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Earning Potential

Franchise Projected Profit and Loss Account (Certax Full Accountants & Qualified Accountants Packages only)

Home Based Practice

Office Based Practice

Office Based Practice

 

Early Stages

Established

£

£

£

Sales

60,000

125,000

250,000

Less:

Overheads:

Rent, rates, light & heat

-

4,000

17,750

Marketing costs

3,600

5,000

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

14,965
______

66,340
______

163,750
______

Net Profit

45,035
______

58,660
______

86,250
______

Estimated value of business belonging to franchisee

60,000
______

125,000
______

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.

Earning Potential

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