I have been selling and valuing legal practices for 15 years. During that time I have analysed the financial statements of literally hundreds of firms. When someone asks me questions such as how much rent should I be paying? How much should I pay my staff? What is a reasonable level of earnings? I can usually respond without too much difficulty. For example, how much can I afford in occupancy costs? I will answer that the most common range is 5% to 10% of revenue per annum. Therefore, if your annual revenue is $400K then, according to these percentages, occupancy costs would be $20K to $40K per annum. There are nuances to this. Outside of metropolitan areas it would usually be 5% or les
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