Executive Summary
Premium Attorneys is an attorney employment agency that caters to the missing middle law firms. Those that get overlooked by the major staffing agencies. We were established after being treated horribly as a mid-sized law firm seeking temporary attorneys. Our business model is based on inclusivity, and we have pricing tiers that suit all clients. We were established 7 years ago by two attorneys who wanted to break the status quo of agencies looking down on small firms when choosing temp workers.
Premium Attorneys is seeking $80,000 in start-up or growth capital to fund operations, marketing, and staffing in the first 12 months.
Financial highlights:
| Metric | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Revenue | $480,000 | $780,000 | $1,150,000 |
| Gross margin | 28% | 28% | 28% |
| Net profit / (loss) | ($68,400) | ($84,600) | ($100,500) |
Company Overview
Attorneys aren’t hard to find, but good attorneys can be. Spending days reading up on the work history of different attorneys is not ideal when you needed legal assistance yesterday. That’s where legal staffing agencies come in. Instead of searching for your next attorney from random, tedious sources, you simply consult with us, and we’ll send them to you. We already have only the best in our books and know who suits each case. This results in us recommending someone tailored to your needs. Premium Attorneys has a database of new and experienced attorneys to suit different budgets without sacrificing the quality of your legal representative. We service both one-time clients and firms who want to hire permanent staff. We are a medium-sized entity founded by two friends who met in law school. We have 20 years of experience each and thought of starting this company 7 years ago when our firm struggled to find high-quality candidates to employ. We knew they were out there; we just couldn’t reach them. We consulted with a legal staffing agency, but we were a small firm at the time, and let’s just say we were treated poorly. When we found out that many other firms were receiving similar treatment, we knew something had to change. A quote we are inspired by as a company, which later became our unofficial mission statement of sorts, is “Be the change you want to see in the world.” Hence, Premium Attorneys was born. In our 7 years of existence, we have set up a system for attorneys and other legal staff to sign up for our database, which potential employers can access and choose from.
Legal structure: LLC
Mission: To deliver exceptional attorney employment agency services to clients in New York, New York, USA, building long-term relationships through quality, reliability, and deep expertise.
Objectives:
- Year 1: Establish operations, reach initial revenue target of $480,000, and build a loyal client base
- Year 2: Expand service capacity, grow revenue to $780,000, and hire additional staff
- Year 3: Achieve operational profitability, strengthen market position, and evaluate expansion opportunities
Market & Customer Analysis
Premium Attorneys focuses on providing their services to small to midsize law firms that need permanent and temporary staff. Midsize law firms often seek temporary staff for projects that are bigger than their typical operations. The new staff will help with an existing case for a limited period. Small firms hire temporary staff to handle a case from start to finish. This happens when they do not have staff available due to the limited number of permanent employees. Attorney employment agencies are experiencing continued growth, which suggests an increased need for businesses that provide this service. There is no small number of them, but the market is ever-growing, and there is space for multiple players in the industry. While there are many employment agencies, law firms are starting to see the value in using the specialized services of an attorney employment agency that better understands what they need.
Customer analysis:
Premium Attorneys’ customer base has two segments.
Our true customers are law firms. We primarily work with small firms that need temporary employers to work on cases. These firms prefer to employ early-career attorneys to give them experience. They typically have experienced attorneys as permanent employees and do not need people with extensive expertise.
That makes the second segment of our customers recent graduates and early-career lawyers. They sign up to be on our platform and be connected with law firms needing temporary relief employees.
Competitor analysis:
| Competitor | Strengths | Weaknesses |
|---|---|---|
| Major Lindsey & Africa | Established brand, wide reach | Higher price point, less personalised |
| BCG Attorney Search | Strong marketing, national presence | Generic offering, less specialist focus |
| Special Counsel | Competitive pricing | Lower service quality, limited expertise |
Premium Attorneys's competitive edge: Specialist expertise, personalised service, and a clear focus on the underserved segment of the market set us apart from the established players listed above.
SWOT analysis:
| Positive | Negative | |
|---|---|---|
| Internal | Strengths: Specialist expertise; experienced founder; strong client relationships; differentiated positioning | Weaknesses: Limited brand recognition as a new entrant; single location; reliance on founder capacity in early years |
| External | Opportunities: Growing market demand; underserved niche segments; digital marketing reach; referral network growth | Threats: Established competitors with greater resources; economic downturn reducing discretionary spend; regulatory changes |
Sales & Marketing Plan
Premium Attorneys currently has a rotation of 15 firms employing temporary staff from them. As those firms grow, new firms enter the market, and some of the temporary staff become permanent, we aim to increase our client base to 25 in the next year. In addition to our routine clients, we want to branch into the market of one-time clients who are in need of legal representation. Going about this would differ from our typical business operations as we are not a law firm. However, our experience at our own firms aids us in this situation. We know the best practices of being an attorney on a case-by-case basis. Adding this department to our business would enable us to provide work for our temps in seasons when our clients do not need much extra help.
Pricing strategy: Pricing is set to be competitive within the New York, New York, USA market while reflecting the quality and specialist nature of the services delivered. All pricing is reviewed annually against market benchmarks.
Marketing channels:
- Digital presence (website + SEO) — professional website with content marketing to attract organic search traffic from clients searching for attorney employment agency services in New York, New York, USA
- Social media — active presence on relevant platforms to build brand awareness and engage prospective clients
- Referral programme — incentivised referral programme for existing clients; target 30% of new clients via referral by end of Year 2
- Local networking and partnerships — attendance at industry events and partnerships with complementary businesses in New York, New York, USA
- Google Ads — targeted paid search campaigns for high-intent keywords during launch phase
Marketing budget Year 1: $38,400 (8% of projected revenue)
Additional marketing notes:
Premium Attorneys is the employment solution for the expanding market. The world is bigger than your geographical location, and we bridge that gap between where you are and where you want to be. Premium Attorneys is an employment agency for lawyers. Our brand uses visual and non-visual elements similar to law firms to familiarize itself with the industry. We market our services by advertising at universities for our attorney base. To attract clients, we advertise in law publications and business classifieds. We also use an advertising agency to reach more corporate clients. 5/What is an Operating Plan? An operating plan sets out the organization’s objectives and how they will be achieved. It’s the plan of the business’s day-to-day operations. The key elements of an operational plan are:
- Defining the business’s main goal
- Breaking the main goal into smaller departments
- Assigning funds, teams, resources, and responsibilities
- Setting up a reports system to monitor progress Your operational plan should be able to serve as a guide for employees if no superior is present. The operating plan is flexible in terms of how you choose to structure it. There are many templates available, so you’re absolutely spoiled for choice. However, you can keep it simple by doing the operating plan in paragraph format. If it ain’t broke, don’t fix it.
Operating Plan
Premium Attorneys’ main operational goal is to connect attorneys with law firms on a temporary basis. The office manager will be responsible for maintaining the database of available attorneys and liaising with the firms that book them. They will also be monitoring the business’s progress together with the financial manager. The financial manager will draft budgets, determining whether the business can afford to expand or not. They will also meet with HR to keep up with salaries. When a firm is first interested in acquiring a temp, they will contact the receptionist, who will inform them of our tiers and their cost. New graduates are available at a lower rate than experienced attorneys due to their need to build experience and a reputation in the field. They will then be referred to the office manager or one of the owners to further the process. Once a firm has chosen its temp, a contract will be signed and fulfilled. To maintain accountability on both parties’ end, the law firm will pay half of the temp’s salary upfront, and Premium Attorneys will cover the rest until the completion of the temp’s time at the firm. 6/What is a Management Team?
The management team section of a business plan is the description of an organization’s team, structure, and form of ownership. The managers are introduced, along with their skills and qualifications and how they are suited for the positions they occupy. Why should you have a management team section in your business plan? It proves that you have a competent team to lead your business to success. Investors are more likely to fund businesses that have strong, capable teams. If your management team is missing members, elaborate on your plan to complete the team. This shows that the business is future-focused and plans on sticking around long-term.
Staffing plan:
| Role | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Alexandra Reid (Owner / Director) | Full-time | Full-time | Full-time |
| Operations / Senior Staff | Part-time | Full-time | Full-time |
| Support / Junior Staff | — | Part-time | Full-time |
Legal & compliance:
- All required licences and permits for attorney employment agency operations in New York, New York, USA
- Professional liability and general liability insurance
- Data protection compliance in accordance with applicable laws
- Health & safety policies and risk assessments in place before trading begins
Management Team
Premium Attorneys is co-owned by Braydon Eastwood and Harrison Louis, who have known each other since attending Harvard Law together. Premium Attorneys is an LLC. After graduating, Braydon and Harrison worked at large firms for many years, where they gained the experience that is helping them in their business today. They eventually started a small firm together, and after a horrible experience with a temp law staffing agency, they decided to start their pivot in this direction. Premium Attorneys is run mainly by Braydon and Harrison in conjunction with a few other key management staff. The PA team comprises a general office manager, an accounts manager, HR personnel, and a receptionist. They will all be paid [industry-relevant salaries].
Alexandra Reid — Founder & Director
Advisory support: The business will engage an experienced accountant and a business mentor through the local enterprise support network to provide financial oversight and strategic guidance during the first three years of trading.
Financial Plan
Projected Profit or Loss Statement Sales $200,000 $220,000 $270,000 Direct Cost of Sales $0 $0 $0 Other $0 $0 $0 Total Cost of Sales $0 $0 $0
Gross Margin $200,000 $220,000 $270,000 Gross Margin % 100.00% 100.00% 100.00%
Expenses
Payroll $75,000 $90,000 $100,000 Sales and Marketing and Other Expenses $2,000 $3,000 $3,600 Depreciation $1,000 $1,000 $1,000 Utilities $950 $1,000 $1,000 Insurance $5,000 $5,100 $5,200 Rent $10,000 $10,000 $15,000 Payroll Taxes $10,000 $12,000 $12,500 Other $0 $0 $0
Total Operating Expenses $103,950 $122,100 $138,300
Profit Before Interest and Taxes $96,050 $98,000 $131,700 EBITDA $107,050 $110,900 $145,200 Interest Expense $1,000 $1,000 $1,000 Taxes Incurred $10,000 $12,000 $12,500
Net Profit $85,050 $85000 $118,200 Net Profit/Sales 48% 39% 44%
Projected Statement of Cash Flows
Cash Received
Cash from Operations
Cash Sales $200,000 $220,000 $270,000 Cash from Receivables $0 $0 $0 Subtotal Cash from Operations $200,000 $220,000 $270,000
Additional Cash Received
Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $40,000 $0 $0 Subtotal Cash Received $240,000 $220,000 $270,000
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations
Cash Spending $75,000 $90,000 $100,000 Bill Payments $28,950 $32,100 $38,800 Subtotal Spent on Operations $103,950 $122,100 $138,800
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 Principal Repayment of Current Borrowing $0 $0 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $0 $0 $0 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 Subtotal Cash Spent $103,950 $122,100 $138,800
Net Cash Flow $136,050 $97,900 $131,200 Cash Balance $136,050 $233,950 $372,750
Projected Balance Sheet Assets
Current Assets
Cash $136,050 $233,950 $372,750 Accounts Receivable $0 $0 $0 Other Current Assets $0 $0 $0 Total Current Assets $136,050 $233,950 $372,750
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000 Accumulated Depreciation $1,600 $3,200 $4,800 Total Long-term Assets $8,400 $6,800 $5,200 Total Assets $144,450 $240,750 $377,950
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $0 $0 $0 Current Borrowing $0 $0 $0 Other Current Liabilities $0 $0 $0 Subtotal Current Liabilities $0 $0 $0
Long-term Liabilities $0 $0 $0 Total Liabilities $0 $0 $0
Paid-in Capital $100,000 $100,000 $100,000 Retained Earnings $ $0 $100,000 Earnings $85,050 $85,000 $118,200 Total Capital $185,050 $185,000 $318,200 Total Liabilities and Capital $185,050 $185,000 $318,200
Net Worth $144,450 $240,750 $372,750
Wrapping up
Now that you know the ins and outs of writing a business plan, it’s time to put your knowledge to work.
You will feel a bit lost trying to apply the guide to your business, but once the pen starts flowing, you’ll be giving me a run for my money.
Trust me; you know your business better than anyone ever can. Just put that passion into your research and writing, and it’ll feel like light work.
Remember to have an excellent elevator pitch. It’s gotten more than one company their big break!
3-year profit & loss projection:
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Revenue | $480,000 | $780,000 | $1,150,000 |
| Candidate placements and direct costs | $345,600 | $561,600 | $828,000 |
| Gross profit | $134,400 | $218,400 | $322,000 |
| Gross margin | 28% | 28% | 28% |
| Salaries and wages | $105,600 | $171,600 | $253,000 |
| Marketing and advertising | $38,400 | $62,400 | $92,000 |
| Rent and utilities | $30,000 | $30,000 | $31,500 |
| Other operating costs | $28,800 | $39,000 | $46,000 |
| Total operating expenses | $202,800 | $303,000 | $422,500 |
| Net profit / (loss) | ($68,400) | ($84,600) | ($100,500) |
Break-even analysis:
- Estimated fixed monthly costs: $13,700
- To cover fixed costs, Premium Attorneys needs to generate approximately $48,900 in monthly revenue
- Break-even is projected to be reached in Month 9 of trading
Key financial assumptions:
- Revenue growth of 62% in Year 2 and 47% in Year 3 based on planned capacity expansion and marketing investment
- Candidate placements and direct costs estimated at 72% of revenue throughout the forecast period, consistent with industry benchmarks
- Staffing costs set at 22% of revenue, scaling incrementally with new hires in Year 2 and Year 3
- Marketing budget fixed at 8% of revenue; reviewed quarterly and adjusted based on channel performance
- No bad debt assumed; payment terms enforced from day one
Funding requirements:
Premium Attorneys is seeking $80,000 to fund the following:
| Use of funds | Amount |
|---|---|
| Equipment and fit-out | $32,000 |
| Working capital (6 months) | $28,000 |
| Marketing launch | $12,000 |
| Legal, licences, and professional fees | $8,000 |
| Total | $80,000 |