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Comments

Dave

Chuck,

I totally agree with your basic premise. Start small, work your way to whatever works for you. Monthly overhead can be tough and you don't want to do anything before you really have the client base and sometimes never.

You're absolutely right, with the current technology, it's very feasible for lawyers to work out of their home, with no staff and keep overhead to a minimum.

I started my own practice with $1,500 straight out of law school and kept my overhead very low at the beginning.

I *do* disagree with the example of the fast food industry. Fast food is a *totally* different business model.

Say with McDonald's or Burger King, you pay a whopping amount of money for a system.

In the fast food industry, you don't have to find the architect, or the location, or other items involved with the building. They do this for you.

You actually *do* know how well it will do, because based on demographic patterns of a city and the traffic patterns along the site road, they can predict very accurately how much money they'll make.

You aren't buying a pig in a poke, everyone knows the menu in McDonald's or Burger King. If you don't like it, don't buy one.

They have a consistent system for training employees.

So in short, you pay buckets of money for a proven system and a process, where you don't have to build it from the ground up. They have the site selection, the vendors, the menu, the equipment, the training and everything down to the napkins and hours. And you're not allowed to deviate from it.

I wouldn't want to be involved in a business like that, because it doesn't allow any variation or chance for creativity.

But it is a valid business model, and you're not really being surprised by what you get.

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