In 2023, there were 449,633 law firms in the United States. While many lawyers choose to join a large law firm, many others choose to become sole practitioners.
While you may feel like you need to join a large law firm to have a successful career as a lawyer, becoming a sole practitioner is a valid option as well. Becoming a sole practitioner also offers some big advantages that other options don’t.
Here are the top benefits of becoming a sole practitioner that you should know about.
You’ll Have More Control
One of the best things about being a sole practitioner is that you’ll have complete control over your business.
While managing the business yourself can make things more difficult, it can also give you a lot of control. You’ll be able to choose which cases you take on and make decisions about the direction of the law firm.
If you’re business-minded, then this can feel much better than working for someone else and having no control over the business as a whole.
You’ll Have a Better Work-Life Balance
More control over your business also allows you to have better working conditions.
You can choose your own work hours and will gain a lot of flexibility over your schedule. Working flexible legal jobs allows you to make time for your family and achieve a better work-life balance.
In addition to this, you’ll have complete control over your working environment as well. You can customize the office space exactly to your liking. This can help you feel more comfortable and enjoy your working time even more.
You Can Experience More Variety
One of the things that sole practitioners love about working for themselves is that they get to experience more variety. Unlike when working for a larger law firm, you’ll have more flexibility over practice areas and can work for a larger variety of clients.
Especially if you’re starting out, this can be useful since you’ll get to experience a lot of different types of cases. You can learn by experience which areas you’re most interested in before deciding to choose a specialty.
A sole practitioner law firm can also be more cost-effective than a larger firm.
The cost of operations for large law firms can be very high due to the large staff and office space. A solo lawyer may not need staff or a lot of bells and whistles.
As opposed to operating a larger law firm, working as a sole practitioner can be very affordable and you won’t need much to get started.
You Could See High Returns
While the cost of operating a solo practitioner law firm can be very low, the return on investment (ROI) can be pretty high. Because you’ll be the owner of the business, you’ll also get to reap the rewards when things go well.
As a salaried lawyer in a large law firm, your income won’t change very much, even if the law firm is doing very well. If you’re able to run a great business as a sole practitioner, then you’ll likely make a great profit.
Deciding to Become a Sole Practitioner
If you’re thinking about becoming a sole practitioner, you could be making a very good choice. As a sole practitioner, you’ll have more control, a better work-life balance, and potentially a higher income as well.
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