One of the questions Accountants don’t like hearing, when approached by a prospective new client, is “How much do you charge?”
All too often the question is asked, too early, out of context, and before you’ve established exactly what accountancy and related services you will be providing. And yet, if you blow the answer, your prospect is gone.
Keep in mind that many people have no idea how else to start a conversation with an accountant other than asking about fees. It doesn’t always mean this is all they care about and that they simply want to find the cheapest accountant around.
Too often we worry about how to transition from one question to another, or we remember the childhood rule that when someone asks you a question, you have to answer it. This is not a rule for adults in business.
Here then are the 25 great answers to the question: “How Much Do You Charge?”
- I’d love to answer that but I can’t yet because I don’t know exactly what help and support you need. Can I just check some things with you first and then I’ll be able to quote you a fee.
- I’ll answer your question in a moment but to give you a more accurate answer, may I ask you three questions first?
- It depends on exactly what you need. I have learned not to assume that every client wants or needs exactly the same services. Let’s run through a few things that experience has taught me I need to clarify before I can quote a fair fee.
- Well, the friends and family rate might apply but we’re not friends yet – do you mind if I ask you a few friendly questions that will help me understand exactly what you need, before I determine what the fee will be?
- It could be over a million until I know exactly what services you need. Can we spend a few minutes narrowing things down to help us get down to a more realistic figure?
- I have good news and I have bad news. The good news is that you don’t have a half million pound problem. The bad news is that you don’t have a £10,000 problem, either… If you can help me answer some key questions, we’ll both know a lot more about what your investment might look like.
- Unlike some other accountants I don’t charge standard fees as my clients receive a personalised service. And that means a personalised fee too. Let’s see what you really need and then you can decide if you can afford me.
- If it works, it’s cheap. If it doesn’t, it’s expensive. What’s it worth to you?
- Tell you what. Let me check a few points with you and then I’ll be able to give you a rough idea – a range of fees. If that’s ok we can then check some more details so that I can give you a specific quote.
- Let’s talk about what you’re trying to accomplish first and then we can get to what you’ll need to invest to get what you want.
- I’d love to find out more about your company first so that I can give you an accurate quote that covers everything you’ll need. Would you like to set up a time to talk?
- Most of my clients are paying something between £60 and £250 a month for the sort of services I think you’re going to want. Some pay more. Few pay less. How does that compare with your budget?
- I don’t know. Let’s talk about your objectives and what you really need from me first.
- Before we discuss fees can you help me get a better idea of what you’re looking to achieve? That will also enable me to work through exactly what services you’ll need and how much contact and meetings are likely to be required.
- Moving to a more proactive accountant like me only makes sense if it’s already in your budget. None of my clients woke up one day and suddenly found the money to invest in more commercial accountancy and business support. If you can share the budget range you have set aside for this, I can tell you if it makes sense for us to talk any further.
- I have a feeling that if I quote a random number right now, I’ll be dead in the water. Do you mind if I ask you some questions to get a better idea of what your goals are? Then the numbers we talk about will be specific to you and your situation.
- There’s no good answer to that question in a vacuum. Can we talk a little more about what you’re hoping I can do for you? Then I’ll give you some fee options that make sense for your budget.
- Smile and hesitate and then say: That’s the best part! Review the benefits and intended results and then say: You get all that for X. Now smile again. THEN say: When do you want your monthly direct debit to start?
- Just like you need to make an educated decision about which accountant to appoint, I need to give you an educated answer to your question about my fees. But I don’t know enough about what you need or your circumstances to quote a fee yet. Do you mind if we have a 10-minute conversation about your situation? After that, I’ll have a much better idea of what you’re after and some different ways we can help.
- Sounds like price is the most important factor to you. In my experience, everything is expensive until you want it. Can we talk about what you want and then work our way to the pricing options based on that?
- It’s going to cost you more than a cab ride to [local landmark, e.g.: The London Eye”] but less than what it cost to build [the landmark, e.g. “The London Eye””]. If we can chat for 10 minutes about why you called, I can give you a much more specific answer. Do you have 10 minutes now or shall we book a time later in the week?
- Until I have a better idea of what you want – and whether or not we can even help – any number I give you is going to be too high. Would it be OK if we spend a few minutes discussing why you called? Then if we can help, I’ll get you the pricing options you need. And if we can’t, I’ll refer you to some other great resources that do things we don’t. Fair enough?
- If my fee is your primary concern then I may not be the accountant for you. Can you help me understand why you’re looking for a (new) accountant and what difference it will make to you if you choose the right one?
- That’s the best part. Unlike many other accountants who only [do part of the job] we also ensure you [get more value]. And yet the total monthly fee you’ll pay is less than you would pay those other accountants. It’s typically between £xxx [the lowest fee you would ever charge such a client] and £zzz [the highest such fee].
- At this stage I can simply tell you that I’m not the cheapest accountant around, nor the most expensive. If you’re looking for the cheapest service regardless of experience, expertise and advice maybe I should save us both some time and let you choose someone cheap.
Clearly the next part of the conversation is also crucial, as is the way you present your fee, any caveats and conditions you want to apply, your payment terms, and your fee review process.