What's the investment costand what's the profit potential?
Offer services which deliver 70% gross margin to your business
All of the legal documents that you produce via Will and Probate Service will deliver a 70% gross margin. You have no admin to worry about, no print costs, no software costs, no compliance overhead, no additional staff costs and no cost of acquisition because you already have a client base that need the new services you will be offering. Below is a breakdown of each service you could offer and the attainable profit margins:
| Single Wills | £165.83 | £49.75 | £116.08 |
| Single Will with Trust | £249.17 | £74.75 | £174.42 |
| Standard Double Will | £249.17 | £74.75 | £174.42 |
| Double Wills with Trust | £437.50 | £131.25 | £306.25 |
| Lasting Powers of Attorney - Single | £208.33 | £62.50 | £145.83 |
| Lasting Powers of Attorney - Double | £333.33 | £100.00 | £233.33 |
| Business Property Trust | £500.00 | £150.00 | £350.00 |
A typical scenario for income generation
Andy, an accountant with whom we already have a partnership, met with two of his clients Richard and Samantha to discuss their end of year tax affairs. During the conversation Richard mentioned that the couple had married last year and wondered what implications that had for their tax position and whether there was an opportunity to pass shares in his company to his new wife to minimise tax. Andy immediately realised that the couple needed new Wills – their marriage had revoked the previous documents – and took the opportunity to talk to them about lasting powers of attorney.
Having had a business relationship for over 10 years, Richard readily agreed to Andy’s suggestions and new Wills and LPA’s. This meant that on top of his fees for the accountancy advice he generated an additional income for his practice of £1,268.75. Richard was delighted, because the cost of the planning was paid by his company, so it came from pre-tax income.
Your Investment
The financial commitment for a Will and Probate Services Pro franchise is £4,500 plus VAT. Below shows a full description of the time allowance you also need to make and what you will receive in return.
Time
Your initial commitment is to a three-day training course at our head office. In addition, we will ask you to find 20 hours per year for continuing professional development.
Client facing meetings will require an additional 30-90 minutes depending on the service being provided to the client.
Marketing
Our services bolt on to your existing marketing and brand. All we ask is you use our ‘Powered by Will and Probate Services’ logo on all material and brand assets which advertise our partnership services. Tailored marketing packages covering digital, social media and print are available at an extra cost to the base franchise package, please ask about our bespoke marketing packages.
We Provide
- Initial training for up to two staff members
- Access to the Will and Probate Intranet and knowledge base
- Will and Probate email addresses
- The right to use ‘Powered by Will and Probate Services’ as well as our trademarked logos
- Full support helpline
- Dedicated franchise page on our website
So what do I get
for my investment?
When you invest in a Will and Probate Services Pro legal franchise it is important that you are getting value for the investment you are making. We give you the training and support to hit the ground running.
So what do I get for my investment?
When you invest in a Will and Probate Services legal franchise it is important that you are getting value for the investment you are making. We give you the training and marketing to hit the ground running.