aPerfectPractice Comparison Matrix
(based on a $160,000 practice)
| |
aPerfectPractice |
Build your own |
Buy existing office |
| Cash on hand required |
$12,000 |
$30K-$50k or more? |
$45,000 - $65,000 |
| Monthly debt service |
Zero |
n/a |
$3,000 |
| Monthly Overhead |
$4,600 |
$6,000 - $8,000 |
$6,000 -$8,000 |
| $ needed to operate until profitable |
$0 |
$50,000 - $70,000 |
$0 - $30,000 |
| Projected marketing costs |
$250/month |
$20,000 - $40,000 |
Included |
| Practice management time |
Light |
Medium |
Heavy |
| Marketing system |
Detailed system with support |
No system |
No System |
| Income |
Immediate |
Delayed |
Depands on clients inherited |
| Fee collection activity |
Automated |
Standard |
Standard |
| Type of office |
Virtual/executive suite |
Brick/mortar |
Brick/mortar |
| Operating cost |
Light |
Heavy |
Heavy |
| Tax strategizing |
Fully - advisory support |
No Support |
No Support |
| Work load |
Average 10 - 12 hours per week |
40 - 50 hours per week |
40 - 50 hours per week |
| Client satisfaction |
High |
Unknown |
Must emulate prior owner |
| Average hourly rate |
$300 - $400 |
Unknown |
$150 - $200 or less |
| Billable Hours |
80-100% of work hrs |
Under 60% of work hrs |
Under 60% of work hrs |
