Building Stronger Businesses
PRICING MODELS
Legal Reach is able to offer a range of different pricing models and approaches, tailored to your specific requirements.
These range from undertaking an identified specific programme of work under a fixed price agreement, to ongoing retained arrangements through which you ‘purchase’ a number of agreed weekly hours.
We are also able to offer a white-labelled outsourced management service through which we operate under the brand and identity of your business and, in essence, become part of your senior management team.
The different options are set out in the table. However, as the approach is totally flexible, it is open to discussion. The ultimate aim is to ensure that we find a solution that works for you, and enables you and your law firm to achieve value through any partnership.
| OPTION | MODEL | SOME MORE DETAIL |
|---|---|---|
|
Option1 |
Day |
A day rate is agreed. This approach is useful if you want to retain the services and experience of Legal Reach for a specific day and/or short period/activity (ie such as leading a business planning strategy day). |
|
Option 2 |
Fixed |
A fixed price is calculated based on the delivery period. Under this approach, the number of hours per week will flex depending on the delivery requirements of the programme. For this to be successful, a clear set of outcomes/deliverables need to be established and agreed before a fixed price can be calculated. |
|
Option 3 |
Capped |
A set number of hrs is agreed per week at the outset and a number of clear objectives established with an estimated timeline for delivery. The number of hours will depend on the programme of work and the agreed delivery schedule. Under this model, the capped fee is based on a number of minimum hours that will be committed each week. Any time above the minimum number of hrs committed will not be charged. |
|
Option 4 |
Retained |
Similar to Option 3 but no estimated timeline for delivery is agreed. In essence this option gives greater flexibility and enables Legal Reach to move from one programme to another without having to realign pricing. Clear objectives and delivery KPIs are still required. As with Option 3, under this model, the fee is based on a number of minimum hours that will be committed each week. Any time above the minimum number of hrs committed will not be charged
Should it be required, the retained option also enables Legal Reach to operate as a white labelled outsourced part of your law firm, in essence becoming part of the management team.
|
|
Option 5 |
Hybrid |
Through this option, it is possible to embrace a number of the above different options or tailor for your specific benefits. For example, it is possible to retain Legal Reach for an initial period under a ‘Fixed’ or ‘Capped’ option and, subject to the outcome, to move into a retained arrangement at a later date. This in essence allows law firms to sample the service and enable the partnership to grow over a period of time. |
|
Option 6 |
Success & Reward |
This option rewards Legal Reach for success. Under this option, a retained option is agreed but on a reduced rate which is offset by a share in any new business. This option is usually considered once the partnership has been in place for a period of time. |
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