11 Reasons to Start a Bookkeeping Service
Start a Bookkeeping Service? Great Idea!
Paul and Sarah Edwards, authors of “The Best Home Businesses for the 21st Century,” rate a bookkeeping service as the “Best of the Best” home-based businesses. Several reasons make this business a terrific choice for the wannabe entrepreneur.
1) Every business needs some form of bookkeeping – whether it’s a one-person operation or the business has thousands of employees.
2) A person can expect to earn more than $30 per hour – sometimes as high as $75 per hour. The average client billing will be $300 per month and require six to eight hours a month to complete.
3) It’s inexpensive to start. For less than $1,000 a person can purchase everything they will need to get the business underway. Those that already have a computer have the biggest part of the investment taken care of.
4) Other than a computer, printer, inexpensive calculator, and fax machine, there’s no special equipment that’s necessary.
5) Using today’s technology you can have clients anywhere in the world.
6) Accounting/Bookkeeping software has become easier to use. The most popular software on the market today is QuickBooks Pro (less than $250).
7) You need only a small area of your home for your office. It can even be in the corner of a bedroom.
8) There’s no traffic in and out of your home, so zoning laws are never a consideration.
9) You can build a part-time business while working full-time at another job.
10) You can perform the work during the day or night. It’s a great business to work around a busy schedule.
11) You don’t have to purchase or maintain inventory.
Warning: Start this business if you enjoy numbers and can work well with details. If you qualify, you’ll enjoy the challenge and the opportunity to work with others.
It’s likely that your first client will be from among personal acquaintances. Since every business needs bookkeeping, and business owners prefer to work with people they know, all you need to do is let people know what you’re doing. If you haven’t read the free marketing articles at our web site, you’ll find them at the link below.
If you have particular experience in one industry you may want to specialize by seeking out bookkeeping clients within that industry. For instance, if you’ve worked in a restaurant most of your working life, you could send a letter to all the restaurants in your area advising of your background and ability to help their business become more profitable.
To begin, emphasize businesses that have five to 20 employees. This way you won’t be overwhelmed by the immensity of the task, and it’s a good size to get you established. Furthermore, it represents the largest sector of businesses.
Typically your fee should be a standard monthly charge. Don’t charge by the hour: not only is it an administrative headache, but your services are easier to sell to new businesses when they know what to expect. See article athttp://www.accounting-and-bookkeeping-tips.com/running-bookkeeping-service/accounting-service-fee.htm
You can grow your business to any size you wish. If you want to work full-time, it’s a good idea to hire someone either as an employee or contractor to do the data entry. That will free you to enjoy life or seek more clients.
You Have What It Takes to Start a Successful Bookkeeping Business. Thousands just like you are already living their dream.Click HERE to See How You Can Earn $80,000 Per Year With Your Own Bookkeeping Business
Other sections from this week’s newsletter:
- Powering Up Your Client Database and Getting Personal
- Articles to Help You In Starting Your Own Business
- Seven Steps to Strengthen Your ‘Client Sales Pitch’