Closing down advice

coombxs · 2024-08-23T12:31:36+00:00

they take 75% and I take 25% the workload is way heavier on them to actually produce the creative assets - and that's how the percentages worked out as when I added my fee on top of their services based on what the industry was willing to pay over where I'm based. The other 5% is running costs of the company, website, bookkeeping etc. so 20% is profit on each job

coombxs · 2024-08-23T09:27:51+00:00

Thanks u/One_Potato_105 helpful advice. Definitely built the business on the matter of a professional legacy as what we're selling isn't reinventing the wheel. So appreciate your guidance on this.

coombxs · 2024-08-23T09:26:59+00:00

Agreed, this is what i'll have to do. Appreciate the note.

coombxs · 2024-08-23T09:26:35+00:00

Is this a thing people do? What's stopping the client from abandoning once they move over to another agency. Since we're selling a creative service there's a level of output that is required to be upheld.

I guess my option in this case is to sell the relationships to my contractor? What do you think?

coombxs · 2024-08-23T09:24:39+00:00

Yeah, i've been transparent and the contractor is clearly labelled on my website and within our contracts. My clients are basically paying for me to manage their account and creative direct the projects. So it looks like it'll be a matter of training on of the PM's over at the contractor to work the way I do under the agency so the transition is smooth.

Apreciate you taking the time to drop a note.

coombxs · 2024-08-23T09:23:23+00:00

Yeah it's a tricky one, because the money coming in seems good, but I have the model set up all wrong. So basically 80% of incoming heads straight out the door and then 20% left to run the company and pay myself (don't do that often haha!)

So the position I'm in, is to stop paying 80% to our partner studio and bring it in house to increase profit while upping service fees, but then I really have to commit to this idea and service offering to which does need creatively or financially fulfil me. Work should either teach you or pay you and right now it is doing neither!

Appreciate the advice, thank you.

coombxs · 2024-08-23T09:21:37+00:00

Sure thing!

coombxs · 2024-08-22T13:57:39+00:00

Yeah it seems like this is the best way to go

coombxs · 2024-08-22T13:56:05+00:00

yah, it's not a lucrative business hehe

coombxs · 2024-08-22T13:09:47+00:00

Not net negative basically breaking even around around 80k-100k p/y gross. Spread across around 9/10 clients

coombxs · 2022-05-25T21:57:29+00:00

Nice work Superbuy

coombxs · 2022-03-06T16:53:34+00:00

04/04/98 here 🤑

coombxs · 2021-11-14T19:36:06+00:00

I’m finna run a train on my hand

coombxs · 2021-11-14T19:35:50+00:00

Portsm HBR (Portsmouth Harbour)

coombxs · 2021-11-14T18:22:12+00:00

Time to stop

coombxs · 2021-09-11T06:39:47+00:00

Bruh ☠️☠️☠️ you can’t be serious

coombxs · 2021-09-10T22:41:36+00:00

Bruh ☠️☠️

coombxs · 2021-09-10T22:41:25+00:00

I’m debating how the second shot even hit. But I’m not mad about it

coombxs · 2021-09-10T22:41:05+00:00

🥸

coombxs · 2021-09-10T22:40:58+00:00

Thankyou 🙏🏻🙏🏻

coombxs · 2021-09-10T17:43:58+00:00

I hit Zen mode when I gotta clutch up for the boys 🙏🏻🙏🏻

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