I'm an ACCA qualified with 15 years of industry roles in Banking, Retail and Pharma. I've never done any technical practice work, other than some very simple book-keeping (more as a favour), simple tax returns and i have some brief training on CT600's. My strengths lie more in budgetting, forecasting, monthly close of accounts, etc bread and butter commercial accounting activities.
I find myself with two small children under the age of 4 considering setting up on my own, which does sound crazy, however the thought of going back into some of the crazy hours and stress of corporate life fill me with dread.
I have made contact with a practice who is willing to provide some mentoring/training, and they do know my plan so they understand where i want to get to. I will also be bringing in an income with some part-time contract work (in industry) as i build my client base. I have a business plan which sees me getting around 30-40 clients per year and with the intention of being on my current salary by the end of year 4 and able to focus solely on my practice. My questions (other than am i mental, should i just stick to what i know) are:
1. are my estimates reasonable?
2. how many clients can one person reasonably deal with - is c.160 ok?
3. has anyone else had success building such a business working from home? Can it work?
Any other tips and advice gratefully received