I am currently working as a lawyer in the UK and rather fed up of UK life and want to move back home. I am considering my options and one option is to start up my own practice. Since I don't really have contacts in Nigeria I would probably have to take someone on with me as partner with me contributing the capital and the person contributing the contacts and split profits on a fair basis reflecting how much we have each contributed (me money, the partner contacts).

Does anyone know roughly much capital I would require to start up the firm? My mum has kindly offered me a flat in VI to use as office so don't need to worry about what would I expect would have been the main cost. I would guess would probably need to take on one or two very junior lawyers and a secretary and pay for computer equipment (but I can get those very cheap from here in the UK), website and email hosting and online subscriptions to sources of legal information.

A very rough estimate would be gratefully appreciated.

Does anyone know roughly much capital I would require to start up the firm?

I don't think starting up a law firm will be different setting up any professional services firm in Nigeria. Amount of capital? That will depend on what you're looking to do and at what scale you're looking to operate. It is not a problem a business plan and cash flow forecast will not do. I will expect your main start-up cost be business equipment and office running cost. I won't suggest hiring junior lawyers when you're starting out unless you're sure they'll be busy or they be bringing jobs with them (very unlikely unless they are partners). You'll probably need a secretary and/or a law clerk (for run around).

You need figures not stories. Here we go:

Start-up capital costs.

Office furniture – N500,000 (depends on your taste, the image you’re projecting and where you’re buying )
Office equipment (computers, copiers, printers, scanners, etc) – N1, 000,000 (this can be adapted to fit your resource constraints)
Premises rental - (though your mum is providing this, but it is still an equity contribution)

Start-up expense
Company registration - N12, 000 (I think)

Recurrent expense (1 year)
Salaries (yourself (100k this might be modest) one secretary (40k/m) and one clerk (25k/m)) – N1, 980,000
What else am I missing?

I think this will likely be your main equity requirements and also a rough guide of what you’ll need to make in a year to be viable. Your family and family friends and their friends can be your initial source of contact.

Avenir hav said it all, i align myself completely with his quotation , wishing u all the best, how ever if u want to regiater your firm i can do it for u, u dont need to travel down, we will deploy our IT inteligence.

hybridsolicitor@ yahoo.com

Hello Boyson,

If you are seriously thinking of a partnership, maybe we should talk. i've been in practice here in Nigeria for three years now and am thinking of starting on my own (the reason i googled and was directed here). i was privileged to be working with one of the leading Law Firms in Nigeria. i have a couple of contacts we can liverage on, a growing library and a sizeable experience. most importantly, i have developed a business plan that covers all your inquiries. Please contact me on buisilyfe@yahoo.co.uk if you intend to do business.

Regards

@boyson and buisilyfe -goodluck chaps. I'm a Solicitor too.

@OP: Why you wan kum back broda?

Nezan:

@OP: Why you wan kum back broda?

Are you dumb? He said he is tired of too much tax, little space in name of a room and the pretence -that - everything- is- fine- out -there. He wants to come back to Nigeria where things will be better

_{Cant imagine living abroad unless a visit and a special purpose as usual}

@boyson, the only thing I want to tell you is that you can make it in Nigeria. You've seen how law is practised in Britain and you've lived in the country for a while. Don't be scared of the harsh Nigerian environment which you can conquer and master. You can always visit Britain and take holidays there. There is nowhere like home. We all have to pitch in and rebuild Nigeria. Cheers.

Poster

Why exactly are you 'tired' of living/practising law in england?

As for going down to Nigeria to set up a legal practice, you really need to spend a few months in the country doing a thorough market survey thereby determining whether your proposed business model is commercially viable. Nobody can do that for you here.

To be honest, as a lawyer, premises should be the least of your concerns.

i agree completely with tensor, the least of your problems is ofice premises or furniture. The important thing , is how do you get briefs that would sustain you. It is important to consider that as this would determine if you would earn a living as it would make no sense to have a well furnished office without having clients. Mind you as a lawyer, i have come to realise that clients dont brief you becos of your sign board or how cosy your office is.

Why has nobody asked if he has been called to the nigeria bar cos i think that should be the first tin, then for contacts just come into nigeria contacts will come , but i must warn you my learned friend, be careful in your quest for someone with contacts and also, na lagos you dey come so you need the street wisdom as well. Ciao,

I completely concur with position that before you can own or practice as a solicitor in Nigeria, you need to be enrolled in the supreme court. Any solicitor that carries on with a person that is not on the roll is liable to be punished and you may be guilty of impersonation. Goodluck to you if you've been called. Assuming that you've been called, the next thing to ponder on is our to get clients who will pay your bill. Believe me, you don't want to provide the funds and rely on your partner's client and expertise to build your firm. With a cunning partner, you may be heading for the rock when there is a rift between the two (or more) of you. You will wake up to see that you have the office but the briefs are all flying in the wind to a new office where your erstwhile partner now occupies.Be careful because I have seen a lot of firms end up in courts and arbitration.

I just came across this interesting post and a reply I sent a while back (haven't been on this forum for years) Anyway, by way of an update, I have since set-out on my own.. Have a thriving legal practice at Allen, Ikeja Lagos... Being at it since 2010 and its been fantastic and getting more interesting. The client's were not really there at the onset, even the contacts I thought I had were disappointing but things are taking shape now and I am loving it all the way..

Thought I should post this as an update for those would be ventures out there and also wondering what has become of @Boyson who started it all.

Cheers

Ndubuisi

Nice update!...

buisilyfe: I just came across this interesting post and a reply I sent a while back (haven't been on this forum for years) Anyway, by way of an update, I have since set-out on my own.. Have a thriving legal practice at Allen, Ikeja Lagos... Being at it since 2010 and its been fantastic and getting more interesting. The client's were not really there at the onset, even the contacts I thought I had were disappointing but things are taking shape now and I am loving it all the way..

Thought I should post this as an update for those would be ventures out there and also wondering what has become of @Boyson who started it all.

Cheers

Ndubuisi

congrats! you took a bold move that has paid off. very well done!

Ndubisi, this is ridiculous - a lawyer that can't spell. Your clients must all be illiterate or plain stupid. O ma se o.

I know this is an old thread but I stumbled upon it while searching for something on Google.

Law Firms in Lagos Island Nigeria - Streamsowers & Kohn's | Pre-eminent law firm in Nigeria acting institutionally in advancing the interests of our clients.

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