This is an important decision, perhaps the most important. Your brand should be determined by this choice. In addition to that all the research shows that people who love what they do are the most successful and in fact never have to go the 'work'.
Choosing the area of law that interests you is one of the keys to future success and happiness.
Many lawyers start out and (through financial demands) will do whatever work comes through the door. This is tempting, however, risky and stressful. It is much better to narrow your services and build your expertise.
Specialisation is attractive, but is risky; for example conveyancing is notoriously subject to economic cycles and immigration is always subject to changes in policy.
If you are attracted to legal aid as a means of funding your new practice, you should consider the policy implications – in the democracies with aging populations, the demand for health care is continually growing and that will put increasing pressure on legal aid budgets. You should consider this before hoping to rely on government funding for your firm.
We can't make the decision for you, however, here are the 10 most common areas of practice for small law firms to help you choose:
Conveyancing (Purchase, Sale, Mortgage, Transfer)
Family Law (Children, Matrimonial, Family)
Wills & Estates (Probate, Wills, POA)
Litigation (Crown and High Court)
Immigration and Asylum
Sale and Purchase of Business
Should you decide you wish to practice in multiple areas of law, there are many combinations that when practiced together complement each other. For example:
Conveyancing Wills and POA Probate
When a property is purchased, it can be a great opportunity to recommend that your client purchases a Will. The upsell to a Will could eventually become a Probate matter.
In short, if selecting multiple areas of law, it is a good idea to think about how they may relate to each other to generate additional business.
The great news is you don't need worry if clients come to see you about an area of law that is unfamiliar. A referral network, LawShare, is available for this type of work, allowing you to keep your clients and provide additional services at the same time.