Jennifer’s $8M manufacturing company needed sophisticated forecasting for a potential acquisition. Full-time CFO offers came in north of $300K. Three fractional proposals hit her desk—$6,500, $11,000, and $17,500 per month—and the price spread raised a real question: what actually drives the cost, and which option would create the best outcome?

TL;DR

  • Typical cost: $5,000–$15,000/month (retainer), or $200–$400/hour for projects.
  • You’re paying for: scope, time, company complexity, and the CFO’s track record/specialization.
  • When it pays for itself: fundraising readiness, M&A, multi-location reporting, or when financial decisions materially affect growth and risk.
  • Save intelligently: tighten scope, use fixed-fee projects, negotiate prepay/portfolio discounts, or use partial-equity structures (startups).

How Much Does a Fractional CFO Cost?

Monthly Retainers (most common)

Tier Typical Price Time/Access Best For What You Get
Entry $5,000–$7,000/mo ~10–15 hrs/mo Straightforward operations Accurate monthly close, 13-week cash forecast, KPI dashboard, variance commentary, strategic guidance on major decisions
Mid-Tier $8,000–$12,000/mo ~15–20 hrs/mo Growth stage & pre-funding All basic services plus 3-statement models, investor materials, scenario/sensitivity analysis, board prep, due diligence support
Premium $13,000–$15,000+/mo ~20–30 hrs/mo PE-backed, multi-location, or M&A All mid-tier plus M&A management, cap table/equity, systems selection, finance team oversight, daily strategic partnership

Hourly Rates (project/variable intensity)

  • $200–$250/hr: solid finance leadership (5–10 yrs), generalist or smaller-biz focus.
  • $250–$350/hr: proven leaders (10–15 yrs), some specialization, fundraising/M&A track record.
  • $350–$400+/hr: deep specialization (e.g., SaaS, franchise, healthcare), 15+ yrs, major exits/funding.

Typical project totals:

  • Financial model: $5,000–$10,000
  • Acquisition due diligence: $8,000–$15,000
  • FP&A system implementation (planning/analytics tools): $6,000–$12,000

Fixed-Fee Project Pricing

Project Typical Fixed Fee What’s Included
Fundraising prep $20,000–$35,000 3-statement model, investor deck financials, data room, diligence mgmt, term-sheet advisory through close
M&A advisory $25,000–$50,000 Target eval or sell-side prep, QoE coordination, valuation & deal structure, negotiations, integration planning
Financial systems $8,000–$20,000 Tool selection, chart of accounts, integrations, process docs, training, transition mgmt

What Actually Drives the Price?

  1. Experience & outcomes
     Premium rates follow a demonstrable record (successful raises, exits, complex transformations). Ask for comparable references and outcome examples.
  2. Industry specialization
     Specialists (SaaS, franchise, e-commerce, healthcare, manufacturing, biotech) cost more—but prevent costly mistakes and move faster.
  3. Scope & time
     Reporting + cash mgmt < modeling + investor relations < full M&A leadership + org design. Align scope with real needs.
  4. Company complexity
     Multi-entity/location, international ops, complex revenue models, regulatory intensity, or active transactions raise intensity and price.

Fractional CFO vs. Full-Time CFO: Total Cost

Cost Component Full-Time CFO Fractional CFO
Cash comp (yr 1) $200K–$400K base + 15–30% bonus $60K–$180K (retainer)
Equity (typical) 1–3% Rare (startups may use partial equity)
Benefits & payroll taxes $33K–$70K $0
Recruiting/onboarding $10K–$140K $0–$5K one-time setup (if any)
Office/equipment/HR overhead Meaningful $0
Total first-year $298K–$623K $60K–$183K

Savings: ~60–75% with a fractional model—while still accessing senior-level expertise.

Hidden Costs to Watch

  • Software shifts: Mandating NetSuite or specialized FP&A tools can add $20K–$50K/yr plus $10K–$30K migration. Confirm tool flexibility.
  • Onboarding/setup fees: Reasonable at $2K–$5K—ensure they’re disclosed and time-boxed.
  • Scope creep: Nail down a clear SOW: included services, deliverables, limits, exclusions, and pricing for add-ons.

Service Levels by Outcome

Level Price Core Deliverables
Basic Financial Management $5K–$7K/mo Close oversight, 13-week cash, KPI dashboard, variance analysis, strategic counsel (10–15 hrs/mo)
Strategic Planning & Advisory $8K–$12K/mo All basic plus 3-statement modeling, scenario/sensitivity, fundraising materials, board prep, diligence mgmt, unit economics & cohorts (15–20 hrs/mo)
Comprehensive CFO Leadership $13K–$15K+/mo All mid-tier plus M&A support, org design & hiring, systems leadership, daily availability, investor relations (20–30+ hrs/mo)

What Different Businesses Typically Pay

  • Startups (cash-tight): $5K–$7K cash + 0.25%–0.75% equity, or milestone step-ups (e.g., $6K pre-raise → $10K post-raise), or one-time fundraising package.
  • Franchise / Multi-Location: Often $8K–$15K/mo due to unit-level P&Ls, consolidated reporting, and scalable systems.
  • PE-Backed: Commonly $12K–$15K+/mo for rigorous reporting, modeling, add-on diligence, and exit readiness.

How to Think About ROI

Direct financial wins: pricing & margin uplift, term renegotiations, inventory/working-capital optimization.
 Avoided losses: stopping bad expansions, fixing revenue recognition before investor diligence, preventing compliance penalties.
 Transaction value: higher fundraising valuations, working-capital adjustments at sale, protective deal structures.

If 2–3 of these apply (fundraising, M&A, multi-location complexity, material cash/margin opportunities), the engagement often pays back in < 6 months.

When It’s Worth It (and When It Isn’t)

Worth it when you:

  • Are prepping for (or just completed) a raise or acquisition.
  • Have $1M+ in revenue where decisions carry real stakes.
  • Run multi-location or complex operations.
  • Spend 10+ founder/CEO hours weekly on finance tasks.
  • Need investor-grade financials and narrative.

Not worth it when you:

  • Are pre-revenue or < $500K with simple operations.
  • Have clean books and no strategic events ahead.
  • Cash is too tight to realize a near-term ROI.

Ways to Reduce Cost Without Losing Quality

  • Negotiate smartly: annual prepay discounts (8–15%), portfolio/group rates, referral offsets.
  • Use projects first: fixed-fee modeling, diligence, or fundraising prep—then move to a retainer if fit/impact is proven.
  • Equity structures (startups): partial-cash + small equity with clear vesting and step-ups post-funding.

Red Flags (Low Price, High Risk)

  • “All-in” retainers < $4K/mo for complex needs.
  • Vague scopes, no deliverables, no hourly/time commitments.
  • No comparable references, light industry experience, or communication barriers.
  • Tool lock-in without justification.

The real cost = monthly fee plus the cost of mistakes, delays, and missed opportunities.

Getting Started

Fractional CFO services typically land between $60K–$180K/year, creating 60–75% savings versus a full-time hire—while delivering the expertise that moves valuation, de-risks decisions, and accelerates growth.

Ready for transparent pricing and a scoped plan that matches your stage and complexity? Exact Partners provides fractional CFO leadership for startups, franchises, and scaling SMBs—with clear deliverables, flexible models, and a track record across fundraising, M&A, and profitable scale.

Schedule a consultation: getexact.com • (716) 249-6434