Service Income Analysis Form
By Bert Shlensky, PhD
Part of the Startup Connection Business Library
Copyright © 2014 by Bert Shlensky, PhD All Rights Reserved.
Service Income Analysis Table Directions
Unlike retail or product companies, service companies are limited by time. This involves both evaluating your income potential and your need for other associates. This template allows you to simply compare and estimate the earnings potential of one provider under different circumstances. It shows the following variables:
- Hours available per year which can be modified. We used 48 weeks at 38 hours per week , 5 days per week which totals 1824
- Average hourly fees after discounts, allowances, or quantity
- Percentage of time spent actually working. You must estimate down time, administrative time, selling time,
The Chart shows income before other expenses for a variety of expenses. It also allows for comparing differences in fees, or actual billable percentages .
For example, if you charge $50 per hour, and work 50% of the time, you will earn $45,600 per year. However, if you increase your marketing and work 70% of the time, you would earn over $63,000. Or, if you charged $ 40 per hour and worked 70% of the time, you would earn $51,000. Thus, this tool allows you to calculate both income and the potential outcome of different strategies. Also, remember, you will have some non-billable hours for administration, selling, and off-hours.
Please Download this Excel Spreadsheet as part of this lesson:
Contact Bert at (914) 632-6977 or firstname.lastname@example.org to start the process. Thanks!