1. How does the LegaWiz.in business model operate?
As an online business, we offer an inquiry to execution experience on our state-of-art web portal. Our marketing and content teams are primarily tasked to generate qualified leads through various online and offline channels and create content that is relevant to day-to-day challenges faced by small businesses as they relate to legal and compliance matters.
We have a dedicated calling department within the operation team. It is a fully client-facing department where professionals advise current as well as prospective clients who call in. We call this ‘advisors on-call’ where there is no charge, and anyone needing our services can reach out to us.
The other team, along with the network of professional firms nationwide, are for executing client tasks. They keep clients updated with the process and regularly communicate with them. This team carries out the functions that are assigned client-wise, to ensure that each business that we work for, remains compliant with the services they have opted for. Our greatest value add is a dedicated account manager to each service order, who would ensure standard quality of delivery throughout the entire process.
2. What are your products or services, and how much do you charge for your products/services?
Our core services include offering business registration solutions to startups and SMEs, along with other mandatory compliance services. It includes obtaining tax and government registrations like GST, etc. and ensure their regular filings. We also have specialists who advise on intellectual property rights that enable businesses to secure their trademarks registrations, copyrights, and patents.
Besides, we extend our services to providing customized legal document drafting, online
bookkeeping and fulfilling yearly compliance needs for LLPs and Private Limited Companies. Of late, we have added a couple of other services like ISO certification for quality assurance and FSSAI registration for running a food business.
There are no hidden charges, and every service mentioned on the website includes professional fees, GST and government charges. Most of these services have different packages to choose from – to create better flexibility for the kind of businesses that we serve. Users will have the opportunity at the checkout page to check the bifurcation of charges under each package.
3. Tell us about your target audience. How did you acquire its first set of customers/clients?
Our primary target market is startups, small businesses and MSMEs. We identify and relate to an existing gap in the market, where quality services and affordability are two ends that often don’t meet for small businesses.
Our first validation came from market research and asking friends and family about the
challenges they faced related to compliance matters. Our service packages are carefully crafted to address these challenges specifically. The first set of customers came from our heavy involvement in local startup communities. It resulted in being a great trust-building exercise, and initial growth hacked through word-of-mouth. As we now operate at scale, we function as an eCommerce company where great products are marketed through multiple marketing channels with a core focus of reaching out to people who find value in our services.
4. Tell us something about the customer base, traction, and growth since inception.
We are currently a portal attracting about 1 Lac sessions on the site every month, with over 5,000 total paying clients and 30,000+ registrations on the site.
We have doubled the growth every year since our inception in 2015. Last year, we had a
consistent growth of 20% every quarter, which indicates that we are doing things right. Our incredible referral score of 9.6/10 is a testament to how we are confident of sustaining and increasing our growth.
5. Any recent collaborations and new initiatives?
We recently tied up with Instamojo for the online skilling platform MojoVersity. Through this initiative, LegalWiz.in offers courses pertaining to “Legal; Compliance matters simplified for StartUps; SMEs. The “Legal Compliance issues” course is crafted by LegalWiz.in to help businesses and entrepreneurs to proactively think about being compliant and avoid penalties, secure their intellectual properties, obtain appropriate licenses and registrations to operate legally, select appropriate professional service providers, and safeguard business interests through adequate contracts in place.
The nature of the ecosystem needs to be collaborative and synergies need to be built. Hence LegalWiz.in is actively looking to partner with StartUp platforms, Incubation centers,
Entrepreneurship cells at Universities; Think-tanks, branding agencies, SME consultancies, etc… for offering the entire range of it’s services at special rates. In this way, StartUps SMEs can focus on building their business while their compliance requirements are taken care of.
6. Future plans. Do you have any plans to raise funding in the future?
As we become more inclusive as a business model and target to hyper-grow as a full service + software provider, we will be looking for funding options in the near term future, with a vision of becoming the most trusted professional service platform in India.
Shrijay Sheth, Founder, www.LegalWiz.in