Legal Services

Once you have your law degree, costs for starting a legal consulting firm are cheap. All you need are basic utilities and legal structure, including an LLC (minimum), liability insurance, accounting software, business cards, advertising or direct mail packages, and a website.

Most attorneys had less than $5k in the bank when they started. You’ll need to keep yourself housed and fed. It may take a while for your business to be in a solid position and able to pay you a salary or distribution. You should have some money saved to cover your personal living expenses for the first 3-6 months. Start-up costs vary on a wide range of variables such as location, practice area, advertising, and more.

But to grow your business efficiency you will have to invest much more! Let’s break it up:

Have savings for peace of mind

It takes more than just a business idea to make a success of a new venture. You’ll also need some money put aside to live on for the first few months while your business gets off the ground. This is especially true if you are starting from scratch. You should have at least 3-6 months of living expenses ahead to get yourself and your family back on your feet if necessary.

Start-up costs

Your $5,000 initial investment should be enough to get you off the ground. However, if you are really serious, you should budget $5,000 to $15,000. That amount should get you off the ground and give you a real leg up. It depends on where you are located, what kind of law you are going to focus on, whether or not you choose to use an attorney or another professional to help you, how aggressive you are with marketing, and more.

Office & supplies

As you purchase office supplies, only buy what you need. We’ve all gotten excited about a new space. We always want the best for our business and buy classy chairs, great espresso machines, art, and more. Buying cool office decor can be a great asset for your brand.

You’ll need a computer, back-up drive, document scanner, printer, and a phone. You will also need legal software and online services that you use the most on a daily basis in your practice. All of this can represent a huge amount.