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9 Business Ideas for Lawyers and Attorneys

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Published on September 4, 2022

Updated on September 23, 2022

9 Business Ideas for Lawyers and Attorneys

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9 Business Ideas for Lawyers and Attorneys

Lawyers can become successful entrepreneurs. They’re trained to do research and  analyze the facts before taking any action. They are often good negotiators too. These traits are also essential to entrepreneurs. 

So what kind of business can lawyers like you embark on? You can start a bail bonds business or set up a consulting company. You can also start a blog, write a book, or do freelance writing. Explore our list of business ideas for lawyers before you get started.

1. Law Firm

Law Firm

If you’re a lawyer, starting your own law firm will provide you with flexibility you can’t enjoy if you’re just working for another company. With your own law practice, you can decide on the extent of your services, focus on a niche market, and be your own boss. 

Demand for legal services from businesses has remained strong from the start of the pandemic. It’s predicted to rise further as many businesses affected by the pandemic are expected to seek legal advice. Competition is going to be tough, though, as there are nearly 440,000 law firms in the US, according to market analyst IBISWorld.

You’ll need a significant amount to set up an office, hire some staff, purchase office supplies, and promote your services. An option is to start with a virtual office and save on overhead and operating costs. A virtual office can provide you with a business address and administrative services. If you stick to a solid business plan, your law firm should be able to get off the ground in no time.

2. Freelance Paralegal

Freelance Paralegal

Did you know that there is a growing demand for paralegal services? About 43,000 job openings for paralegals and legal assistants are projected each year through 2030 in the US. If you’ve had training or experience as a paralegal, starting a freelance paralegal business would be perfect for you. 

A paralegal provides assistance to lawyers. To become a paralegal, you must be knowledgeable about the US legal system and detail-oriented. As a freelance paralegal, you can start small and work from home. Most paralegals hold an associate’s degree or a certificate in paralegal studies. It takes at least two years to complete an associate degree program. Most states don’t regulate paralegals, but some states require paralegals and legal assistants to get a license. Some states also require paralegals to get continuing education credits. You will need to check out your state’s regulations before starting your freelance paralegal business. You’ll also need a bit of creativity to market your services and find clients.

3. Bookstore

Bookstore

Do you love reading? If so, opening your own bookshop could be a great way to encourage reading in your community while making a living doing what you love. Even in the age of Amazon and e-books, independent bookstores have been making a comeback, increasing by more than half in recent years, to 2,5000 in the US alone. People have begun to appreciate bookstores not only as a good place to buy a new book, but as a community gathering place and event space. 

You’ll need to find a great location, and build a sizable inventory of books, with your selections based on your personal tastes and preferences. You’ll also need to decide what other products you might offer — literary knickknacks, coffee and snacks, reading accessories? Beyond that, it’s relatively easy to get started. And if you do it right, the customers will surely come.

4. Freelance Writing

Freelance Writing

In this age of social media and digital marketing, opportunities abound for skilled and creative writers who can connect to any audience. In the US, employment of writers and authors is projected to grow nearly 10% per year through 2030. If you’re looking to capitalize on your writing skills and creativity, you might want to consider setting up a freelance writing business. You could write or ghostwrite for magazines, books, blogs, organizations and corporate clients. 

There’s nothing easy about freelance writing, though. You would be competing with millions of writers on known freelancing platforms so you’d have to work first at establishing your brand as a writer. Create a blog or a website, set up an account on social media and networking platforms, and connect with other writers to find your first client. It would take a lot of hard work, patience and dedication for you to succeed. But once you start to find some clients, you can expect to land more contracts.

5. Law Blog

Blog

In the podcast era, you might have thought that blogs had gone out of style. You would be wrong. The internet is home to more than 600 million blogs, more than 2 million blog posts go online every day, and after years of steady growth, the US is home to about 32 million blogs. Substack, the blog and newsletter platform, recently passed one million subscribers. As a result, there is real opportunity for a bold entrepreneur looking to start a blog business and get in this massive market. 

It requires minimal investment. All you really need is a reliable computer and decent wifi. The major hurdle is coming up with a concept, an objective or mission for your blog business. You might choose generating funds to feed hungry children or delivering crucial news to the people of your city or state. Once you’ve found your niche, you’ll need to reach out across your network, LinkedIn, Facebook, Instagram and beyond, looking for all those who write on related subjects and asking them to get on board. You could offer discounts, incentives, or rewards to sweeten the deal. 

Once a couple of accomplished bloggers sign on, the paid advertisements will start rolling in and you’ll be on the road to success in the blogging business.

6. Law YouTube Channel

YouTube
Sutipond Somnam / Shutterstock.com

So you want to start a YouTube business? Great idea! The opportunities for online businesses are endless these days, and video platforms like YouTube are one of the best places to start. YouTube’s ad revenue increased a stunning 25 percent in 2021, which means now is a great time to get in on the action. 

There’s no doubt that YouTube is a powerful business tool. But it can be a little tricky to know the best way to start a YouTube business. If you have some expertise or skill that is in great demand, you’ll want to create a series of videos and start your own YouTube channel. From there, you’ll need to generate visitors, and a great way to do that is to post about your videos and expertise across all social media, and tell your family and friends. 

As you keep delivering quality content, you should be able to start generate subscriptions, and that’s when the ad dollars start rolling in.

7. Resume Writing

Resume Writing

You might be surprised to hear it, considering the popularity of work-related social media platforms like LinkedIn, but resume writing is still big business. Countless college graduates and established professionals alike remain unable to create an appealing, strongly written resume and are willing to pay good money — up to $300 or more — for a quality CV. If you’re a perfectionist with strong writing skills, you could start your own resume writing business and help people find the jobs of their dreams while helping yourself find some serious success. 

You could start by reviewing some of the countless free online resume writing courses and brushing up your skills. Then you could reach out to a few friends and acquaintances and offer your resume writing services for free, or at a steep discount. Then, assuming you deliver quality work, they’ll provide you with testimonials and positive reviews and you’ll be on your way. Just be sure to keep your rates reasonable at the start, then you can increase as you build your brand, establish a reputation and add more and more skills.

8. Legal Consulting

Consulting Business

Business is revving back up as the pandemic recedes, and one of the industries best positioned to take advantage is consulting, which is worth more than $250 billion in the US and recorded strong growth in 2021. If you have an area of expertise — finance and budgeting, technology, operations, or management — you could start up your own consulting firm and help businesses improve their efficiency and profitability while also making a good living. 

Starting a consulting business is difficult, and will require hard work and determination, as well as a decent amount of red tape. Beyond building up a strong network and reliably providing value to your clients, a key element of your success will be understanding what sets you and your firm apart from your competitors and finding ways to promote that message to your target market and deliver on your promise. Accomplish this and you’ll soon build a reputation and, with a bit of luck, seven-figure revenues.

9. Bail Bonds Business

Bail Bonds Business

Helping people get out of jail might not sound like the most glamorous line of work, but a bail bonds business can be highly profitable, particularly right now. After several down years, the bail bonds market saw significant growth in 2020. By increasing unemployment and financial difficulty, the pandemic has altered the economic landscape and resulted in more people struggling with poverty and financial hardship. 

Starting a bail bonds business is a great way to help people who are struggling and make a real difference in your community. But bail isn’t cheap, so you’ll need a good amount of money to get started, probably at least $40,000. In addition, before you can open the doors you’ll need to get the required licenses and permits, as the bail bonds industry is strictly regulated. You’ll also need to decide whether you want to open a bail bonds shop or run a mobile business that comes to your customers. But once all this has been addressed, you’ll be making real money fast!