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Here is an example Financial Impact Analysis using only one attorney. Please feel free to download a copy of the spreadsheet for yourself and play with the numbers.
| Financial Impact Analysis (Download your own Spreadsheet here) | ||
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Virtual Law Office from Legal Access Management Group, LLC |
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| Number of Attorneys in firm | 1 | |
| Minimum Billing rate per hour | $ 150 | |
| Percent of hourly billings | 75% | |
| Number of Paralegals in the firm | 0 | |
| Billing rate per hour | $ 0 | |
| Base Nation-wide Conversion Rate of Referrals to Clients | 10% | |
| Revenue per client (Minimum Retainer) | $ 1500 | |
| New VLO Incremental Revenue | $ 50 | |
| Business Value Forecast | ||
| Financial Impact Analysis | WEEKLY | MONTHLY |
| Increase in attorney billing an additional 2 hrs per week: | $ 225 | $ 900 |
| Increase paralegal billing an additional 1 hr per week | $ - | $ - |
| Referrals from the Base Client Conversion Rate | $ 2,588 | |
| New VLO incremental revenue | $ 200 | $ 800 |
| Total Increased Revenue | $ 4,288 | |
| Net Value: | MONTHLY | YEARLY |
| Increase Revenue Available from VLO Program | $ 4,288 | $ 51,450 |
| Cost of the Solution | $ 275 | $ 3,300 |
| Net Value/Profit Improvement | $ 4,013 | $ 48,150 |
| Payback Period (in months) | 0.82 | |
| Return on Investment | 1459% | |
| © 2002 Legal Access Plans, LLC | 8/7/2003 | |