My fees are bespoke.
They're based on three elements: the size and profitability of the business, the complexity of the work, and, to be fully transparent, my keenness to work with a particular business.
Virtually all work is charged on either a fixed fee or monthly retainer basis.
I rarely quote an hourly rate. That's needed only when I'm providing support for M&A (Mergers & Acquisitions), inward equity investment, or sale of the business. In these situations it’s virtually impossible to predict how much of my time will be needed, so I quote £500 per hour + VAT.
Sometimes I meet an entrepreneur who’s keen to work with me (and vice versa), but they can’t afford my fees. Typically their business is at an early stage. If I believe they and their business have exceptional potential, I discount my fees in exchange for an agreement that as the company grows, I reduce the level of discount. It’s a form of ‘sweat equity’.
In some circumstances fees are success-based. I discount my fees in exchange for a share of, for example:
incoming equity investment.
enterprise value on sale of the business.
In all cases the work and fees are co-created through discussion.