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Current services offered by Sorcerer's Accountant include:
Suspects: Free newsletter about small business accounting and bookkeeping techniques, products, and tips.
Prospects: $50 webinar about making the transition from a one-person business to an employer model. This will be held online periodically by Max Greenwood to qualify potential clients who are ready to spend money on a solution for their problem.
Clients: Services include the following categories:
Tax Services: (average project cost - $750)
Management/Cost Accounting Services: (average project cost - $1,000)
QuickBooks Services: (average project cost - $300)
Current services are either provided entirely by Max Greenwood or available through resources on the Sorcerer's Accountant website. Greenwood will provide referrals to credit card processing companies or some speciality consultants when the need calls for it, but focuses his work on general small business services of use to the widest variety of businesses.
Sorcerer's Accountant intends to add the following bookkeeping services:
Premium Clients: This group will spend at least $15,000 per year with Sorcerer's Accountant, making it a significant part of their outsourcing strategy. This may be 10 hours per week of bookkeeping, or a combination of bookkeeping and these other services.
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The pricing for bookkeeping services are set at $30 per hour. Bookkeeping services incur a 50% cost of sales as the bookkeepers are paid at $15 per hour. Clients would pay $20 -$25 per hour, once benefits and taxes are factored in, for an in-house part-time bookkeeper, and would still be responsible for training, oversight, and management in that case. Sorcerer's Accountant's rate is very economical once this is taken into account.
Direct competitors' rates, with professional help, are set at $40 per hour and up. Competitors that offer rates at $30 per hour or lower are not providing the same level of training and oversight and the quality difference is apparent.
To entice new clients, three hours of orientation/on-site training time is covered by Sorcerer's Accountant to allow for the bookkeepers to become acclimated and to document the procedures and organization of the client's office. This reduces the switching cost for clients and their fear that they will be spending a great deal on the transition alone. Sorcerer's Accountant is not interested in making money off of the transition, but wants to serve the clients for the long-run with their ongoing bookkeeping.
Direct services by Max Greenwood, CPA, are priced at $75 per hour. This is average for CPA services for small businesses. An hour of free consultation is offered to give a sample of the level of service and advice they can receive.
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