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lawyer and accountant online

Ukraine, Kyiv city
Market: Consulting, Services
Stage of the project: Operating business

Date of last change: 25.10.2019
Min investment
$  100.000
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Total required
$ 1.000.000
Rating
equalizer 350 из 1000
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Idea

online marketplace that enables people to get consultations from lawyers and accountants and connect people with specialists

Current Status

The product is fully ready and works in Kiev (Ukraine).
Blogging for the unique product logic (built-in referral system) and marketing, we get an average of 2,000 new users each month.
Considering that the first consultations for clients were free, and only at the second stage there is monetization, the profit is still small at 500 ye per month, but it is growing.

Market

Our client is every person who has a smartphone on the one hand and all lawyers and accountants on the other.

Today, 84 percent of people use useful mobile applications (Uber, OLX, BlaBlaCar, booking, etc.)

The statistics of the Ministry of Justice of Ukraine suggests that now in legal aid centers there are an average of 40 thousand consultations per month, and this despite the fact that people are taken on schedule and people need to spend time on the road.

Our product reached an indicator of 124 consultations in the first month of testing, in the second - 278, growth continues.

Problem or Opportunity

Each person is faced with legal questions, answers to which he does not know (noise in the house, deceit in an online store or supermarket, traffic event, problems with taxes, etc.).
Now there are 3 options to get legal information and help:
1. Search the Internet (for 80% of the questions you will not find the exact answer or the answer will not be correct, due to changes in the law or judicial practice).
2. Call a familiar lawyer (a particular lawyer cannot be a specialist in all areas, a criminal lawyer does not understand anything in corporate law or family law and vice versa, so a familiar lawyer will either give a false answer or not at all).
3. Contact a law firm (this is expensive and takes time to travel to the office).

Lawyers have a problem in finding new clients.
I am the owner of a law firm and clearly understand the costs of marketing (Google, Facebook, Instagram, YouTube, Press, etc.), on average, it is 15-20 US dollars per potential client.

Solution (product or service)

We propose to solve these problems with our product.
The CONSULTANT project is an online marketplace with the help of which every person can, through a mobile application, get consultation and advice from a lawyer or accountant and choose a specialist for a specific task.
In turn, lawyers and accountants receive additional money for consulting and potential clients with minimal costs.

Competitors

ROCKET LAWYER in the USA and Europe.
PRAVOVED.RU in Russia.
There are no strong competitors in Ukraine, there are simply online consultation sites without mobile applications (protocol.ua, freelawyer.ua, b2bconsult.ua)

Advantages or differentiators

Our product itself is simple and intuitive to use. We do not put any unnecessary information, we do not have articles, publics, other people's consultations, etc. The only opportunity to ask a question and get answers.

The simplest registration, which takes 10 seconds. This is one of the most important criteria when promoting a product.

Built-in referral system that allows the product to scale automatically.

The implemented push notification system, which allows you to hold the user and stimulates him to be active.

The unique logic of the robot that automatically selects the most professional lawyers and accountants and removes the weak.

Adapted payment system, which allows you to make automatic payments of money at the click of a button and automatically distribute payment.

The influence of the administrator is minimized, all processes are fully automated.

Finance

We earn on average a commission of 4 euros per consultation.
On the sale of contacts - 6 euros.
In Ukraine, you can reach 72,000 consultations per day, which is 4 * 72K = 288,000 euros per day and 32,000 sales of contacts is 6 * 32K = 192,000 euros per day. The total amount is 480K euros per day.

Business model

CONSULTANT works as a marketplace.

On the one hand, citizens who receive the service through a mobile application (This makes it possible to keep the client by sending push notifications, reminders, ease of use and payment).
Citizens pay by autoscribing money from a bank card for a consultation and for buying the contacts of the particular lawyer or accountant.

On the other hand, lawyers and accountants who use a personal profile on our website (in most cases, a lawyer and accountant works for a computer, because he needs databases and registries).
The lawyer receives a portion of the money that the client paid for the consultation, and if the client wants to call the lawyer for a more detailed consultation or specific assistance, the lawyer pays by autosigning from his bank card for transferring his contacts to the client.

Money will be spent on

We need money exclusively for marketing. The more money we spend on marketing, the faster ours will become more popular and profitable.

Offer for investor

We are ready to give up to 10 percent for 100 thousand dollars. Or another better offer.

Team or Management

Risks

The only risk is competition, I would say duplication of our product.
But, given that we are lawyers, we prepared. All rights to the product and IT codes are patented. The legal protection system is thought out.

Incubation/Acceleration programs accomplishment

Innovating Justice Challenge 2019, Ukraine, 2019

Won the competition and other awards

The project was in the TOP 10 Innovating Justice Challenge 2019: competition in law for legal startups.
The project was selected by the "Association of Independent Business Executive" and received an invitation to the International Conference on Business Development and Strategic Management (ICDSM), Houston, USA on February 4, 2020.

Invention/Patent

Certificate on copyright registration No. 92890 of 10/11/2019

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video