Now that you have chosen your business name and business structure; the next step is to create a budget to keep your over-head costs down. After all, one of the main benefits of using virtual paralegals is to help lower client’s over-head costs.
The general start-up cost for a virtual paralegal business can range from $500 to $5,000.
If you do not have any client when starting your business, you should only purchase the basic items that you will need until you develop a clientele.
The basic items should include a computer; a printer that also has a scanner and copier as well as your practice management software.
Based on your preference you may use a tablet or laptop which will give you the ability to be mobile.
You will also need a smart phone on which you can send and receive emails at any time, as well as to access apps that are essential to operating a virtual firm.
The basic essentials for starting a virtual paralegal business will include the following:
- First you want to create a dedicated space in your home for your office.
- Determine your business structure
- Choose your business name
- Purchase home-base business insurance
- Purchase notary public insurance & bond, if applicable
- Draft your clients’ contracts & agreements
- Finalize your office procedures
- Printer, copier, scanner, shredder
- Smart Phone – activate/download Google Voice or Skype
Determine what software you will need to operate your business:
- Practice areas and case management software
- Billing and time keeping software
- Conflict check system or software
- Research software
- Document storage
- Business operating templates
- Court forms depending on your practice areas
- Apps commonly used by attorneys or law firms for your practice areas
- Fire proof safe – to store your clients’ originals