How Much Would It Cost to Have a Lawyer Draft a Contract

When you’re running a small business or freelancing, contracts are not just a formality — they’re a vital tool for protecting your interests. Whether you’re a photographer booking clients for shoots, a coach working with high-ticket clients, or a designer creating bespoke work, having a solid contract is crucial for avoiding misunderstandings and legal disputes down the line. But, like many business owners, you may wonder: should you have a lawyer draft a contract for you? How much would that cost and is it feasible?

The good news is that a lawyer-drafted contract or not having a contract are not your only two options. You can also choose to use a contract template (like those from us, The Contract Shop®)or even do a combination of a contract template with minor revisions from a lawyer. And in this blog post, we’re doing to break down the cost of each so that you have a clearer understanding of what your options are, and which one is the best fit for your business.

Just a quick note:Please do your business a favor and do not grab a free template from the internet. This blog post explains why in more detail, but trust us — they almost always cause more issues in the long run and you’ll find yourself wishing you had protected yourself with a custom contract or a contract template.

 

What It Costs to Have a Lawyer Draft a Contract

 

As much as we wish we could give you a straight answer, the cost of having a lawyer draft a contract can vary widely depending on a few factors:

Your Location. Lawyers in larger cities and areas with a higher cost of living generally charge more than those in smaller towns or rural areas.

The Lawyer’s Experience. A more experienced attorney will typically charge more than someone just starting out. 

The Complexity of Your Business. A simple, one-page contract might not cost as much as a complex contract with multiple clauses and conditions. 

Not to mention, that even taking all of these into consideration, giving a simple price is difficult based on the pricing method any given lawyer uses. 

Lawyers Work At An Hourly Rate

Most lawyers charge by the hour, and rates can vary significantly depending on the factors mentioned above. According to the CLIO Trends Report, you can expect to pay anywhere from $200 to $462 per hour for a small business layer to draft your contract. 

For a simple contract, it may take the lawyer a few hours to draft the agreement. For more complex contracts — such as those involving intellectual property, high-risk services, or significant financial sums — it could take longer. Let’s say the contract takes 4-6 hours to draft at $300 per hour. That puts the cost somewhere between $1,200 and $1,800.

Additional Costs for Revisions

It’s also worth considering that the first draft of your contract may not be the final version. If you request changes or realize that something needs to be tweaked, you may be charged extra for revisions, which could add another few hundred dollars to the total cost. When talking to a lawyer, you’ll want to be sure to ask about any and all additional costs that may arise.

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What it Costs to Purchase a Contract Template

 

If spending $1,000 to $2,000 on a lawyer-drafted contract feels out of reach, you aren’t alone. Especially when you need more than one contract. Which is why many small business owners and freelancers turn to contract templatesfrom trusted sources (like us — The Contract Shop®). 

Our templates are all drafted by an attorney, and then peer-reviewed by other attorneys. And, because our founder is a creative herself, all of our contract templates are geared specifically towards creative small businesses, online course creators, and freelancers. 

Not only are our contract templates comprehensive, tailored for specific industries, and written by attorneys, but they are also easily customizable for your business thanks to our legalese-free contracts. We also include our Hold My Hand™ Guideand K Club™ when you purchase a template so that you understand what your contract says and how you can customize it to fit your needs. 

The best part? Almost all of our contracts are between $400 and $600 dollars — a fraction of the price of hiring a lawyer to draft a contract for you. 

 

A Contract Template + Lawyer Review

 

If you’re looking for the best of both worlds — a professionally drafted contract and a lower price point — you might consider purchasing a contract template and then having a lawyer review it. This can be a much more affordable option than having a lawyer draft a contract from scratch, while still ensuring that the document is tailored to your specific needs. 

Because having a lawyer review an existing contract template is generally much quicker than having one drafted from scratch, it’s also generally much cheaper. On average, this process could take 1-2 hours of a lawyer’s time. If we go back to our rate of $300 per hour, that would put the cost somewhere between $300 and $600 for the review and minor revision. 

And if you purchase atemplate from The Contract Shop®, you’ll go into your meeting with your lawyer fully aware of what the contract currently covers thanks to our Hold My Hand Guide™ — saving you time and money with that hourly rate!

So, if you purchase a contract template from The Contract Shop® for $500 and pay a lawyer $450 to review and revise it, you’re looking at a cost of $950 — far less than the $1,200 to $1,800 that you might pay for a fully drafted contract. PLUS, you’ll have a much better understanding of what your contract is actually saying and will be able to communicate that to your clients. A beautiful client experience perk of using one of our contract templates.

When it comes to protecting your business, investing in a well-drafted contract is crucial. While hiring a lawyer to draft your contract from scratch can provide a customized solution, it’s often a significant expense that many small businesses can’t afford. 

Contract templates offer a much more affordable alternative, and those who want extra assurance can have a lawyer review their template for the best of both worlds. 

And if you want to make sure your legal bases are covered from the ground up, snag our free No-Nonsense Checklist to Starting a Business. Even if your business is firmly established, this checklist will make sure that ALL of your legal bases are covered so that you can sleep soundly at night knowing you don’t have to worry about any of the above scenarios.