While this profession was extremely compartmentalized and regulated to the extreme, the Macron law wanted to unlock this entire system and allow young notaries leaving school to set up on their own and thus allow the creation of new offices. Especially in rural areas where an administrative desert is tending to loom; at the same time the medical desert is already well advanced. The profession of notary was very often a “family” profession, where one inherited the office from one’s father or mother. Maître Frédéric Ducourau understands the difficulty at the time of being able to buy a practice without having a social network.
From now on, it was possible to settle down and to be able to apply the 9 studies necessary to obtain the notary diploma. The choice comes and the time comes to ask the right questions: which legal status to choose? How do you put together your file for the bank? How to make a good business plan? Which location to choose? How to be well equipped? Opening a pharmacy can be compared to setting up a business. You have to make the right decisions and above all think that building a clientele is not an easy thing to do.
Which legal structure should I choose?
Before filing your articles of association, it is important to ask yourself the right questions and, above all, to find out about all the possibilities and solutions available to you. Here are the questions you should ask yourself:
- What consequences will this choice have in terms of social and tax status?
- Is it possible to change my choice or is it reversible?
- Is it possible to become a partner and what should I do if so?
You therefore have several options available to you, such as the individual exercise, the liberal exercise company, or the commercial company. It is essential to compare the advantages and disadvantages of each structure. Once you have made this choice, you will have to complete the formalities for declaring your business as a company in order to be able to give your company legal existence. All these formalities are carried out at the Business Formalities Centre (CFE), which you will depend on.
In terms of social responsibilities, all notaires are members of the professional civil liability insurance policy which is taken out by the Conseil supérieur de la profession. Notaires must pay annual contributions to the regional guarantee fund, which enables their clients to be insured by the entire professional body in the event of professional misconduct.
How to draw up a business plan?
Like any company or business, a notary’s office must earn money to live and, above all, to survive. The establishment or the realization of a financial file or “business plan” solid and well detailed. The latter must present in a few pages all the financial forecasts of the study for the first years of activity. It must mark and show the growth curve that you hope to have during the first 5 years minimum. This will allow you to judge the feasibility of your project and especially to estimate its profitability in the short and medium term.
You can ask yourself the following questions to help you in the drafting of this file:
- How many acts must be carried out in the first year?
- How to estimate the costs and not omit any?
- How much should my working capital be?
Where should I open the dispensary?
It is not easy to choose a good location. The business plan and an in-depth market study can help you make your choice and not make a mistake. It is obvious that it is always possible to evaluate and make the wrong choice. Avoid finding yourself next to a competitor that has been established for a long time in a small area. See where the administrative areas are starting to take shape and analyse whether this situation would be favourable for you. You should therefore think about 3 points:
- Which location to choose? Should it be on the ground floor or upstairs?
- Which area should I select?
- Is it better for me to be an owner or a tenant?
It is sometimes a good idea to call on agencies specialized in this sector. You can’t master all the knowledge and skills.
How can I be well equipped and plan for future hires?
The days when everything was done by hand or with a typewriter are long gone. From now on you have to rely on electronics and high tech to run a notary’s office. A lot of software has been created to facilitate the various tasks of notaries. Deed writing software is the first useful and indispensable purchase for any new office. It is essential for the smooth running of the whole activity. With the digitalization of notarial deeds, it is necessary to think of the notary 2.0 and start the digital transition of your activity. It is necessary to stay connected to society and especially if your office is brand new. This will allow you to stand out from your competitors.
You will also have to plan for the hiring of your first employee. You do not necessarily have the necessary human resources skills and this will make your decision difficult. You must first think about the organization of your office and the distribution of tasks for each person. Ask yourself the following questions:
- What level of experience should my employee have?
- When should I hire? At the beginning to get my office up and running more quickly or wait until there is a higher turnover?
The profession of notary is a profession in full transformation as Maître Frédéric DUCOURAU has observed. It is important that the service provided by this administrative body is not cut off in certain remote areas of the country. Access to basic public services for everyone is a major challenge for the public authorities. Desert, medical and administrative deserts must be avoided at all costs.
