How do I sell my payroll system?
How do I sell my payroll system?
Introduce your company to your target market through a direct marketing letter and a brochure that spells out the benefits of using your payroll service. List the services you provide, including payroll processing, taxes, direct deposit transactions and tax withholding.
Is selling payroll hard?
Payroll Processing is a great service and is really very easy to sell once you get the hang of it. I recommend you start out pitching payroll processing first to any prospects who have twenty or more employees as a way to differentiate and hopefully save them some money!
How much extra is payroll tax?
Payroll tax is 15.3% of an employee’s gross taxable wages. In total, Social Security is 12.4%, and Medicare is 2.9%, but the taxes are split evenly between both employee and employer. So, how much is the employer cost of payroll taxes? Employer payroll tax rates are 6.2% for Social Security and 1.45% for Medicare.
How do I get more payroll clients?
Revisit basic marketing material, including your e-mail signature line, business cards, services brochures, letterhead, and your website, to be certain payroll services are prominent. If your firm has a presence on social media – Facebook, Twitter, and LinkedIn – make certain payroll services are represented.
How do you value a payroll company?
A good payroll-processing company should be valued somewhere between a bookkeeping business (50% of annual sales) and an accounting firm (100% of annual revenues, plus assets).
Are payroll companies profitable?
Making payroll profitable A payroll service is profitable if you can sell it for more than it costs you to do the work. Cloud software helps here, by reducing the time and effort involved in managing payroll. This will have major consequences: Clients will eventually expect their accountant to offer payroll services.
How much can you make selling payroll?
Business Payroll Sales Representative Salaries
| Job Title | Salary |
|---|---|
| Paychex Payroll Specialist salaries – 242 salaries reported | $17/hr |
| Paychex Senior Payroll Specialist salaries – 149 salaries reported | $20/hr |
| ADP Payroll Specialist salaries – 124 salaries reported | $47,937/yr |
Why are my payroll taxes so high?
There are two primary payroll taxes in the United States: the Social Security payroll tax (at a rate of 12.4 percent) and the Medicare payroll tax (at a rate of 2.9 percent). One possible reason for the relatively heavy payroll tax burden is the Tax Cuts and Jobs Act, which lowered taxes for most individuals.
How can I grow my payroll business?
8 tips for managing your small business payroll
- Know your big deadlines.
- Invest in payroll software.
- Get good support for your payroll software.
- Be a stickler for detail.
- Keep up with payroll legislation.
- Invest in payroll software training.
- Have a financial back-up plan.
- And if all else fails… payroll outsourcing.
What is a good payroll percentage?
Service-based businesses where payroll is the primary cost involved in producing the product can have labor costs as high as 50 percent without destroying profitability. Generally, payroll expenses that fall between 15 to 30 percent of gross revenue is the safe zone for most types of businesses.
What percentage of revenue should payroll be?
What percentage of your revenue should go to payroll? The rule of thumb is that between 15% to 30% of your gross sales should go to payroll. However, this can vary by industry.