If you are considering setting up your own law firm then you are going to need to ensure that you have mapped out everything in fine detail before you even begin. The preparation is so vital in this pursuit that it is more than worth your while to invest a great deal of time into the planning stages. I have been a Los Angeles car accident attorney for some years now, and throughout that time I have watched many try and fail to launch their own firm, all because they didn’t invest enough time in the planning stage. If you are considering this as an option, here are the type of things you need to be thinking about.
The importance of the location of a law firm is far less than say, an electronics shop, but it is still something which requires the right decision. You may not be looking for footfall but neither are you looking for an office which is tin the back of beyond, and hard for clients to find. Trying to seek office space outside of the high street and busy areas to keep rent down, but close enough for it to be accessible for staff and clients.
Don’t forget that you will need a federal employer ID number, and you may also require permits from the state authorities, don’t overlook these details as without them you will have no business.
Another key aspect of setting up a law firm is to decide which your company’s specialization will be. Of course there are mega firms out there who have lawyers that practice a number of different branches of the law, but a smaller firm will have to keep the services offered to a minimum. The choice will come down to what your own specialization is, plus whatever is the branch of law which most people need help with.
Hiring staff could cause a problem for you when you are getting set up, in terms of the lawyers rather than admin staff. The reason for this is that the best new lawyers are almost always snapped up by the big firms, and those who aren’t, may not be good enough. You will have to take a risk on some professionals, but if it pays off you could really put your firm on the map.
The office is going to need to have plenty of equipment inside it, so you also need to be considering the layout and the space, and how you will properly furnish it.
It should go without saying that you need to make sure that you have the correct funding in place as setting up a business like this can prove very costly.
Finally you need to think of a name for your legal firm, many people like to use surnames, but you could also look to name your company something else, which better describes the experiences you hope to give to your clients.