Finances

Our overheads were calculated with standard outgoing costs.  This included our £399 a month rent at Duke Studios.  It also included software such as the Adobe suite and Microsoft office.  

On an initial salary of £25,000 for the first year- / / £17,127 after national insurance and income tax / / 

The annual income required is £100,000.  This is with the total overhead costs of £17609.05. 

'Using these values, and based on 244 available work days, our minimum daily charge rate as 'Craft' is £482.' 

The plan is to make a profit in the first year to account for various contingency costs.  Our actual daily charge rate is £600. This will provide an annual pre-tax profit of £28,792 and a total net profit of £23,033.60. However, the amount we can charge can be anything above £482.  We have decided that we won't be charging the maximum for every client.  For example, if a charity approached us we would be able to charge a lower rate without losing out.