How to Leverage the Value of a Trial Lawyer Firm’s Case Inventory for Growth
Founder of Senior Attorney Match
EVP & Head of Corporate Development at Esquire Bank
As consumers have migrated online throughout the pandemic, digitally savvy law firms who were able to pivot and service these consumers have enjoyed growing intakes and better client retention. This has, in turn, accelerated trending consolidation in the legal industry.
Many smaller firms, who were unable or unwilling to invest in their digital presence and marketing efforts, are now prime targets for acquisition, and Senior Attorneys in trial lawyer firms who have built up impressive case inventories are especially attractive.
There is real value in a trial lawyer firm’s open case inventory, and this value can drive a firm’s growth strategy in two ways. First, the firm can take on financing to invest in growth. If the firm is looking to grow through financing, a lender such as Esquire Bank will use this case inventory value to determine the firm’s credit worthiness and the size of the credit facility it can extend. Lenders who use this method of valuation to determine credit facility size can often extend more credit than those that don’t. However, not all lenders use this valuation method, which is a unique, case-cost financing solution and approach successfully utilized by Esquire Bank.
Second, if the firm decides they would rather merge with a more digitally savvy firm for growth instead of building this capability in-house, the firm’s case inventory value can attract deep-pocketed partners. Whether seeking financing solutions to invest in growth or seeking potential law firm buyers, knowing the value of your firm’s case inventory is an important asset.
Watch the 3-minute video to understand the importance of a trial lawyer firm’s case inventory from Jeremy Poock — Founder of Senior Attorney Match — as he shares his knowledge on law firm valuation, informed by his experience consulting with law firms on growth.
Meet with Esquire Bank
Learn how your law firm can leverage case cost financing to free up capital that can be invested in marketing, technology, talent, operations, case acquisition, and scaling law firm growth. Schedule a no-obligation consultation with an Esquire Bank Business Development Officer today at a time convenient to your schedule.
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