI, immigration, corporate law) may command higher prices.
Finally, recurring clients or contingency cases add long-term value. Having a strong client base is a huge selling point.
If you’re curious about your firm’s worth or want to explore acquisition opportunities, get in touch with us today to speak with a lawyer consultant. The market is hot, and the best deals won’t last forever.
Don’t miss your chance to capitalize on this legal revolution. Act now before the competition does. Call 602-222-2222 to discuss how you can capitalize on the new Arizona rules for lawyers.
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