Our goal is to take this consulting offering to the masses and hence we keep unimaginably low consulting rates from which rates begin. Our consulting rates for readymade plans are decided by a process of private bidding with a limited number of investors in which the best bids win.
Factors which determine consulting rates (esp for those who wish to invest in their own business) are:
– Amount business owners are expected to put in over time and whether as loan or equity
– Talent and experience of our consultants involved
– Quantum of performance based incentives granted to us
– Monthly consulting budget agreed
– Annual increase rate of consulting budget (e.g. national average of salary increases)
– Duration of contract
– Demand of Consultant’s time from other clients
For those who start by themselves, consulting rates and budgets are negotiated with each individual in person. We ensure even those who wish to start a very small businesses can afford us and get value. It is clients who decide how much they wish to spend per month and how many hours of consulting they need on average in this case. The consultants have different consulting rates depending on seniority, experience and talent. They can choose the consultant or combination of consultants they want at various seniority levels in their business. The consulting rates of junior most consultants start at INR 350 per hour and can go upto USD 1,200 per hour for senior most, most talented and experienced consultants working on high value projects where such high rates are justified by the demand for their time from other clients. This means a person wishing to start a very small business by themselves can get a junior consultant manage the business and its employees for 2 hours per day for the entire month at just INR 14,000 (350*20 days*2 hours) (plus GST). Any consulting rate including and between the two amounts mentioned above can be suitable for any business depending on the above mentioned factors and are indicative only. Above mentioned factors such as annual increases, quantum of performance based incentives, amount of money a person is willing to put in the business over time and duration of contract matter.
All costs are included in the hourly rates, leaves are not charged and only time actually spent working for clients is charged.
We understand timesheets are usually used in operational environment but we sincerely believe that timesheets are a great tool to maintain accountability even for the kind of consulting work our consultants do.
Our Clients/Partners are given client login access to a particular timesheet software. Whenever a consultant works for the client on his laptop, he initiates the timer. Screenshots are randomly taken every 3 minutes and stored in the software. Clients can access screenshots taken of the consultant’s laptop screen. If the consultant stops making keyboard strokes or mouse scrolls for more than 2 minutes, the timer stops automatically. Notes are made to justify the time spent. Even the senior most consultants are accountable!
However, we understand a lot of work will involve interacting with people and conducting meetings, which cannot be recorded on a timesheet software. Offline entries are made along with notes against each entry to justify the time spent.
For businesses which require corporate setup and to be close and proximate to the businesses we consult on an ongoing basis, we also provide an “At-Cost" office space at rates 75% cheaper compared to serviced office providers (who charge 3X-4X of actual rental costs) which helps you save several lakhs annually if your business will have just 1 or 2 employees at start. Usually, renting out a small office space results in costs shooting up as even a small space can accommodate several employees whereas your business may need space for just 1 or 2 employees. We show office lease agreements to clients and monthly rent of the office is divided by the number of people which that specific office can accommodate irrespective of how many people currently occupy the office space. A small 5-10% loading might be applied to cover administrative and operational costs of managing the office based on actual costs incurred. The total rent per employee per month for clients along with other administrative expenses can usually end up being Rs 4000/- in a prime location like BKC and as low as Rs 2000 per person per month in a non – prime Mumbai location. (Are you located outside Mumbai? Contact us as we are expanding outside Mumbai based on client requirements). Statutory taxes applicable shall be extra.
Rental costs apply only for client’s corporate employees on client’s payroll and shared service staff and not for consulting services.
Full time employees are always hired on client payroll to avoid unnecessary GST charges. However, it can be very difficult to find part time resources at low costs. Hence we offer “At-Cost” shared services for clients who need part-time resources for basic activities like accounting, administration, operations etc and maintain a separate shared services entity to account for them. For example, if three of our clients need a accounting and administrative assistant on a part time basis, a full time resource is hired by the shared service entity and shared by the 3 clients. The companies usually pay labor cost + fixed overheads. The overheads are those which the company themselves would have incurred if the resource would have been hired by themselves. This involves showing proofs to clients of actual labor costs. However, clients do incur a GST charge. If sourced externally, such resources may cost 2X to 10X their labor costs.