Nowadays, there is much hype about the term boutique law firms in the legal industry. As a legal professional, you must’ve heard of this term several times. The mere fact that more and more lawyers choose to work at or open up a boutique law firm indicates its demand.
Put in a simple way, a boutique law firm is typically a small sized law firm with under 20 attorneys. In addition to being small in size as compared to bigger law firms, boutique law firms provide services in selected or niche practice areas. This gives them the edge to provide more specialized services, along with higher experienced staff and a limited client list.
With major advancements in technology helping the world move towards remote working, and with a greater focus on work-life balance, young attorneys and many legal professionals now have different goals instead of aiming to just be a part of a big law firm. Working in big law firms still hold a certain amount of prestige but the major benefits provided by boutique law firms have legal practitioners flocking towards them.
As a legal practitioner, if you’re looking for reasons to work at a boutique law firm, here are a few benefits:
- Targeted focus
Boutique law firms give you opportunities to work on your passion to do exceptional legal work in a certain a certain area of law. If you choose to work in a boutique law firm that specializes in a specific area of your interest, your chances of getting greater satisfaction while doing your legal work is higher.
- Get noticed with greater impact
Smaller, boutique practices make it easier for you to have your voice and opinions heard when it comes to business decisions that have an impact on the firm.
- More flexible fee structure
When you are offering higher level of expertise and client service, your fee is a great way to reflect that level of service. Additionally, smaller boutique firms generally have higher flexibility with how they charge. You could also offer alternative fee structures when it comes to law firm pricing.
- Stronger client relationships
Because smaller boutique law firms take on selected clients compared to big law firms, this gives legal practitioners the ability to focus more and deliver personalized, client-centered service to the clients, due to fewer cases to manage and a more specific client base.
In the entrepreneurial aspect, boutique law firms provide a wide scale of benefits as well. These include lower costs and better implementation of LegalTech. Some other factors that can help you run a small boutique firm are automation and legal practice management systems such as Casengine, client intake, and virtual receptionist services.
So, in case you are thinking of taking your legal career in a new and dynamic shift, or thinking of rebranding your law firm, boutique law firms are a viable option to consider.
