20 Profitable Business Ideas For Accountants (Ultimate List)

20 Profitable Business Ideas For Accountants (Ultimate List)

Looking to start an accounting business but not quite sure what to start?

The good news is, there are so many opportunities to become an entrepreneur and build an innovative product/service in this line of work.

If you're looking to start your own accounting business, there are several low-investment options you can choose from.

Here they are:

1. Start a career coaching business ($1.68M/year)

Patrick Curtis from San Francisco, California, USA started Wall Street Oasis about 15 years ago, a career coaching business.

  • Revenue: $140,000/ month
  • Founders: 2
  • Employees: 10
  • Location: San Francisco, California, USA

After working 90+ hour weeks in investment banking at Rothschild for a few years out of college and then transitioning to private equity two years after that, I thought I had it made. I landed my dream job in private equity in my dream city (Boston) and had a much more healthy work/life balance.

The dream, however, quickly turned into a nightmare. In my first review less than 4 months on the job I was fired on the spot and asked to sign a waiver and take $10,000 to go away. I was confused and my confidence was shattered.

Even worse, I was blackballed from private equity in Boston. Every time I had an offer in hand it would get rescinded because the employer that fired me would only say that I worked there and wouldn’t give me a reference -- probably out of fear because I wouldn’t take the $10,000 or sign the waiver.

from-getting-fired-at-24-to-growing-a-140k-month-online-community

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Patrick Curtis, on starting Wall Street Oasis ($140,000/month) full story ➜

2. Become an author ($168K/year)

Nick Thacker from Colorado, USA started Nick Thacker over 4 years ago, a author.

  • Revenue: $14,000/ month
  • Founders: 1
  • Employees: 1
  • Location: Colorado, USA

I’ve always been a fanatic reader, specifically in the thriller genre. I discovered Dan Brown as a kid, then James Rollins, and I’ve always love action movies that combine adrenaline and history (think National Treasure, Indiana Jones, etc.).

I decided to write a book (my first was called The Golden Crystal, and it has been re-launched as The Atlantis Stone) when my grandfather passed away. He had always been a strong positive influence in my life, and he, my dad, and I often swapped paperbacks we liked. That first book was intended as a gift for my dad for Christmas, and it was going to be the only one I ever wrote -- just to see if I could do it.

I had no idea what I was doing (arguably, I still don’t…). I just thought it would be fun to combine technology with the discovery of Atlantis… in some way. When I got started, I was naive enough to think that books simply happen, but the book very quickly got the best of me. I took a six-month break and consumed as much as I could on the subject of the craft of writing fiction. I’d never really written anything before, so it was an eye-opening experience to learn about structure, plot tropes, character development, and everything else that goes into a good, cohesive story.

how-i-generate-10k-month-as-an-indie-writer

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Nick Thacker, on starting Nick Thacker ($14,000/month) full story ➜

3. Start a financial advisor business ($240K/year)

Denzel Rodriguez from Pompano Beach, Florida, USA started Builder To Contributor LLC over 2 years ago, a financial advisor business.

  • Revenue: $20,000/ month
  • Founders: 1
  • Employees: 0
  • Location: Pompano Beach, Florida, USA

My journey started after high school, in 2014 started in sales. Selling anything I could get my hands on for profit. I learned how to communicate, provide value to the marketplace, and achieve small wins. I had my ups and downs throughout the process which was tough and time-consuming. I then discovered the Kingdom and all it had to provide for me and those who believe and take action.

I began to study and slowly was changing my philosophy about life and meaning. I then go to know Jesus Christ and built a relationship in a short period of time and I was all uphill from there for me. I give all my credit to God because he gave me the idea to start documenting my experiences and applying these financial concepts to improve my financial situation and others. I had no background or expertise or any experience for that matter.

I have learned that starting a business in the 21st century the fastest way to gain authority over a specific topic or skill is to simply document your experience through video.

how-i-started-a-20k-month-business-offering-financial-consulting-services

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Denzel Rodriguez, on starting Builder To Contributor LLC ($20,000/month) full story ➜

4. Start a tutoring business ($1.2M/year)

Adam Shlomi from Miami, FL, USA started SoFlo SAT Tutoring over 2 years ago, a tutoring business.

  • Revenue: $100,000/ month
  • Founders: 1
  • Employees: 2
  • Location: Miami, FL, USA

I come from an entrepreneurial family. My father works for himself and my maternal grandfather started a clothing factory. Working for myself has always been encouraged by my family, but before I could get started, I needed to learn a skill. At Georgetown, I study international politics and business. Most students with these backgrounds go on to work at prestigious firms like J.P. Morgan. I really didn’t know what kind of business I could start, and frankly, planned to work as a (boring) data analyst after graduation.

If you have an idea but don’t have the knowledge to execute, use that idea as motivation and go learn how to turn your vision into reality.

Tutoring first came to mind because I had spent significant time working for other tutoring companies and cutting my teeth/learning how the industry works during my teen years. I first started tutoring when I was 15. I was hired by College Experts, a local test prep center in Davie, Florida. My first student was three years older than me, and I spent our first session teaching him how to use his calculator rather than trying to explain any complicated formulas. Being a student myself, I was able to bring a student’s perspective to tutoring. I worked for College Experts until my senior year of high school when I began tutoring on my own and finding clients on Craigslist.

how-i-started-a-15k-month-sat-tutoring-business-while-in-college

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Adam Shlomi, on starting SoFlo SAT Tutoring ($100,000/month) full story ➜

5. Start a freelance writing business ($1.02M/year)

David Tile from Toronto, Ontario, Canada started Article-Writing Co about 10 years ago, a freelance writing business.

  • Revenue: $85,000/ month
  • Founders: 1
  • Employees: 15
  • Location: Toronto, Ontario, Canada

In 2011, coming out of college, I miserably tried to start a penny auction website. I studied Political Science at University, which had absolutely no bearing on this idea. I knew I wanted to do something entrepreneurial and was consumed by this auction model. I had my own specific mechanics that I thought would make the game a lot more fair for the average consumer. But alas, 6-8 months later, after burning through thousands of dollars trying to get the technology right, I was absolutely nowhere.

I was resigned to not give up, but the mechanics of the auction are critical to the smooth operation of the website and if you can’t get it right you don’t have a business. So I decided to start taking on some freelance writing work, just to get some cash in.

One thing led to another and I started getting some bigger clients with bigger asks. Eventually, I snowballed hiring some writers and copy editors. Turning this thing into a full-time business operation.

how-i-started-a-80k-month-content-writing-business

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David Tile, on starting Article-Writing Co ($85,000/month) full story ➜

6. Start an online courses business ($60K/year)

Lidiya Kesarovska from The Netherlands started Let's Reach Success over 8 years ago, a online courses business.

  • Revenue: $5,000/ month
  • Founders: 1
  • Employees: 0
  • Location: The Netherlands

Back in 2013, I had already discovered my passion - personal development - and had realized writing is the best way to express myself. So I combined these and started a self-improvement blog.

Starting the blog was the best decision and not giving up on it over the years (even when no traffic or money was coming in) was what helped me move forward.

It was first just a hobby and I knew nothing about blogging. Over the years, after publishing a ton of content, gaining traffic, learning about SEO, email marketing, social media, and all the ways to monetize a blog, it became a real business.

how-i-created-a-5k-month-online-course-about-blogging

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Lidiya Kesarovska, on starting Let's Reach Success ($5,000/month) full story ➜

7. Start a blogging business ($60K/year)

Chhavi Agarwal from New Delhi, Delhi, India started Mrs Daaku Studio almost 3 years ago, a blogging business.

  • Revenue: $5,000/ month
  • Founders: 2
  • Employees: 3
  • Location: New Delhi, Delhi, India

I am a licensed attorney in India and right after my master’s in law, I started working with a leading company as a lawyer. I worked there for about two years before I quit my job to become more location independent.

Choose a niche in whatever you start. It is critical for streamlining your efforts and make money.

My job paid me well but I worked 12 hours a day, I was exhausted by the end of each day, spent my weekends sleeping and I almost quit the things I liked to do - for example, sketching, yoga, traveling, etc.

how-this-couple-makes-5k-month-generating-content-about-ways-to-make-money-online

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Chhavi Agarwal, on starting Mrs Daaku Studio ($5,000/month) full story ➜

8. Start a bookkeeping business

Examples of a successful bookkeeping business:

Here are some great videos on how to get started with a bookkeeping business:

For further info, check out these books and products:

Learn more about starting a bookkeeping business ➜

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9. Start a tax preparation business

Examples of a successful tax preparation business:

Here are some great videos on how to get started with a tax preparation business:

For further info, check out these books and products:

Learn more about starting a tax preparation business ➜

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10. Start a payroll business

Examples of a successful payroll business:

Here are some great videos on how to get started with a payroll business:

For further info, check out these books and products:

Learn more about starting a payroll business ➜

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11. Start an accounting software business ($480K/year)

Examples of a successful accounting software business:

Here are some great videos on how to get started with a accounting software business:

For further info, check out these books and products:

Learn more about starting an accounting software business ➜

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12. Become a CPA

Examples of a successful CPA:

Here are some great videos on how to get started with a CPA:

For further info, check out these books and products:

Learn more about starting a CPA ➜

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13. Start a forensic accountancy service

Examples of a successful forensic accountancy service:

Here are some great videos on how to get started with a forensic accountancy service:

For further info, check out these books and products:

Learn more about starting a forensic accountancy service ➜

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14. Start a debt reduction service

Examples of a successful debt reduction service:

Here are some great videos on how to get started with a debt reduction service:

For further info, check out these books and products:

Learn more about starting a debt reduction service ➜

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15. Start an ATM machine network

Examples of a successful ATM machine network:

Here are some great videos on how to get started with a ATM machine network:

For further info, check out these books and products:

Learn more about starting an ATM machine network ➜

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16. Start an auditing firm

Examples of a successful auditing firm:

Here are some great videos on how to get started with a auditing firm:

For further info, check out these books and products:

Learn more about starting an auditing firm ➜

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17. Become an angel investor

Examples of a successful angel investor:

Here are some great videos on how to get started with a angel investor:

For further info, check out these books and products:

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18. Start a risk management consulting business

Examples of a successful risk management consulting business:

Here are some great videos on how to get started with a risk management consulting business:

For further info, check out these books and products:

Learn more about starting a risk management consulting business ➜

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19. Start a credit repair business

Examples of a successful credit repair business:

Here are some great videos on how to get started with a credit repair business:

For further info, check out these books and products:

Learn more about starting a credit repair business ➜

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20. Start a microfinance bank

Examples of a successful microfinance bank:

Here are some great videos on how to get started with a microfinance bank:

For further info, check out these books and products:

Learn more about starting a microfinance bank ➜

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Pat Walls,  Founder of Starter Story

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