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The Founder
|
Franchisee Projected Profit
& Loss Account
|
Home Based Practice |
Office Based Practice |
Office Based Practice |
|
£ |
£ |
|
| Sales |
55,000 |
120,000 |
250,000 |
| Less: |
|
|
|
| Overheads: |
|
|
|
| Rent, rates, light & heat |
- |
4,000 |
17,750 |
| Marketing costs |
3,000 |
3,000 |
5,000 |
| Wages |
- |
36,000 |
87,000 |
| Computer sundries |
600 |
1,100 |
2,000 |
| Repairs & renewals |
- |
1,000 |
2,000 |
| Postage & stationery |
2,500 |
3,500 |
17,000 |
| Motor expenses |
1,200 |
2,500 |
9,000 |
| Telephone |
800 |
1,200 |
3,000 |
| Management service fee |
4,675 |
10,000 |
14,500 |
| Sundries |
750 |
1,200 |
5,000 |
| Bank interest |
480 |
480 |
- |
| Bank charges |
360
______ |
360
______ |
1,500
______ |
| Total costs |
14,365
______ |
64,340
______ |
163,750
______ |
| Net Profit |
40,635
______ |
55,660
______ |
86,250
______ |
| Estimated value of business belonging to franchisee |
55,000
______ |
120,000
______ |
250,000
______ |
These figures are by way of illustration only and whilst no
guarantee can be given that these will be attained, it is our
opinion that they represent realistic and achievable results.
Generally, Accountancy Practices are valued at one times gross
recurring fees (GRF), but the final value usually takes into
account any client losses during the first year after takeover.
The length of time it will take to achieve the above results
will vary and depend upon the aspirations of each individual
Franchisee.
The home base practice figures are, we feel, the maximum that
can be achieved using your home as an office.
The office based practice would be necessary for those who
wish to take their practice to the next level of profitability.
The office based example shown would be achievable within
three years and turnover could be increased further with additional
staff.
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