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Buying a block of fees

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Hello,

I have a relatively new practice firm in East Midlands area and am looking to buy a block of fees from £10k to £20k. Please pm me if you want to sell a block of fees.

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By Wanderer
08th Jun 2019 14:50

Quote:

Hello,

I have a relatively new practice firm in East Midlands area and am looking to buy a block of fees from £10k to £20k. Please pm me if you want to sell a block of fees.

You've posted as Anonymous, how can anybody PM you?
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Replying to Wanderer:
RLI
By lionofludesch
08th Jun 2019 17:52

[chuckle]

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Replying to Wanderer:
Glenn Martin
By Glenn Martin
09th Jun 2019 12:31

Great response.

If you are looking for £10k of fees dont bother trying to buy them just do some marketing you should get that in a few weeks at a fraction of the cost of buying them.

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Replying to Glennzy:
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By 1 2
10th Jun 2019 09:54

Quote:

If you are looking for £10k of fees dont bother trying to buy them just do some marketing you should get that in a few weeks at a fraction of the cost of buying them.


Hmmm...I remember back to my very early days, getting the first £10k of fees was the hardest! No existing base for referrals, no track record potential clients can research...I found it very tough! I think for those many years down the line where referrals come in week in week out it can be tricky to remember how tough the early days were.

Having said that, I do think £10k-20k would be a tricky sum to purchase, as it is very small. I sympathise with your plight, as 9-10 years ago I would have loved a tiny little base to start from like that, just don't think there'll be many people selling that level of fees. I'd suggest instead just the hard slog of trying to win more clients off your own back. Ie basically what Glenn said, just I imagine it won't be as easy as his post suggests.

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Replying to Maslins:
Glenn Martin
By Glenn Martin
10th Jun 2019 10:33

For me Google or Facebook ads generate a fairly rapid response if set up right.

If he put his money into Google should be producing a new client per week fairly quickly.

If you don't know how to do it, get someone to manage it for you as they don't charge that much

Client referrals take longer but if you have not got any clients you need to start somewhere.

As you say though anyone selling £10k worth of fees are likely to be not the best quality, and are probably the clients he is looking to move on to some unsuspecting new startup.

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