How much would you charge for a business plan?
A new prospect approached me to assist with preparation of multi year financial forecasts and a business plan in respect of a new business venture.
setting up the business will cost several hundred thousands of pounds, for some of which he requires secured bank borrowings.
He is fairly wealthy and not a "dreamer", having been in business before.
Basically he wants a fair bit of input into his business plan, and hand holding in approaching different banks for his new venture to get the best deal on the table.
I got on pretty well with him, and felt I had established some rapport.
After a fair bit of time probing his exact requirements I concluded it would take quite a few hours, so quoted £1,950 for this work. I thought this might be on the tight side, but balanced this against a new client aquisition.
However, when I phoned him to follow up, he said he had another quote for the same work of £350+VAT and would be going with that!!
No way could I have done what is required for that fee. Am I out of synch with other peoples views on this.
- Am I the only one who finds this annoying 728 29
- Directors Loan Account Question 33 2
- Starting your response in the subject line of the form 162 5
- Allowable expenses on retal property 384 12
- VAT "Scheme" 57 2
- Company accounts for £350 391 14
- Employer Paid Travelcard and Maternity Leave 80 2
- Refreshments provided at event: client entertainment or not? 152 3
- question 576 7
- Directors Current Account and dividends 369 22
- Marriage Allowance Transfer 137 6
- Company Limited by Guarantee 169 2
- Property pages or self-employed? 298 7
- wife as partner 126 3
- 10% Wear And Tear Allowance UK Property 116 1
- Identity Checks 223 7
- Running Sage on a Mac 182 3
- Do I need to file a tax return whilst working abroad? 106 1
- Tax on LLP members drawings not covered by future profits 721 28
- How best to split income on a Buy To Let - married. How do you decide beneficial ownership 1,462 15
- Motor Traders Assistant Bookkeeping Programme queries 294
- Continuity of practice-ACCA 274
- Tracesmart/Lexis Nexis AML software? Any opinions? 266
- French ConnectionUK 211
- Fundraising for friend - minimise tax? 198
- Recommended International mobile phone coverage and costs? 195
- Can anyone explain Indian Minimum Alternate Tax 192
- APN's 177
- Penalties for late filing of P11D forms 168
- FRS 101 Software 157