The table below gives an indication of what can be achieved both working from home then running a small practice with staff.
| Sales | £41,600 | Sales | £130,000 | ||
| £41,600 | £130,000 | ||||
| Expenses | Expenses | ||||
| Wages | £ 0 | Wages | £33,280 | ||
| Rent/Rates | £ 0 | Rent/Rates | £8,000 | ||
| Marketing | £2,500 | Marketing | £2,500 | ||
| Stationary/Printing | £200 | Stationary/Printing | £1,000 | ||
| Telephone/IT | £600 | Telephone/IT | £1,300 | ||
| Support and Proffesional Fees | £1400 | Support and Proffesional Fees | £1,400 | ||
| Total Expenses | £4,700 | Total Expenses | £47,480 | ||
| Net Profit | £36,900 | Net Profit | £82,520 | ||
| This is an estimate of what you can earn as a bookkeeper working from home.
Whilst this is achieveable there is no guarantee, the success of your business depends on your efforts and the services that you offer to your clients. The time it will take to build up the business will vary from person to person. |
This is an estimate of what you can earn as a bookkeeper working from an office employing staff.
Whilst this is achieveable there is no guarantee, the success of your business depends on your efforts and the services that you offer to your clients. The time it will take to build up the business will vary from person to person. |
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In addition to your ongoing income, you are building up a business that becomes a valuable asset should you wish to retire and its possible that such practices could sell for 1 to 1.3 times your annual gross fees.
So you are not only getting a good potential income but also building up a viable asset for when you want to plan to exit your business possibly at retrement or moving on to pastures new.