As the UK enters a ‘double dip’ recession, Setfords Solicitors has announced it has defied the bleak economy by increasing its annual turnover by 980%, from £250,000 to around £2.8million, since the beginning of 2010.
The company is forecasting a 1500% increase between 2010 and the end of 2013, reaching an expected turnover of £4 million.
The firm believes the secret to this rapid growth lies in its business model, which allows consultants situated anywhere in the country to work autonomously while enjoying the full support of a central admin team.
This admin team takes on the routine duties that often plague modern lawyers, allowing the consultants to invest more time in looking after their clients.
The structure means its consultants earn more than if they were working at a traditional legal firm, while their clients enjoy lower hourly rates.
Since the first ‘satellite solicitor’ joined in 2009, the network has increased to include over 80 lawyers based in locations across the UK, while the support team has grown from two to 16.
Details correct at time of writing.