Summary
A general practice since 1995. 2025 gross YTD fees of $700,946.00, 1 Solicitor full time and 1 part time, 3 support staff. 34% of gross reciepts deceased estates/wills etc., 23% conveyancing.
Revenue
$700,946 pa
Rent
$28,800 pa
Expenses
$479,000 pa
Net Profit
$193,146 pa
Potential
Significant potential to expand business in the areas of Family Law, Deceased Estates, Commercial & Business Law or Personal Injuries. Substantial cost savings if operated as a branch. The firm operates Leap and all client, matter, deed register (2000+ documents) and other data can be transferred to the transferee.
Skills
Must be an Australian Legal Practiioner with a full Victorian practicing certificate authorised to hold trust monies.
Hours
Monday to Friday 9.00 am to 5.00 pm
Lease
3 years to 1/7/2027 and 3 options of 3 years each
Employees
One Solicitor full time, one Solicitor part time, 3 support staff
Reason for Sale
The owner is in his late 60's and seeks to retire.
About the Business
The firm is a general practice that has had a presence in the local area for many years. Over half of the firm's income comes from conveyancing and Deceased Estates/Wills. The remainder of the fim's matters consist primarily of TFM, purchase and sale of businesses, commercial leases, family law and litigation (debt recovery & commercal disputes) matters.
The firm has clients within its immediate local area and also from surrounding suburbs. The firm's client base has a varied demographic including muli-generational local families as well as a variety of those more recently arrived in Australia. The firm also has a number of builder/developer clients for whom it conducts conveyances and subdivisions. The firm shares it's offices with a firm of accountants who also provide a source of recurring referral work.
The firm has an extensive deeds register of titles, wills, powers of attorney etc of over 2000 documents.
The vendor believes that firm has significant potential for future development in the areas of family law, criminal law, commercial/business law and personal injuries if adequately resourced and promoted.
The firm has a 3 year lease to 1/7/2027 with an additonal 3 options of 3 years each, taking tenancy through to 1/7/2036.
History
In the 1960's a sole practitoner opened in the firm's previous location. That practice was sold in the 1970's to 2 partners and the firm operated at its' original location until 1985 when it moved to its' current premises in the same street. In 1995 one of the partners retired and the continuing partner and the vendor (also a local practitoner) merged their practices to form the current firm. In 2019 a partner semi-retired and transferred his share of the practice to the vendor. The founding partner continues to act as a consultant to the firm.
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