Bicester dad used redundancy pay to launch his own law firm
An employment law solicitor from Bicester turned his redundancy package into a fast-growing business.
Roy Magara, founder and director of Magara Law, found himself at a crossroads after being laid off from his role at a law firm during the midst of the COVID-19 pandemic in August 2020.
Instead of hunting for another job, he used his redundancy payout as the initial investment into the business, covering his staggering startup costs and ultimately getting his new venture off the ground.
Roy said: “Magara Law was born with the intention of moving away from the legal firm's institutional and cold-hearted stereotype. Instead, the firm follows a customer-centric approach which puts the client's best interests at the core.
“Starting up in the thick of lockdown was a risky move in the eyes of many friends and family, but it was actually a time when excellent customer care was most in need. With redundancies, furloughing and the shift to remote working, employment was in a state of flux and, as a new business, I was able to be agile when handling individual circumstances and ever-changing policies.”
Magara Law set up at Perch Coworking in Elmsbrook, a collaborative enterprise hub offering coworking, business support and office space hire. The firm doubled its forecasted turnover in the first quarter and went on to quadruple its revenue within the first few years.
Less than four years later, Perch is now one of four offices occupied by the business after it expanded into London, Reading and Banbury, with more than 1,000 clients supported since it was founded. Roy has also gone from a solo entrepreneur to a leader of a team of five, whose collective efforts to achieve positive results for clients have so far earned the company three business and law awards and a further four nominations.
Roy said: “When I was made redundant, I never imagined that it would have been the start of something so profoundly positive. Running my own firm and taking ownership over how I support my clients has been enormously rewarding, and, looking back, redundancy gave me the push I needed to find that fulfilment from my career.
“I’m now eagerly looking forward to the future of Magara Law, continuing to give our clients the support they deserve, and focusing on enriching employers with the guidance they need to foster a happy workforce.”
Perch Coworking is operated by business support specialist Town Square Spaces Ltd (TownSq), which has a growing network of coworking and enterprise hubs across England and Wales.
Lucy Wendon, Community Manager at Perch, said: “The growth of Magara Law over the last few years has been incredible and is a testament to the passion, talent and hard work of Roy and his team. Roy’s courageous decision to pivot from his situation, follow his ambitions and succeed as an entrepreneur has been inspiring to witness and makes him a perfect fit for the small business community at Perch.”
