Revised Figures

Sadies revised figures; 

After meeting with the business manager at Natwest I decided to revise our figures to follow her advice and make them more accurate.
These are the differences I have made-

• We are now using the city car club (car rental) instead of using Kirsty's car.
• We no longer need public liability insurance as we won't be hiring out our equipment.
• We no longer need our own screen printing equipment as we will be using the colleges for the first year.
• We need to pay to register as a limited company.
• We are now hiring an accountant instead of using Sage One.

City car club: £60

Computer rental: £4,288.44

Paper, ink etc: £130.04

Adobe suite: £1,238.40

Business insurance: £30

Professional and product liability insurance: £100

Rent, including bills and Internet: £3,420

Solicitor: £70

Computer repairs: £300

Furniture: £110

We got a quote from Niall's dads accountant and also asked him how much it would cost to register as a limited company. These figures don't include VAT, but as we will be VAT registered we would get this back anyway.

 

Accountant: £850

Register limited: £75

TOTAL: £10,671.88

yearly costings: £10671.88
estimated yearly turnover (based on first 12 months): £90671.88 (earning £20,000 each)
required monthly income: £7555.99

...meaning that collectively we would have to work 76 hrs per month at £100 per hour, which is 19 hours per week.

Charging £25 per hour as individuals we would have to work 302 hours per month between us- 76 hours per week. Which works out as... 19hours per week each.