Litigation practice business plans can be as complex as the legal filings themselves. They should have a description of the full range of legal services that the company will offer, an assessment of the regional market opportunity for the litigation, an assessment of the number of litigations that occur in the greater area each year or demographic census data focused on the target consumer profile. The following are questions that you can answer to start the process:
- What size staff and management will you occupy?
- How much capital do you intend to raise?
- What are the competing firms or freelance litigators in your area?
- What will be the areas of legal expertise?
- How much will the firm charge for legal services?