How much can a sole practitioner Turnover?

How much can a sole practitioner Turnover?

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Is there an amount a golden figure, a ceiling cap if you like that a sole practitioner could normally be expected to reach, turnover wise. Where he/she could physically cope with the work load? I realise there are going to be exceptions, where someone has managed to reach an exceptional amount but I am just curious what everybody thought?
william123 wood

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By AnonymousUser
21st Sep 2004 13:45

Depends on your work
If you intend operating entirely on your own and you are undertaking book-keeping, VAT Returns and small accounts, you would be lucky to recover any more than £50/hr and remain reasonably competitive. It could be less than depending on the local market. It is all down to arithmetic after that.
e.g £50 x 40hrs/wk x 42 wks/year = £84,000

Remember that you have your own admin to do, CPD to keep you up to date and holidays to take to maintain sanity. Any more than 46wks/yr is too much to be realistic.

The above equation assumes 100% recovery which is also unlikely. I would assume 90% as a reasonable recovery.

If you have a niche market, quality clients, accounts assistants or have proper admin support, then the above all requires to be revisited.

I know of succesful sole trader practices with many staff who turnover in excess of £500,000. The problem is that the individuals work 70hrs/wk plus, hardly take holidays and will probably never live to enjoy the fruits of their labours in retirement!

It's all up to you.

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By Blythe
18th Sep 2004 17:05

No limit
Sole practitioner is an expression that refers to
(a) one person supplying their own time with a turnover of (say) £50,000 to £125,000
and (b)one person running a business with a number of staff both qualified and unqualified with a turnover of (say) £100,000 upwards.
I guess the number of SPs exceeding £500,000 is relatively few but rest assured - they do exist!

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