Alliance analyzed 2,369,405 data points to discover how virtual office services can support solo lawyers and small firms. They found that using virtual office services like shared office spaces and virtual assistants helped save anywhere between $20-$250K depending on company size. By working from home and using a virtual assistant, up to 4 billable hours are freed up every day.
HENDERSON, Nev., Oct. 24, 2022 /PRNewswire-PRWeb/ -- Alliance Virtual Offices analyzed over 2 million data points over hundreds of studies to determine what, if any, impact using virtual office solutions had on solo and freelance lawyers and small law firms.
They found that using virtual office services like shared office spaces and virtual assistants helped save anywhere between $20-$250K depending on company size. By working from home and using a virtual assistant, up to 4 billable hours are freed up every day.
Using a professional business address and phone number protects a lawyer by keeping their personal information private, shared office spaces increases networking potential, and enables better staff retention by offering flexible work options. There is a huge untapped client market in low- and no-income households, as lower overhead costs allow for lower fees for clients while making up the difference by saving on brick-and-mortar costs.
Relevant extant literature was reviewed from reliable sources by an experienced academic librarian to reach these conclusions. They sought to discover how using virtual office solutions impacts solo and freelance lawyers and small law firms.
Key Findings:
- Small firms, big savings: Starting/expanding a virtual small firm saves $20-50K over brick-and-mortar equivalents; medium firms save up to $250K
- Fewer hours, more profit: Working from home and using a virtual assistant can save up to 4 billable hours per day
- Protection, networking, and staff retention: Solo lawyers and small firms say virtual office solutions protect their privacy, increase networking, and retain support staff
- More clients: 86% of low- and no-income households have inadequate or no legal counsel – a huge potential market
View the complete results:
https://www.alliancevirtualoffices.com/virtual-office-blog/starting-a-virtual-law-practice-can-save-250k-year/
Alliance Virtual Offices helps businesses scale faster with high-quality flexible workspaces, market-leading tech infrastructure, and professional receptionist support.
Contact:
Alliance Virtual Offices
Mat Calica, 1-888-869-9494
[email protected]
Media Contact
Mat Calica, Alliance Virtual Offices, 1 888-869-9494, [email protected]
SOURCE Alliance Virtual Offices
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