Wondering how to start a law school? We take you step-by-step from start to success.
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Best Practices for Writing a Law School Business Plan
You know that a business plan is important. The only problem is that you don't have any idea how to write one.
Fortunately, you don't have to tackle your law school's business plan by yourself. There are plenty of useful solution designed to assist law school entrepreneurs in business plan writing.
Our Business Plan Help section discusses some of the business plan resources other entrepreneurs have found useful.
Prior to launching a law school in your area, it's worthwhile to determine how many competitors you have. Try our link below to generate a list of competitors near you. Just enter your city, state and zip code to get a list of law schools in your community.
How tough is the competition in the market you are considering? If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead.
Studying the Market
If you want to open a law school it's a wise move to learn as much as you can from somebody who is already in the business. It's very unlikely that the local competition will talk to you. What's in it for them?
But, a person who owns a law school on the other side of the country may be more than happy to give you a few tips, once they realize that you are not going to directly compete with them in their community. Many business owners are happy to give advice to new entrepreneurs If you are persistent, you can find a business mentor who is willing to help you out.
What's the process for finding somebody who runs a law school in another city who you can speak with?
Simply, try our helpful link below, type in a random city/state or zipcode, and start calling.
Pros & Cons of Buying a Law School
An acquisition can be a great way to enter law school ownership. But it's important to evaluate the benefits and drawbacks of buying a business before you decide on either an acquisition or startup approach.
PROs: A good law school will deliver revenue and ROI from day one. Even more, the right law school acquisition can place you in a market leadership position from your first days as a business owner.
DRAWBACKS: Acquired law schools sometimes have entrenched processes and systems that run counter to your business objectives. If an acquisition target appears unmalleable, move on to another prospect.
Don't Rule Out Franchising
If you are risk averse, consider the advantages associated with opting to buy a franchise.
As part of your process in starting a law school, you should assess whether franchising might make sense for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you came here to learn about selling to law schools, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.