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Law Firm Business Plan Template [Updated 2022]

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I. Executive Summary


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name] is a law firm in [insert location here]. The Company primarily focuses on litigation law, but also provides a wide range of legal services as requested by clients. [Company Name]’s legal services range from mergers and acquisitions to product liability, to intellectual property to real estate. Our team of lawyers works with each client to ensure successful outcomes. The Company’s goal is to become one of the leading law firms in the area.

Services

[Company Name] will provide the following legal services to its clients:

  • Arbitration & Mediation
  • Business Formation
  • Business and Commercial Transactions
  • Collections and Credit Matters
  • Commercial Real Estate Law
  • Construction Law
  • Corporate Governance and Compliance
  • Creditor’s Rights
  • Employment Law
  • General Counsel Services
  • Immigration Law
  • Insurance Law
  • Real Estate Consultancy and Advisory Services

Customer Focus

[Company Name] will primarily serve service sector businesses and individual clients within a 20-mile radius of its location. Potential customers in this area include:

  • 1,500 private businesses with annual payroll exceeding $1 million
  • 120,000 individuals

Management Team

[Company Name] is led by [Founder’s name], who has been in the legal industry for [x] years. [Founder’s name] graduated from the University of ABC, where he majored in law. During his apprenticeship in the legal industry, he acquired in-depth skills in practicing law and is well aware of the practices related to the legal industry. Additionally, he worked in a law firm alongside a professional, learning how to manage and run a law firm before starting [Company name].

Success Factors

[Company Name] is qualified to succeed due to the following reasons:

  • There is currently a high demand for legal services within the community. In addition, the company surveyed the local population and received highly positive feedback pointing towards an explicit demand for the services, supporting the business after launch.
  • The Company’s location is in a high-volume traffic area and will thus be highly convenient for a significant number of people visiting nearby.
  • The management team has a track record of success in the legal business.
  • The upscale legal business is a proven business and has succeeded in communities throughout the United States.
  • Market trends such as high disposable income and spending power are propelling the demand for legal services.

Financial Highlights

[Company Name] is currently seeking $170,000 to launch its law firm. Specifically, these funds will be used as follows:

  • Office design/build: $60,000
  • Working capital: $110,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%

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