Professional Services Firm Gunnercooke Reports 23% Rise in Revenues and Welcomes Over 150 New Fee Earners
Professional services firm gunnercooke is cementing its position as the one of the UK’s fastest growing law firms after revenues increased 23 per cent to £59.2 million during the latest financial year (FYE December 31 2022).
Founded in 2010, gunnercooke’s innovative model enables ambitious professionals to establish, run and scale their own independent practices, directly linking fee income to earnings and providing complete control over their client relationships and career.
This alternative structure underpins the business’ sustained success, with the firm delivering a 30 per cent CAGR (compound annual growth rate) in revenue over the last three years.
gunnercooke also attracted over 150 new fee earners in 2022, a 39 per cent increase on the previous year, bringing the business’ total headcount to 618.
The firm is now projecting revenues of around £70 million for the current financial year (FYE December 31 2023).
gunnercooke has a 30,000-strong client base and supports a diverse range of businesses including Google, DHL, John Lewis, Lidl, ASOS and Santander.
In a rare move for a corporate law firm, the business uses the highly regarded Net Promoter Score (NPS) to measure client satisfaction and loyalty.
In 2022 gunnercooke’s NPS score rose to +91, well ahead of the average for consultancies (51) and close to that of multi-national consumer brands like Tesla (97).
The latest financial year also saw the business continue to expand its service and geographical footprints, establishing a new legal technology arm and moving into the US and Central and Eastern Europe markets.
Darryl Cooke, Founder of gunnercooke, said: “I’m proud that we continue to attract highly talented, entrepreneurial professionals who want to innovate and grow their practice outside the confines of traditional structures and cultures.
“Clients benefit hugely from the independence, commerciality and creativity this brings to relationships, which is reflected in our revenue growth and outstanding NPS scores.
“We have big plans to build on this success, but at our core we will always remain a purpose-driven business focused on delivering positive impact for our clients, people and the world around us.”
gunnercooke now has 12 offices globally and provides full-service legal support spanning 39 disciplines.
The latest financial year saw significant growth in the business’ Finance and Real Estate teams, with the number of Partners in the teams growing by 81% and 32% respectively.
It also saw gunnercooke become home to the biggest FinTech, crypto and blockchain full-service practice in Europe and further growth in its boutique consultancy arm, which provides specialist services into areas such as football, private equity, manufacturing, ESG and high net wealth philanthropy.
The firm recently launched gcCrescendo, a subscription-based membership community that helps founders of purpose-led start-ups and SMEs grow their business by providing access to advisory resources, coaching and mentoring.
Sarah Goulbourne, Co-Founder of gunnercooke, said: “High-performing talent and their clients are increasingly recognising that traditional professional service business models are failing to best serve their interests.
“Our structure is proving popular as it allows for more dynamic, resilient and fair relationships that create better outcomes for all. The next generation of leading lawyers want more control, flexibility and the ability to build a practice that reflects their talent and values.
“gunnercooke has such a special collaborative and supportive culture and we’re all excited about continuing to build the team and make an impact across even more sectors, disciplines and international territories.”
Last year also saw key developments in the firm’s charitable arm, the gunnercooke foundation, which focuses on active philanthropy and leveraging business expertise and contacts to help third sector organisations grow and increase their impact on society.
The foundation has now helped over 100 organisations by providing access to strategic guidance, information, education, support and 1-2-1 mentorship from entrepreneurs and experienced business professionals.
In December 2022 it launched its first independent bookshop, cafe and event space ‘House of Books and Friends’ in Manchester.
This initiative is aiming to create a network of community interest companies designed to encourage social interaction, raise awareness of the issue of loneliness and generate profits that can support other organisations committed to tackling social isolation.