When people think of the traditional law office, they typically picture a brick and mortar building. However, a growing number of law firms are changing how they do business.
For example, some law firms are doing away with physical offices entirely, opting instead for virtual law firms that operate solely online. By going digital, they can save on overhead, offer services at a lower cost, and enjoy a better work-life balance.
On the other hand, law is a profession that often requires meeting clients face to face. While a virtual office can offer a number of benefits, what happens when you need to have a conference with a client or opposing counsel? Where do you take a deposition or sign the paperwork?
Fortunately, executive office space style coworking provides a solution that allows law firms to save money while still enjoying all the benefits of a physical office space.
In recent years, coworking spaces have experienced a surge in popularity. There were 542,000 people using coworking offices in 2017, and that number is projected to double to 1.08 million by 2022.
While Silicon Valley can give people an image of coworking as groups of people playing ping pong and eating snacks in an open office concept, the reality of coworking is much different.
Flexible coworking spaces are real offices designed to fit a variety of professional workers. The idea is to offer an attractive, accessible, and professional looking space to business owners and their employees when they need it. By sharing the space with other businesses, people who use coworking spaces can also share the cost.
This reduces the high overhead that comes with buying or renting an office building — and then paying to maintain everything from the plumbing to the printer.
4 Reasons Coworking Is Ideal for Law Firms
Coworking is particularly well suited to law firms for a number of reasons. Whether you’re a solo practitioner or you run a small- to medium-size law firm, here are four things to keep in mind if you’re considering coworking.
- Meeting Space for Clients
Depending on what kind of law you practice, you may not feel comfortable meeting with clients in your home. Coworking gives you the professional space you need to meet with clients.
If you run an entirely virtual law practice or you work out of your home, you could try meeting up at a coffee shop or a library. However, this can leave a bad impression with clients. Meeting in public spaces can also make it difficult to discuss confidential client business.
When you use a coworking space, you have the ability to come and go as you please. You only use the space when you need it, so you don’t have to worry about unnecessary costs. You also get the privacy and amenities your clients expect from a law firm.
- Office Amenities for Attorneys
While the practice of law has modernized itself in recent years, there are still many things about law that are stepped in tradition. For example, you may still need to make copies of pleadings and file them with the clerk’s office. Likewise, you may need to send a subpoena via certified mail to comply with court rules or to ensure you have proof that the intended recipient received it.
You can take care of some of these tasks from home or by using a retail store that handles package delivery or mail service, but it can be a hassle to accomplish these things without a physical office of your own.
Coworking spaces come equipped with the tools you need to get these kinds of jobs done. If you can get certain tasks done at home, you have the freedom to grab your laptop and work at your place. However, if you really need an office to run some copies or prepare a bunch of pleadings, you can head to your coworking space and take care of everything on your to-do list.
- Cutting Costs During Covid-19
Cost is a major concern for most businesses these days, and law firms are no exception. Depending on where you’re located, real estate can be a major line item in your business’s budget.
With a coworking space, you eliminate monthly rent. Additionally, the cost of supplies and office equipment maintenance is typically rolled into the cost of the working space.
- Networking Opportunities
Running a successful law firm means being a business owner. As most business owners know, it’s important to market your business. When you’re a lawyer, marketing often means getting your name out there.
Coworking offers an opportunity to make connections with other business owners and fellow legal professionals. For example, if you practice estate planning and a fellow coworking colleague focuses on real estate, there are likely to be opportunities for client referrals.
Ready to Get to Work?
Coworking has a lot to offer law firms. From private spaces to networking opportunities, it’s an exciting mix of a traditional law office and the growing work-from-home movement. If you’re looking for ways to trim your budget and grow your practice, coworking is an option to consider.
- Jason Bowers CEO of Venture X Dallas Campbell Centre on CEO Money Show
Follow Jason Bowers CEO of Venture X Dallas Flexible Office coworking community on LinkedIn https://www.linkedin.com/in/dallasflexibleofficespace/