The Glovers have stepped up into the second tier of English football for the first time in their history, with a Championship standing secured on the back of last season's play-off success.
Manager Gary Johnson has kept faith with many of those who helped Yeovil climb another step up the ladder and will give them every opportunity to prove that they belong on a grander stage.
McAllister believes that is the right approach, but appreciates the need to have strength in depth and would welcome a few more additions if Johnson is able to dip back into the market.
He told the Western Gazette: "I think it's important we have the right group and the gaffer has made a number of new signings this summer. They are all good quality and they definitely add to our squad.
"A lot of tweaks took place during last season, as happens at every club, and I am sure it will happen again this year.
"But the gaffer has built a group and it is definitely a group that will be competitive and up there this season. It's an exciting time for Yeovil Town.
"Keeping the lads from last season has been key for me. The nucleus of the squad was successful last season and the additions the gaffer has made will stand us in good stead.
"We had a small squad last year and even with injuries it was the same 14 or 15 lads that were playing in most of the games throughout the course of the season.
"The higher you go, the bigger the squad you need with more depth and more quality. I think the gaffer has done that and with a few more we will have an even stronger squad.
"It would be nice to maybe add one or two experienced players because we do have a young squad, but I am sure that the gaffer knows what he's doing and the squad he's built so far looks really good and very strong."