The Two Faces of The Law - Part III

(Continued...)

By Chrissie Lightfoot 

Chrissie Lightfoot is CEO of EntrepreneurLawyer Limited where she advises professional service firms (and their individual people) globally on marketing, personal branding, sales, social media, social networking and innovation. The (London) Times newspaper recently reported Chrissie as one of the Top Ten Best Legal Tweeters. She is a non-practising solicitor, an entrepreneur, international keynote speaker and author, best noted for her groundbreaking book The Naked Lawyer: RIP to XXX – How to Market, Brand and Sell YOU!   

A new concept

 Law providers, both existing and start-up, operating in the alternative business structures landscape - and global legal market place for that matter - will require a different type of approach to their business:  even more client-focused but with a far lower cost-base to enable them to meet the challenges and exploit the opportunities that lie ahead.

face2face solicitors appears to be a new concept in legal provision operation, designed for small-to-medium sized firms and/or frustrated entrepreneurial lawyers who want to take control of their future in the newly competitive world. It appears to have been designed specifically to counter the growing number of web and call centre based, low-cost providers of ‘face-less’ legal services.

The way I understand it, it’s pretty much a 'law business in a box' where franchisees will be able to start up their business without the ‘this is the way we’ve always done things around here’ mentality and the ‘baggage’. I’m a firm believer and eternal optimist that the future is bright for progressive entrepreneurial lawyers and small firms who love the law but recognise the need to deliver it in a new innovative whilst personal (human) way.

What I particularly like about this model is that the franchisees at face2face solicitors will be vetted for their drive and passion in delivering extraordinary customer service in a new way to their clients. All franchisees are fully supported and receive continual training and mentoring to help them to develop and build their own successful business in the law, an essential part of which is the development of personal brands – the 'Brand, Me' – something which is dear to my heart.

A cool option

As I understand it, what will be attractive for potential franchisees is as follows:

• Accessing a host of 'best of breed' I.T. and services – including Virtual Practices legal accounting, case and practice management from SOS;
• Compliance and Risk Management embracing latest Outcome Focused Regulations;
• Bags of help and advice for marketing – something we lawyers would definitely welcome no doubt;
• On-going Mentoring on a monthly basis – business savvy support;
• On-going CPD training in management / marketing / sales / team motivation;
• Being part of a network of likeminded people;
• Being part of a strong national brand;
• Preferential PII arrangements;
• Lower start up costs;
• Franchise financing - to be offered; and
• Creating and building value for their practice for subsequent retirement/exit.

I guess if you’re looking to be a player in the new legal market place and would prefer to straddle Face to Face and the Interface, and you’re considering grappling with the challenges of taking the best of the old and integrating the best of the new, face2face solicitors looks like a pretty cool option. I can’t see how one could put a complete legal start-up business together for anything like the alternative capital and cash-flow outlay or loss of control and reduced equity alternative, as would be the case if one chooses to go down the external funding (venture capital; business angel; listing) route when Legal Service Act 2007 takes full effect.

This franchise model is worthy of further investigation, I reckon.

Part 4 coming soon...

Chrissie Lightfoot
The Entrepreneur Lawyer
(of the naked kind)
Author of The Naked Lawyer: RIP to XXX – How To Market, Brand & Sell YOU!

 

 

Comments

[Franchise lawyers]

Yes, I agree with your point "The Two Faces of The Law", Laws are made for your protection. thanks for sharing very informative legal, knowledgeable information.