Successful Succession And Exit Strategies in Uncertain Times

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This online intensive workshop will equip you with the skills to ensure a smooth and successful transition of your practice from one generation to the next.

The workshop will be delivered as two one hour live stream sessions plus a one-on-one session to strategise your specific circumstances.

 

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Successful Succession And Exit Strategies

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Session One

What Is Your Firm Worth?

Common rules of thumb around law firm valuations are being challenged. Given variances in profitability, areas of law, demographics and cash flow, not all law firms have the same value. We will guide you through the valuation process and how it applies specifically to your firm.

Making Your Firm More Saleable

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There is a subtle difference between value and saleability. Making your practice more attractive to potential purchasers relies heavily on the ease of transferability, or integration, of the practice. We will address the qualitative aspects of legal practice that purchasers and banks look for and what you can do to make them chose your firm over another.

What Options Are Open to You?

With an increasingly aging profession, the next three to five years will see a significant transfer of ownership from one generation to the next. The high number of retirements is creating a ‘buyers market’. We will help you realistically assess the options available and develop a robust plan that best suits your needs.

Session Two

Developing Internal Successors

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In most instances an internal sale is the safest bet. All the traditional views on how to bring in new equity holders have been turned on their head. We will show you how the best solutions are reached.

Options for Equity Transfers

One of the key tactical challenges is to structure the deal so that it is attractive to both parties. There are numerous options available regardless of whether you are a small firm, large firm or incorporated legal practice.

External Purchasers

In addition to large professional aggregators, many firms are looking to boost revenue and profits by consolidating local competitors. We will discuss how to find them and how to present your firm.

Session Three

One on One Advice: at a time that suits you

After the workshop book a time to meet one-on-one with Sam Coupland to discuss your specific circumstances and tailor appropriate succession strategies

WHO SHOULD ATTEND?

Law firm owners and managers who want to explore or implement a robust succession plan.

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Presenters

Sam Coupland

FMRC

Sam’s client facing roles span directconsulting and management training. In anyone year he would be engaged by 50+ firms to assist with strategic planning, partner compensation, equity valuation and succession related issues. With industry experience gained since 1999 and the capacity to draw on the many resources of FMRC, Sam has developed unique insights into the workings of a wide range of firms. Sam is considered the foremost authority on law firm valuations having developed a robust valuation methodology and values more than 20 firms each year. Prior to joining FMRC Sam worked at Ernst & Young for four years followed by a stint in London conducting due diligence on businesses listing on the London Stock Exchange.

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