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Opening, Operating or Closing a Practice Opening Your Practice
Appendix 4 - Developing a Law Firm Business Plan
Opening, Operating or Closing a without the unanticipated surprises that cause practices to fail.
Practice
1. EXECUTIVE SUMMARY
The Lawyer-Client Relationship
Managing Money
[brief summary paragraph]
H. Financing Requirements
[brief statement]
4. FIRM ECONOMICS
A. Start-up Expenses
[detailed analysis – insert chart or spreadsheet]
Total Start-
Up
Expenses
B. Billing Summaries
[detailed analysis – insert chart or spreadsheet]
Projected
Per Month Per Year
Revenue
Hourly Fees $
Contingency Fees $
Flat Fees $
Retainer Fees $
Other Fees $
Other Revenue $
Total Revenue $
C. Expense Summaries
Partners $ $
Associates $ $
Paralegals $ $
Law Clerks $ $
Assistants $ $
Other Sta $ $
Sub-total Payroll $ $
Expenses
Payroll Taxes $ $
Insurance $ $
Parking $ $
Other $ $
Advertising $ $
Bank Charges $ $
Books $ $
Other Library $ $
Expenses
Client Development $ $
Equipment Rental $ $
Insurance-Gen. $ $
Liability
Insurance-Excess $ $
Maintenance/Repair $ $
O ice Supplies $ $
Periodicals $ $
Professional $ $
Fees/Dues
Rent $ $
Taxes $ $
Telephone $ $
Travel Expenses $ $
Utilities $ $
Sub-total O ice $ $
Expenses
Total Expenses $ $
$ $ $
$ $ $
$ $ $
$ $ $
5. MARKETING PLAN
A. Overall Marketing Strategy
[detailed analysis – may be additional pages]
6. FIRM PERSONNEL
A.
Partners
B.
Associates
C. Key
Sta
7. FIRM PERSONNEL
A. Income Statements and Balance Sheets
[detailed analysis – insert chart or spreadsheet]
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