The are some must have items that any attorney needs to start their own law firm. Thankfully the list is short. Each attorney’s list will probably vary. For example, I didn’t include any practice software in my budget. For me it isn’t a must have, but something I can get later down the line. I really tried to limit the list to things you MUST have if you’re going to practice as a successful solo attorney. Here it goes:
1. Phone
This is pretty obvious. Without a phone you can’t communicate with clients and without clients you’re going to starve. I added a business line to my current cell phone plan. It’s around $20, but it gives me a line solely for work and allows me to take calls anywhere. Landlines are cool and fancy, but unless you have a secretary to answer and take your calls, it’s useless. It costs me around $120 month for my current plan and the business plan.
2. Computer
Computer prices vary. Personally I'm a Mac user. A standard 13 inch Macbook Pro starts at $1,199. When you add up all the software and accessories you're probably going to spend around $1,300 easily.
But...
If you have computer (even the old one you used in law school like mine) and it’s still functioning effectively, I say use it. You can save tons of money by using your old computer. I contemplated getting a brand new shiny Macbook for work, but decided against it which will save me $1,200. Later in the year when my cash flow increases, I will think about getting a new computer.
But...
If you have computer (even the old one you used in law school like mine) and it’s still functioning effectively, I say use it. You can save tons of money by using your old computer. I contemplated getting a brand new shiny Macbook for work, but decided against it which will save me $1,200. Later in the year when my cash flow increases, I will think about getting a new computer.
3. Scanner/Printer
Attorneys definitely need a scanner and printer or least easy access to both. The office space that I'm hoping to share with another attorney has both. I recommend getting both a scanner and printer. In my experience the combos don't work as well and tend to malfunction.
Scanner's come in different prices. If you can pay the extra money and get a really good scanner. But if not, get one that will last you until you purchase something fancy. If I had to purchase one, I'd opt for the Fujitsu ScanSnap 1300. It's somewhat pricey compared to others, but has great reviews. It is cheaper than it's fancy cousin the Fujitsu ScanSnap 1500.
Printers like scanner come in different prices and quality. If you're looking for a good and inexpensive printer I recommend the Espon Workforce 645. I've had one for about 6 months now and it's been great. It's easy to setup, never malfunctions and changing cartridges is easy. I use it to print all kinds of documents including tons of court forms so for $100 I think it's a good deal.
4. Office Space
Some attorneys see office space as a requirement while others believe home offices or virtual offices are fine when your beginning your practice. It really depends on whether you have reliable space to meet a client when necessary. If you have a friend who doesn’t mind loaning out his/her conference room whenever you need it, then take it. But if you don’t then the next question is how comfortable are you meeting a client in Starbucks or a public library. I personally see an office as a must have. It provides you with a guaranteed place to meet with clients and you get an office address to use.
I'm looking for shared office space with another attorney where I can pay reduced rent for a small office with another attorney. So far I've come across spaces around $200 to $300 a month which I think is reasonable. My goal is to stay under $300. I'll post an update once I find a space.
5. Fax
Some attorneys see office space as a requirement while others believe home offices or virtual offices are fine when your beginning your practice. It really depends on whether you have reliable space to meet a client when necessary. If you have a friend who doesn’t mind loaning out his/her conference room whenever you need it, then take it. But if you don’t then the next question is how comfortable are you meeting a client in Starbucks or a public library. I personally see an office as a must have. It provides you with a guaranteed place to meet with clients and you get an office address to use.
I'm looking for shared office space with another attorney where I can pay reduced rent for a small office with another attorney. So far I've come across spaces around $200 to $300 a month which I think is reasonable. My goal is to stay under $300. I'll post an update once I find a space.
5. Fax
Access to fax is pretty essential for an attorney. Some days you really will appreciate your client faxing that document instead of dropping it off. It saves everyone time. Luckily, my office space comes with a fax machine. If you don’t have access to a fax machine, I recommend getting an online fax account. From what I’ve seen, you can get an account for a year for around $25.
6. Office Supplies
Paper, pens, folders, highlighters, sticky notes. Whatever you need to work efficiently, buy it. Don’t be that attorney walking from person to person in the hallway courthouse asking for a pen. It’s embarrassing. Spend $20 a month and that should suffice.
7. Practice Materials
If you’re a newly licensed attorney like myself, I recommend buying one or two practice guides on whatever area of law you plan on practicing. Try to get a guide with sample motions, etc that way you have some guidance in drafting documents. I plan on buying California Drunk Driving by Paul Burglin, Barry Simons, and Ed Kuwat. It’s $130 on amazon.com which is pricy, but I think it’s well worth the cost. The guide is known as the DUI Bible in California and that’s all I needed to hear. Spend the extra money and a really comprehensive and helpful practice guide. I think it'll save you some trouble in the long run.
TOTAL
The total cost for my start up expenses plus what it would cost me to run my law firm for 3 months is $3,205. This total based on the products and numbers I used above and assuming the rent for my office space is $300 a month. I'm pretty content with spending $3,205 in initial costs knowing that it will also cover me for 3 months in expenses. I'm hoping 3 months is enough time to find clients and generate income. We shall see!
Coming Soon... Costs of other expenses to start a law firm (Part 2). For now these are the basics of what an attorney needs.
The total cost for my start up expenses plus what it would cost me to run my law firm for 3 months is $3,205. This total based on the products and numbers I used above and assuming the rent for my office space is $300 a month. I'm pretty content with spending $3,205 in initial costs knowing that it will also cover me for 3 months in expenses. I'm hoping 3 months is enough time to find clients and generate income. We shall see!
Great post. Thoughtfully written.
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