Do you want to start a law firm without being a lawyer? Or you need a sample law firm business plan template? If YES, then i advice you read on.
If you look around you, you would find that there will always be a need for a lawyer. Some Landlords prefer to hand over their real estate businesses to be managed by attorneys, while other people just wouldn’t stop at nothing to see that they seek justice at the right quarters.
Hence, you probably might have known by now the fact that non-lawyers are not permitted to own a law firm due to some obvious reasons. Nonetheless, countries like Australia and some Common wealth Nations still allow non-lawyers to own law firms. States like the Washington DC in the United States of America also have a law that allows a non-lawyer to only own shares not exceeding 25% in law firm.
If as a non lawyer it has been your uttermost desire to own a law firm; you just might be too eager to know how to kick start one. Also, if the country or state you intend starting your law firm is among those that permit people like you to own a law firm, then the procedures in this read, are to be followed to get your law firm up and running. Here are top tips to get you started in the right direction:
Starting a Law Firm Without Being a Lawyer – Sample Business Plan Template
1. Know the Laws That Exists In Your Country-: If you must start up a law firm, you must first know the law that exists in the country or state as the case maybe where you intend starting out. With adequate information through research, you are able to arm yourself with sufficient knowledge about the business you are about to venture into. Read books, ask veterans who have walked this path before you, as well as browse the internet for very vital information to keep you on the go.
2. Seek Legal Partners-: As a non-lawyer who wants to dabble into the legal business, one of the first steps you must take would be to seek partnership with lawyers. In starting up a Law firm, it is very expedient to have core professional lawyers to be part of the ownership of the firm. This is especially because such people would be able to bring past experiences in the legal profession to bear.
3. Choose a Name for Your Company-: No business could possibly exist professionally without a name. Coming up with a business name thus becomes very necessary especially if you are hoping to deal with companies and organizations in the near future. In getting a business name, ensure you have done a thorough research on law firm business names, so that you too can take a cue with the aim of arriving at something pretty unique as well as easy to remember.
4. Define Your Niche-: There are various specializations in law; there is the Maritime law, Criminal Law, Industrial Law, civil law and a host of others. It is your duty to choose which of the areas you intend dabbling into. You might also need to do a thorough research in this line or seek advice from your partners. You do not want to start out confused ? It therefore pays to carve a niche in a good area. Here is a sample law firm business plan template to help you get started.
5. Choose a Location-: Choosing a location for your business is as important as the name you give your business. Having done your feasibility studies, you should be able to identify the areas where businesses such as a law firm thrive. It will do your business no good when you are located where your law firm can’t be visible to prospective clients. It might be expensive to secure an office space in the high brow business districts, but such investments will always be worth the while.
6. Register Your Company-: Now that you probably have a name for your business, it is time to do a proper documentation of it. Your business cum law firm can’t be a legal entity until it is registered. Every country has their own requirements for registering companies. Therefore, you must ensure that you meet the requirements by getting all the certification needed. Follow all the due process to get your company registered by going about it through another lawyer or visiting any corporate affairs office in your country.
7. Get an Office Facility-: Although you can start a law firm from your house like some folks do, it is always advisable to separate business of this nature from your house. Running a law firm means that you will meet with all type of people; this includes ‘the good, the bad and the ugly’. So if you don’t intend to expose your family to possible threat and danger, then you must get an Office facility. Truth is that people will take you seriously when you own an ideal office befitting of the nature of business you are involved in.
8. Furnish and Equip Your Office-: Depending on your financial strength, there are basic equipment and furniture that are required in an ideal law firm. Chairs and Tables. Book Shelves, Cabins, Computers, Standard Library, Telephones, Photocopier, and Fax Machine, amongst others must be in place. You do not want to come by as shabby when you start out. Take note that the aphorism that says ‘what is worth doing is worth doing well.’ applies here.
9. Hire Competent Hands-: As a non-lawyer going into law business, it means that you might have some form of restriction on your level of involvement in the day to day running of the business. Therefore, you are compelled to hire highly competent professionals that you can trust and depend on. As a matter of fact it will take an experienced lawyer to be part of the recruitment when hiring lawyers if you truly want the best.
There you have it. Do not forget that in addition to all these steps you must always be abreast with happenings in the law profession and market the hell out of your law firm. Nobody wants to deal with a law firm that wouldn’t be able to represent them well.
Everyone wants a law firm that can stick out its neck come what may. In conclusion, I want you to take all the cues you have read and be sure to start your own law firm on the very right footing. Also, it is important that you don’t forget to conduct feasibility study and write a business plan for your proposed law firm.