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Law firm business plan
| Institution | Kisii National Polytechnic |
| Course | Human resource manag... |
| Year | 2nd Year |
| Semester | Unknown |
| Posted By | MAKORI KERECHA |
| File Type | docx |
| Pages | |
| File Size | 173.19 KB |
| Views | 2267 |
| Downloads | 0 |
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Description
CHAPTER ONE: BUSINESS DESCRIPTION
The business name will be Makori Advocates Law Firm located in Kisii Town adjacent to Kisii general hospital within CBD, Business address is P.O Box 158 kisii. The form of the business will be sole proprietorship so that all the profit is enjoyed by oneself. The starting capital will be 1.5 Million, other sources will be grants and loans.
CHAPTER TWO: MARKETING PLAN
The law firm business just like other service industries is an exciting and a competitive venture, expanding rapidly ranging from civil courts to huge investments of top law firms. Starting and running a law firm may be challenging and daunting, but a profitable law firm business venture. The marketing plan takes into cognizance the dynamic and competitive market nature unpredictable demands of the clients. The initial and prudent steps will to increase the market share through advertisements and promotions to publicize the law firm services offered to attract more clients. The specific target market population is the general public, people within the building, town residents, the nearby hospital employees, patients, students and lecturers .
The main competitors of the business will be those other entities carrying out similar business activities within the market area. The proposed business aims to provide efficient and real-time services and quality services, The menu pricing of the services will be considerate and reasonable.
CHAPTER THREE: ORGANIZATION AND MANAGEMENT PLAN
Makori Advocates Law Firm is to operate under a competent management with the support of key personnel who shall be skilled and are resourceful in law firm service. These will include employees who are knowledgeable and experienced in law field. The law firm, therefore, shall require the services in law.
The recruitment shall be carried out with regard to educational qualifications and training background for those aspiring for senior positions of responsibilities, duties, supervision and services. Other subordinate employment entry level may not require specific academic standards other than emphasis on good personality and ability to work with people cordially with hospitality holding all clients with high regard. To improve quality of service to clients, on-job and in-house training exercises shall be conducted from time to time to reinforce the needed and relevant advocate skills and knowledge. The promotion of an employee shall be based on merit, capability, performance, production and loyalty. The employees’ incentives will be based on overtime and salary increments and other monetary gifts depending on the prevailing cost of living. The business will operate legally under the government policy and county by-laws and acquiring relevant business licenses, permits and other by-laws. Amongst other supporting services the business shall seek arelegal, banking and postal services. Health and safety mechanisms shall be applied and fire extinguishers shall be fitted. In addition to the postal services, the business shall consider the use of Information Communication Technology (ICT) by developing a fully functional website to reach a wide client market.
CHAPTER FOUR: OPERATIONAL AND PRODUCTION PLAN
Business shall need to invest in essential law equipment and tools, supplies and furniture appropriate for the modern law firm business and to ensure efficiency and comfort. The size and space of the room(s) to place necessary law firm equipment, to be considered for easy access whenever service calls.
Running a law firm requires an attractive space to lure clients, and plenty of law firm equipments and tools/ware for good and expeditious service delivery.
The business will be situated in Kisii Town, occupying the ground floor of Mwangaza building, located opposite Kisii County General Hospital, adjacent to the public service vehicles/buses terminus. The location is within the plum central business district (CBD) of Kisii Town. It will serve the general public, people within the building, town residents. The whole idea was arrived at after thorough observation and viability study that there are no better optional law firm services within this vicinity aside from the temporary structures serving as law firm. Major Law firm are located distant from this area. The locality is very accessible through good network of roads and inhabited with high population which consequently presents favorable Law opportunities and good market for the law firm services. Other essential amenities and utilities that entice business establishment such as security, water and electricity are available.
CHAPTER FIVE: FINANCIAL PLAN
This is a concise statement that requires financial calculations and expected income. The business desired financing is to be inclusive of pre-operational costs which cover costs of renovating the premises, rent, purchasing and installation of equipment, insurance and licenses, legal procedures, water and electric utilities, cost of advertisements and promotions.
Makori Advocates Law Firm will uphold the financial management policies and accurate book-keeping for day-to-day exigencies and for posterity of references of finance records. The books of the business accounts will be verified and audited regularly. The capital required to commence the business will be approximately Kshs 1,500,000 and expected to get a closing balance of approximately Kshs 5,000,000 by the end of the third year.
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It contains production facilities and capacity, production strategy, process and regulations affecting operations. The process involves the steps to be followed in producing garments especially commercial paper patterns and offering services of high standard than competitors. Besides this, it also contains expenses incurred in the business with regulation affecting all operations with the premise.
CHAPTER FIVE
Contains financial plan, pre-operational costs, cash flow statement, Performa, balance sheets, break even analysis and even others which have been indicated in table contain chapter five
The financial statement helps to compare the performance of the business with another business. The interpretation will also enable the business to compare the current performance and also predict the future.
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