Are you looking for business opportunities in Vancouver? Our company is expanding into the Chinese legal market, and we are looking for investors and business partners. You can see our pitch deck here: ClearWay Law China
We have a more detailed business plan that we can send you if you are interested in our expansion plan. If you are looking for investment opportunities in Canada, reach out to our CEO on Linkedin to learn more.
You have many options when looking for a great opportunity in Vancouver. You might look into food franchises, a convenience store, or commercial property. However, we believe what we are doing is more interesting. Real estate agents always push people into debt, what’s the point? You want to find something that is recession resistant, unlike things like commercial properties or food franchises. We are located in Surrey BC, but we are focused on the market in China.
Fastest-growing legal market | Business opportunities in Vancouver
What we are working on in China is similar to Avvo in the United States. Avvo is a very successful company in the USA, I want to bring something similar to China. Our law firm was profitable, but not scalable. We turned our law firm site into the online marketplace, which is the website that you are on. Our lawyers switched from working for us to our clients. It only took a week to transfer and it was done last month. We now want to do the same thing in China.
We had to rewrite all 500 pages of content when we switched from being a law firm. It’s still not done. We had to change the language and pictures. For example, instead of” hire our law firm to do your agreement” we had to say “contact us if you need a free consultation with a lawyer.”
We spoke to a very successful legal service online marketplace in another country. The key to their success was that it only takes 14 minutes for their lawyers to contact potential clients. This will be key for us as well. It’s all about having automation set up. Right now we do everything manually. People in China are used to receiving quick services over the internet.
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The Russian company’s model was pretty much the same as ours. However, it’s legal in Russia for non-lawyers to take a percentage of the fees.
They take 30% of the legal fees from their lawyers. Law firms are not allowed to share a percentage of legal fees in Canada, but we can do that in China.
We collect leads from our marketing (SEO, Google Ads) from people that are looking for legal services. We connect the lead to two different lawyers and each lawyer pays us $65 each in Canada.
In China, we run advertising on Baidu advertising, Wechat, and also target SEO. We can take 30% of the lawyer’s fees instead of $65, which is much better. For example, on a $10,000 file, we will get paid $3000 instead of $65.
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An online marketplace consists of buyers and sellers. We have lots of sellers, who are the lawyers. We are trying to bring in more buyers now. The lawyers always want more leads to turn into clients.
There are very few unique marketplaces. When a marketplace works, it works really well. There’s a high potential for long-term profits at scale. And once a marketplace achieves liquidity, it’s hard for others to compete.
I could hire a developer to build something that looks and feels like Amazon in the next six months. But I’m too late. Amazon has a massive brand, and could easily out-market and compete with me. We want to be a first-mover in the Chinese legal service market.
Right now there are no successful online marketplaces for legal services in China. There are several in the USA. What makes us unique is that I understand our customers (our lawyers) better than any technology company would. I ran a law firm for many years. I know exactly what customers want. They want to know the process, they want fast communication, and they want affordable prices. That is all they want.
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One thing that we will bring to the Chinese market that is truly unique is the ability for:
1) Every lawyer in China to have a profile on our website. It will include client reviews, a star rating, disciplinary actions, and lawyer-submitted legal guides. This provides people looking for legal services with a new experience. Right now, they have NO idea if a lawyer is good or not. All they can see is what Baidu shows them. But I want to go much deeper than that. This will push bad lawyers out of the market and bring good lawyers to the front. If the lawyer is slow with communication, let’s decrease their star rating.
Let’s send out surveys to their clients that impact their star rating.
2) Tens of thousands of questions answered for free (will improve the lawyer’s ratings as they provide advice). It will be a database of legal information consisting primarily of previously answered questions.
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Our approach to marketing is not random. We use artificial intelligence to calculate the search keywords we should go after.
To provide an example of how we operate in Vancouver and Canada, we saw that “family lawyer Toronto” is a top keyword in Canada. However, it is super competitive. It has 2400 people looking for it per month (the Ai tells me.)
If you look up “common law BC” you will see that we are either in the 1st or 2nd position. This term has 3400 people looking for it per month, even though it’s less competitive.
This term alone brought in 2000 people to our website in the last month.
The term “separation things to consider before moving out” brought in 1500 people to the website in the last month. These are specific terms that only artificial intelligence would be able to find. We are looking to raise $500,000 CAN. This money will be spent on building out technology, and marketing.
If you want to learn more about business opportunities in Vancouver, contact us.
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I have spoken to the director of Telus Ventures and the director of the Legal Innovation Zone. I was told the same things. Marketplaces must be able to raise lots of money and fight battles and make lots of noise. The economies of scale kick in once the marketplace “takes over.”
How does a marketplace take over? A massive marketing budget, winning lawsuits/complaints, and getting lots of PR. There is no money in staying small. If you stay small, you are just waiting for a company to come along and:
1) Hopefully buy you out
2) Crush you
Every successful marketplace gets challenged in a legal way. Avvo, Facebook, Uber, Airbnb, Amazon… It’s all the same. We must have all our “legal stuff” done properly from the start. Our terms and conditions must be perfect. We must have tight contracts with everyone we work with. Please see the pitch deck at the beginning of this article if you are looking for business opportunities in Vancouver.
Look at the video below to learn more about the market.
Author: Alistair Vigier is the CEO of ClearWay Law