Lower overhead usually means higher profit margins, but many law
firms struggle to contain their overhead costs, from rent and
administrative expenses to supplies and services. The good news is
that you have many avenues to curb overhead from eating into your
profits. Your property leasing and staffing costs are two cost
areas ripest for reduction.
What are you paying for rent?
Just about every successful private law firm you see depicted on
TV is spread out over what seems like acres of square footage.
Thanks to Hollywood, many lawyers and clients have come to see
spacious office suites as signs of success.
However, every dollar a firm spends on rent means a dollar less
of profit. Moreover, technological advances and changing priorities
among younger attorneys—who generally appreciate the
opportunity to work remotely—make it unnecessary for many
firms to occupy as much space as they have in the past. These days,
firm members can easily keep in contact using
