Opening a legal service is a promising business option as the service providers offer effective and cost-cutting solutions for the community. Several facets of legal issues are part of the legal service business such as drafting the wills and contracts and carrying out legal research. Knowledge of the professional techniques and legal research are necessary for the experts of these services. Before you set up a law firm in India, you must keep the following options in mind.
● Deciding the name of the firm
This is one of the most important decisions that a firm needs to handle as the clients recognize a firm from its name. Conventionally, the names of the attorneys were used most of the time. The top lawyers in India usually name their firms after themselves. However, the startup has realized that following the naming convention might not appeal to the potential clients. Instead of choosing the name of the attorneys for naming the business, it is better to go with the names related to the area of the practice for the best results.
● Advantages of firm operation
For initiating a law firm in India , you must realize that it is very important you realize the benefits you have with the operation of the firm as it is different to run a business and work as an employee in a legal firm. While captaining your ship, you must be aware of the benefits you can make in the context of finances. You can talk to the fellow lawyers keen to make money. It is necessary to assess the possibilities of starting a legal firm on the basis of partnership. For a legal service provider, it is necessary to get all the office equipment, phone numbers and the basic aspects of running the service. Taking into account the local and the state licensing requirements is necessary as they tend to vary according to the location. You need the following office equipment.
- Printers, software, scanner and computers.
- Machine for photocopying
- Fax machine if you need
- Services and the telephone system
Certainly, you can handle all the tasks on your own and try to cut down the cost by half. However, the idea of spending half of the day and time for paying the bills, and communicating over the telephone seems weird. Once your business starts in full swing, the office and the administrative tasks may become hard to handle and you will probably need people to help you complete those tasks.
● Setting a budget
It is true that setting up business in India is going to be costly at least in the initial phase for getting the office equipment, hiring office space and buying the copying machine. Apart from this, you may need to hire the legal assistants making it easy for the clients to contact with your office and interact with the staff. You may have to pay a high salary to the legal aid as well. However, these expenses will not come in the way of your profits. The best option is to balance the profits and the expenses is to have a nicely-planned budget for accomplishing the business goal.
Significance of location
Even if the significance of the location decreases when you consider the law firm set up, it is still one of the most important considerations for starting a business. Often the lawyers starting a fresh business may decide to work from home to reduce the cost of setting an office. However, the option may not be viable and you may not consider it in the long-term, so it is necessary to focus on the location of the office from the beginning. If you are keen to impress those clients who visit your office, you must pay attention to the location you choose.
Good website is the key
It is hard to overlook the significance of a good website for the legal service you want to start.
- A good web presence speaks a lot about your legal service so you must focus on the areas of your service. You must mention the expertise your lawyers have in different fields of law.
- People today look for information on the website to save time and the chances are that most of you clients will acquire the contact number from the website.
- The website should not only be attractive, but the users must find it easy to navigate through the pages to find the information they need.
Creating a logo
When it comes to legal services for startups, do not forget that a good logo design can put your law practice in the forefront. The logo must appear distinctive when compared with the other legal services operating in your locality. To make a lasting impression on the customers, the color and the elements used for the preparation of the logo must be attractive.
Apart from the above mentioned aspects, there are other factors you need to consider for setting up a legal service.
- You must obtain malpractice insurance in addition to getting and maintaining additional insurance and professional liability.
- You must have a separate trust account and follow the budget as much as you can.
- Determining the type of advertising and marketing you want to use. Using brochures, signage, newsletters, signage and online advertising can help you market the firm.
Checking the referrals
If you want to grow your law firm in India, you must always look for the right opportunity to get new clients. You can contact and network with the colleagues to obtain new clients for your business instead of depending on the existing clients. Opening a law firm can be challenging but it is going to be a rewarding experience when you apply the right tricks.