So what exactly is a franchise and why is it such a potentially lucrative type of legal business? Franchises are businesses where the franchisee buys the rights to the logo, name and business model of an existing established business. The benefit to the franchisee is that they don’t have to invest the time and money into establishing their own business.
For the company selling the franchises, it is a way of extending their reach even further and making more money via both the initial fees and the ongoing royalty payments made by franchisees. And since most companies that opt to sell franchises have trusted names and easily recognizable logos, it can be a quick and easy way for franchisees to set themselves up in business. The best franchises in any field will operate the same way and the law is no exception.
The idea of a legal business that operates as a franchise may seem odd, but when you consider today’s complex economic landscape, it really makes a lot of sense. There are a lot of people out there who don’t make a tremendous amount of money so the expense of hiring a traditional attorney can be overwhelming.
Being able to walk into a storefront business and get top quality legal services makes it possible for people like this to get the legal advice and representation they need without spending a fortune. Just as walk-in medical facilities have begun to replace the notion of the family doctor in recent years, the best franchises in the legal field have begun opening up legal services to a wider range of customers.
For young lawyers who are trying to establish themselves or looking to start their own legal business, this can be the way to go. A law franchise can provide services in any number of areas, from divorce to immigration to estate planning. It can allow customers to get advice or have legal documents drawn up or hire an attorney to represent them in court.
Like any of the best franchises, with this type of business, the onus of hanging out your shingle and establishing a reputation is not on the lawyer him/herself. But once you’ve gotten enough practical experience under your belt by working this way, then you may find it easier to go out on your own and start a more traditional type of law firm.
If you’re looking to make a name for yourself in the legal field, buying a franchise may be your key to success. You’ll want to look into the possibilities that exist for legal franchising and decide whether this is the best option for you. With a proven name behind you, you just might find yourself on the road to being a successful attorney.
The author of this blog is not an attorney and the information contained in these blogs should not be considered legal advice. The information provided here is based on the experience of the author and some of her clients whose actual names are not mentioned. Do not hesitate to seek the advice of an attorney if you have any legal questions.
