Legal-Bay, an active member of the lawsuit funding industry, will be looking at further cash investment in their DePuy ASR Hip Replacement cases through their most recently acquired credit facility worth $2.5 MM.
The company’s Managing Director, Mr. Chris Janish, discusses more about this good news in this recent e-interview with Lead411:
Who are your competitors and how are you different from them?
Oasis Legal Funding and Peachtree Funding are our competitors. We are different from them because we offer the best customer service, the quickest turnaround, better value for your case, and in most cases better rates/fees.
What percentage of your marketing budget are spent on the following?
A. Advertising – 40%
B. Social Media Marketing – 10%
C. SEO – 20%
D. PR – 20%
E. Direct Marketing
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
Our best returns are on P.R. and SEO where our ROI’s are typically 400%, though on lower volume.
What do you plan to spend your new funding on? Product development? Marketing?
We plan to use our capital to primarily invest in Lawsuits involving the DePuy Hip Recall. Our company has ample cash flow to handle our marketing budgets.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?
Typically as a CEO, I try to focus 80% on keeping the business sound and less than 20% -usually after hours- on raising capital to grow the business. You can allocate too much time on “raising money” and the next thing you know you have destroyed the fundamentals of your business. And then no one wants to “fund” you. However, clearly there are two parts to a growing business: the operations and capital raising. Both are important, but you can’t lose sight on staying cash flow positive at all times.
If you are the CEO, what are your biggest challenges?
In this environment, as CEO, you need to focus on cash flow. Remaining profitable every single month is what is the paramount challenge. If you can do that, good things will come from. Growing a business is never a problem if your operational cash flow is there.
How many employees do you have?
We currently have 5 employees and numerous independent consultants.
When were you founded?
We were founded in NJ and have a west coast presence in AZ, as well.
How much did you revenue increase(if any) this year over last year?
Our revenue has increased by 25% the last year, and we are on track to continue to grow revenue at a minimum of 25% for the next 3 years.
Want to learn more about their recent funding? You can read through their press release here.