An interesting article from the ABA Law Practice division asks you to consider the restaurant business as a metaphor for law firms and to identify what type of business you would be running in that context. In my experience, most law firms would consider themselves the high-end type. That leaves gaps – and opportunities – in other parts of the market. I couldn’t help but think of Axxess Law and their highly successful fixed fee model with locations inside Walmart stores when the article was discussing the runaway success of the more “low-brow” Shake Shack operation vis-a-vis its upscale counterparts.
Lawyers may find thinking about their practices like McDonald’s distasteful (no pun intended). That’s fine. High-end restaurants make money too. The key for a law firm is understanding which kind of firm they are — high-end or low-end — and then designing marketing and business operations to attract the right kind of clients and to service them according to that model.