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.
- Networking 243 3
- Are you going to Tick and Bash on 21 May? 1,188 33
- VAT refund 240 2
- Bank Interest Held by Solicitor During Divorce 238 2
- US company hiring UK citizens in UK 273 4
- Corrupt excel .XLSX file 75 1
- incorrect old p60 492 13
- What VAT to reclaim on van purchased on HP? 312 5
- Professional coaching claimable? 207 2
- Turnover on a tax return 397 9
- IT Contractor 269 1
- Sage instant account codes 156 1
- Mobile phones, directors of micro-companies 251 1
- Cashflow forecasting software 320 4
- Letter to HMRC over 3 months ago, still no reply 1,957 19
- Companies House paper incorporation - date of birth omission 323 4
- Is there an AIA calculator anywhere 293 1
- Reclaiming VAT on refurbishment cost? 284 3
- Missing tax return 412 4
- Inflation and fees 1,428 24