Continued Profit Payment Plan
As a sole proprietor, your clients rely upon your personal expertise and trust the quality of your work. owever, when the time comes to close your business, it can be challenging to ensure that your clients will remain with a new translation agency. For this reason, you may not be able to make a profit from the closure of your business. That’s where our Continued Profit Payment Plan comes into play.
Our Continued Profit Payment Plan is designed to facilitate the transfer of your clients to a new translation agency, while ensuring that you receive a fair and decent profit for your years of hard work and dedication to the industry.
Regardless of the type or size of your business.
And the best part? There is no obligation to proceed, allowing you to thoroughly evaluate your options and determine if this proposal is suitable for your business and meets your specific needs and requirements.
6214 AA Maastricht.
Chamber of Commerce # 34346065
1017 EG Amsterdam
Use the contact form below or simply send us an e-mail.
Lets get around the table together.
How does the Continued Profit Payment Plan work?
- Here is an example of how a freelance translator can monetise the closure of his or her business through the Continued Profit Payment Plan:
- The freelance translator has several clients.
One of the clients provides work to the translator amounting to a turnover of EUR 12,000 per year.
- Since the translator is a freelancer and not a limited company that employs several translators with a working procedure applicable to each translator and translation, the business cannot be transferred as a package at a single acquisition price.
- Our Continued Profit Payment Plan is based on individual clients of translators and on aspects such as the type of client, turnover volume and solidity of the client:
If these aspects are right, the client can be taken over at a percentage of the monthly turnover.
- After the acquisition and termination of the business, the translator will receive a maximum of 15% on the monthly turnover for 2 years.
This means that if the turnover for this client in a given month is €900, the translator will receive €135 in compensation for that one client in that month.
- Since the freelance translator has multiple clients, a monthly fee is received for each transferred client.
- Should the client no longer use the translation service for any reason, the monthly payments will also cease from that point onwards. However, this concept guarantees that we will make every effort to deliver quality and ensure the translator’s client for further services.
- Revenue specifications through each client are audited by a chartered accountant and submitted to the (former) translator on a monthly basis.
- An agreement is drawn up, which allows for adjustment of aspects such as some form of continued involvement of the translator, pricing, special client treatment and so on.