Law Office of K. Morgan Profumo | Application Preview
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General Information
Business Registration Number: 863299475
Location: Louisville, KY, United States
Length of Operation: 0
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
This will cover all of the personnel, administrative, and occupancy related expenses for the first year of the business. I will need to hire an administrative assistant for the firm, thus his/her potential salary is included in the funding request.
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Business Plan
Since this is a solo law practice, my goal for the company within the next five years is to expand the firm. I would love for the firm to become a multi-attorney firm so that we can take on more cases and bring in more income. Investors should invest in me because I possess one thing that other companies do not -- time. Because I am freshly out of law school, I have an unlimited amount of time to dedicate to the practice of law and building my firm. Money is a renewable resource (of course a resource I am lacking), but time is not renewable. It takes time and dedication to make a business work. Additionally, I am 26 years old. At this age, I am able to make a drastic difference in the law the law profession works. I have an extraordinary amount of savvy when it comes to technology and innovative ways to accomplish things. This is particularly important since COVID-19 has changed the way people do business. At 26, I am able to build my own practice and ensure I am practicing law in a way that I am morally and financially proud of. With funding from an investor, I will be able to take my dream of helping people and put it to practice.
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Self Identified Competition
My top three competitors are all of the major law firms in Louisville, Kentucky. I don't believe that there are any three law firms that have the upper hand. Luckily, it is all about networking. Every law firm is a competitor. With that in mind, it will be easier for me to navigate the waters. I understand that my business structure needs to be innovative and fresh in order to stand out from the crowd. In addition to all of the things mentioned in the above categories, I would say what makes me different from my competitors is that I plan on practicing law in areas that are not overly saturated. They are areas that have the least amount of attorneys working in them. Additionally, I would say that my youth and outlook on the legal profession in general is something that allows me to stand out from the crowd. I believe that my approach to business as more than a money-making machine and more of an enjoyable process will allow my business to thrive and will provide me with recurring clients.
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Contact Applicant
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