20 Profitable Business Ideas For Accountants (Ultimate List)

Updated: December 4th, 2023

Are you looking to start an accounting business but not sure which area to focus on?

The good news is there are several low-investment accounting business ideas you can start in 2024.

We put together a list of 20 most profitable accounting business ideas you can start today.

For each accounting business idea, we’ll show real-world examples of other businesses to help you see what it takes.

Here they are:

1. Start a career coaching business

A career coaching business involves providing personalized guidance, support, and strategy services to help clients navigate professional transitions and growth opportunities.

As a career coach, you design custom sessions to assist with resume building, interview prep, and workplace advancement goals tailored to each client’s aspirations.

With flexibility for in-person or virtual meetings, building a client base lets you empower breakthroughs through specialized advice and accountability.

Launching a coaching practice can be a great opportunity for those with speaking talents and human resources expertise to monetize their natural motivational abilities while setting their own schedule.

How much you can make: $1,000 — $500,000/month

How much does it cost to start: $750 (?)

How long does it take to build: 75 days (?)

From Getting Fired At 24 To Growing A $140K/Month Online Community

Wall Street Oasis, the largest online community focused on careers in finance, has over 100 million visitors during its 14-year history and is currently receiving over 2 million visits per month, offering interview courses and mentorship services, in addition to building and investing in a thriving online community.

About
Patrick started Wall Street Oasis almost 18 years ago
Revenue
Patrick grew the business to $200K/month
Read by 21,106 founders

2. Become an author

Becoming an author is an exciting journey that involves creating and publishing written works, such as books, novels, or articles that reflect one’s ideas, stories, or expertise.

You can establish yourself through traditional publishing routes or self-publishing, utilizing your literary skills to connect with readers and potentially earn revenue from book sales.

Traditional publishing involves submitting a manuscript to a publishing house or literary agent who will review and decide if it is suitable for publication.

On the other hand, self-publishing gives authors complete control over the publishing process, allowing them to publish their work independently and market it on their own.

You can generate income through book sales, royalties, and opportunities such as speaking engagements or workshops.

How much you can make: $200 — $9,259,259/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 75 days (?)

How I Generate $10K/Month As An Indie Writer

This case study follows full-time thriller and action-adventure author Nick Thacker who earns between $10k to $20k per month from writing, predominantly through Amazon Kindle Unlimited sales, and goes in-depth into his self-publishing strategy which maximizes sales and minimizes costs, such as developing a mailing list and utilizing print-on-demand services.

About
Nick started Conundrum Publishing over 7 years ago
Revenue
Nick grew the business to $20K/month
Read by 9,694 founders

3. Become a financial advisor

A financial advisor helps people manage their money and reach their financial goals by providing personalized advice on investments and overall financial planning.

To start a business in this field, you should consider a solid financial background, relevant certifications, and good people skills.

Building credibility through education, gaining experience, and networking are key steps to success in the financial advisory business.

How much you can make: $5,600 — $2,000,000/month

How long does it take to build: 22 days (?)

How I Started A $100K/Month Blog About Personal Finance

Michelle Schroeder-Gardner earns $100,000 a month from Making Sense of Cents, a personal finance and lifestyle blog where she writes informative and fun articles about financial freedom and her life on the road, thanks to a diversified traffic approach and monetization strategies, such as affiliate marketing, sponsored partnerships, and course sales.

About
Michelle started Making Sense of Cents over 12 years ago
Revenue
Michelle grew the business to $75K/month
Costs
It cost Michelle $100 to start the business
Read by 18,452 founders

4. Start a tutoring business

Starting a tutoring side hustle is a great way for teachers and students to earn extra monthly income.

If you are considering becoming a tutor, find an ideal tutoring niche, and craft a tutoring website.

Then, find your tutoring clients and market your side hustle online. You can choose to offer online tutoring as a part-time or full-time engagement.

How much you can make: $1,000 — $375,000/month

How much does it cost to start: $100 (?)

How long does it take to build: 15 days (?)

Time commitment per week: Min. 5 hours/week

How I Started A $15K/Month SAT Tutoring Business While In College

A 22-year-old entrepreneur started an online SAT/ACT tutoring company from his bedroom which has seen a linear increase in student sign-ups each month, currently bringing in an average revenue of $15,000 a month and plans to triple in 2020.

About
Adam started SoFlo Tutors about 5 years ago
Revenue
Adam grew the business to $100K/month
Costs
It cost Adam $100 to start the business
Read by 18,690 founders

5. Start a freelance writing business

Freelance writing can be a good career choice if you are looking for a flexible online job.

Working as a freelancer gives you the flexibility to define your work schedule. You can work from home at any time. Freelance writers work across various niches, writing about various topics assigned by the client,

To earn good money as a freelance writer, you need the following personal qualities:

  • Strong writing skills
  • Ability to meet deadlines
  • Stay on the cutting edge
  • Be a self-starter
  • Be up-to-date with the current writing tools & writing trends
  • Proper communication skills

How much you can make: $700 — $320,000/month

How much does it cost to start: $300 (?)

How long does it take to build: 30 days (?)

How I Started A $80K/Month Content Writing Business

How David Tile turned a freelance writing gig into an $80k/month business, discussing lessons learned through managing growing demands and maintaining a remote team operation.

About
David started Article-Writing Co about 13 years ago
Revenue
David grew the business to $125K/month
Read by 23,591 founders

6. Start an online community

Online communities bring people who share common values together. For anyone looking to start a side hustle and earn money, you need to figure out the best online communities to participate. More important, you need to figure out on how to translate your online community membership into dollars. Ideas of how to earn through online communities include:

  • Selling your products
  • Promoting affiliate links for a commission
  • Run ads
  • Sell online community membership
  • Start your own online community and charge for sponsored content

How much you can make: $1,000 — $1,816,666/month

How much does it cost to start: $500 (?)

How long does it take to build: 60 days (?)

Time commitment per week: Min. 4 hours/week

This VC Taught Himself How To Code And Is Bootstrapping His Own Startup

VC-turned-entrepreneur Phil Strazzulla, who previously built a successful b2b SaaS business, shares how he bootstrapped an online review site for HR software into a viable business with over $1k monthly revenues in just 3 months through organic search traffic growth and selling high intent leads.

About
Phil started SelectSoftware Reviews over 5 years ago
Revenue
Phil grew the business to $3.38K/month
Read by 16,589 founders

7. Start a crypto tax business

The tax code is a complex system that has been in place for decades. As the new age of currency, cryptocurrency, is introduced to the world, it has become increasingly difficult to keep up with the changes.

In 2017, the number of people who owned bitcoin in the United States was 1.5 million.

There are many tax services available online that are designed specifically for cryptocurrency traders and investors. These services will help crypto owners file their taxes quickly and painlessly so they can get back on track with their investments!

How much you can make: $3,699 — $10,000/month

How long does it take to build: 45 days (?)

How I Built A $0 To $100K/Month Crypto Tax Calculator

BearTax is a cryptocurrency tax software that helps traders consolidate trades and calculate taxes without heavy lifting, serving over 10,000 users across the globe in the US, Australia, Canada and India.

About
Vamshi started BearTax about 6 years ago
Revenue
Vamshi grew the business to $3.7K/month
Read by 9,042 founders

8. Create an online course

An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.

As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.

With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.

For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.

How much you can make: $350 — $3,735,000/month

How much does it cost to start: $1,850 (?)

How long does it take to build: 90 days (?)

How This 28-Year-Old Couple Quit Their Jobs And Make $20K/Month Running A Blog

Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.

About
Kelan started The Savvy Couple over 7 years ago
Revenue
Kelan grew the business to $20K/month
Costs
It cost Kelan $500 to start the business
Read by 27,276 founders

9. Start a blog

In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:

  • Blogs have been rated as the 5th most trustworthy source of gathering online information.
  • 77% of internet users read blogs.
  • Each month, approximately 409 million people view more than 20 billion pages.

Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.

If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.

How much you can make: $200 — $160,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 37 days (?)

Time commitment per week: Min. 5 hours/week

How This 28-Year-Old Couple Quit Their Jobs And Make $20K/Month Running A Blog

Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.

About
Kelan started The Savvy Couple over 7 years ago
Revenue
Kelan grew the business to $20K/month
Costs
It cost Kelan $500 to start the business
Read by 27,276 founders

10. Start a payroll business

The global HR payroll software market is expected to grow at 11.2% CAGR to reach $15.37 Billion. The growing workforce and the current trends in the job market led to increased demand for payroll systems.

To start a payroll system, identify a growing field and understand its practice. Then, start making connections with those you know need the payroll system. Establish the system, set new clients and service rates, and create a standard agreement for clients.

How much you can make: $5,000,000/month

How long does it take to build: 197 days (?)

I Bootstrapped A $60M/Year Global Payroll Solution

Transformify, a global payroll and payments platform for international contractors, achieved 650% revenue growth in 2021 and reached profitability in 2019, offering social impact programs for various vulnerable groups, vendor management systems for temporary workforce management, and an AI-driven applicant tracking system to help job seekers switch careers amid Covid-19 outbreak.

About
Lilia started Transformify: Workforce Management System almost 9 years ago
Revenue
Lilia grew the business to $5M/month
Costs
It cost Lilia $250000 to start the business
Read by 7,082 founders

11. Start an online payment service

An online payment service provider is a third-party company that provides a payment platform for businesses that accept online payment methods like debit cards, credit cards, cash cards, etc. Building an online payment platform is a great way of achieving financial freedom. This is because the payment platform charges the stores and service providers a convenience fee for using their services, generating a passive income for the business owners.

If you plan to build an online payment solution, focus on building a solution that will process different payment types.

How much you can make: $2,200 — $5,000,000/month

How long does it take to build: 150 days (?)

I Bootstrapped A $60M/Year Global Payroll Solution

Transformify, a global payroll and payments platform for international contractors, achieved 650% revenue growth in 2021 and reached profitability in 2019, offering social impact programs for various vulnerable groups, vendor management systems for temporary workforce management, and an AI-driven applicant tracking system to help job seekers switch careers amid Covid-19 outbreak.

About
Lilia started Transformify: Workforce Management System almost 9 years ago
Revenue
Lilia grew the business to $5M/month
Costs
It cost Lilia $250000 to start the business
Read by 7,082 founders

12. Start an accounting software business

Accounting software is an important part of any business. Without a definitive accounting system, businesses cannot keep track of debtors, creditors, assets, and liabilities.

According to experts, demand for new and advanced accounting software is increasing than conventional software. Besides, conventional accounting software lacks technological competitiveness, which creates an environment for expansion and upgradation of the accounting software market.

Are you looking for a business idea within the accounting sector? If you understand how accounting systems work, you can build modern accounting software that helps businesses manage accounts receivables, payables, and the general ledger, among others.

How much you can make: $25,000 — $1,000,000/month

How long does it take to build: 150 days (?)

Helping Youtubers & Online Content Creators With Their Accounting Turned Into A $300K/Year Business

A case study about FreeCashFlow.io, an accounting agency that specifically caters to the financial needs of Onlyfans models and entrepreneurs, helping them with bookkeeping, taxes, and financial management, all while overcoming the stigma associated with the industry.

About
Alan started Free Cash Flow over 2 years ago
Revenue
Alan grew the business to $25K/month
Costs
It cost Alan $500 to start the business
Read by 6,056 founders

13. Start a bookkeeping service

As the nature of business changes, bookkeeping is an essential function that is on-demand across all business sectors.

Bookkeeping services support businesses by handling their accounts receivables, creating and sending invoices to the correct accounts, and processing accounts payable to ensure business owners settle them when due.

To become a bookkeeper, pick the niche market, choose a bookkeeping software, and set up the necessary business infrastructure. You need a website, an address, client database software, and file-sharing tools where your clients can access records on demand.

How much you can make: $8,000/month

How much does it cost to start: $515 (?)

How long does it take to build: 7 days (?)

How We Started A $8K/Month Bookkeeping, Tax And CFO Service

A4E, a full-service accounting business, grew five times from when it started about a year ago when it was only offering tax services, and its current MRR is around $8k with a targeted MRR of $13k, providing 100% done-for-you accounting solutions that combine bookkeeping, taxes and CFO services under one roof and for an amazing value for US-based businesses in tech-related industries and services.

About
Yarty started A4E almost 6 years ago
Revenue
Yarty grew the business to $8K/month
Costs
It cost Yarty $1000 to start the business
Read by 9,307 founders

14. Start a tax preparation business

Do you have experience in tax preparation? You can capitalize on your math abilities and attention to detail by starting a tax preparation business.

Basic tax types include:

  • Individual income taxes
  • Corporate income taxes
  • Sales taxes
  • Property taxes

To start a taxation business, you can use an in-home taxation preparation service or build taxation software. Taxation experts can specialize in certain taxation types or offer general tax consultations.

How much you can make: $25,000/month

Helping Youtubers & Online Content Creators With Their Accounting Turned Into A $300K/Year Business

A case study about FreeCashFlow.io, an accounting agency that specifically caters to the financial needs of Onlyfans models and entrepreneurs, helping them with bookkeeping, taxes, and financial management, all while overcoming the stigma associated with the industry.

About
Alan started Free Cash Flow over 2 years ago
Revenue
Alan grew the business to $25K/month
Costs
It cost Alan $500 to start the business
Read by 6,056 founders

15. Become a CPA

A certified Public Accountant (CPA) is a trusted financial advisor who helps individuals and businesses plan and reach their financial goals. The roles of a CPA include analyzing financial records to prepare tax returns, creating budget reports, and conducting audits for clients.

To become a CPA, you must complete a program of study in accounting. The accounting education lets you earn a professional designation through a combination of education, experience, and licensing.

16. Start a forensic accountancy service

A forensic accounting service investigates fraud, bribery, money laundering, and embezzlement by analyzing financial records and transactions and tracing assets.

The demand for forensic accounting services is growing because of the tightening economic conditions and the increasing scrutiny of how companies are governed. Businesses and governments hire forensic accountants and auditors to help them in detecting and preventing or helping them take legal action against wrongdoing.

To become a forensic accountant, you must earn a master’s degree in an accredited accounting or financial program.

17. Start a credit repair business

Credit repair involves restoring or correcting a poor credit score by pointing out untrue or incorrect listings from a credit report. The demand for credit repair services is increasing tremendously.

According to a report, the global credit repair services market is estimated to grow at a CAGR of 13.76%, reaching approximately $7,000 in a few years.

The increased demand for credit repair services is because people are after removing negative items from their credit reports so they can reach a higher FICO score and obtain credit. Therefore, starting a credit repair company can be a rewarding and fun business. To start a credit repair company, you need trained and certified staff.

How much you can make: $15,000 — $41,667/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 30 days (?)

How This Couple Started A $15K/Month Notary Business

Noble Notary & Legal Document Preparers is a small but highly profitable B2B and B2C notary service business in Port Orange, Florida generating approximately $15,000/month in profits by servicing both mobile and remote online notary, executive real estate closings, apostilles, legal document preparation, fingerprinting, credit repair, and tax preparation while keeping advertising and overhead expenditures extremely low.

About
Mark started Noble Notary & Legal Document Preparers about 2 years ago
Revenue
Mark grew the business to $15K/month
Costs
It cost Mark $1000 to start the business
Read by 5,562 founders

18. Start an auditing firm

Auditing firms collate, check, and analyze financial control systems and accounts to gauge levels of financial risk within organizations.

To practice auditing, you must meet the qualifications to receive a registration certificate. The capabilities include a bachelor’s degree in accounting and taking up necessary CPA certifications so you master the accounting functions.

To start an auditing firm, figure out your niche and create a business plan and budget. Auditing is highly regulated, so you must achieve the regulations, qualifications and licensing issues to practice.

19. Start a risk management consulting business

A risk management consultant is an advisor who helps individuals and businesses assess their risks and develop a plan to minimize their risk exposure.

To become a risk management consultant, register for a bachelor’s degree in business management, statistics, finance, or a related area. Earning specific fellowship certifications and professional credentials will help you become a professional risk management expert.

20. Start a real estate appraisal service

Starting a real estate appraisal service is a great way to get involved in the industry without having to buy or sell property. As a real estate appraiser, you'll be responsible for estimating the value of properties. This can involve anything from single-family homes to commercial buildings.

To be successful, you'll need to have a strong understanding of the real estate market and the factors that affect property values. You'll also need to be licensed in your state. But, if you're up for the challenge, starting a real estate appraisal business can be a great way to make money in the industry.

Licensed appraisers can make between $40,000 and 100K. They can work for an appraisal management company (AMC), lending institution or government agency. Salary starts at about 40k with top end reaching up to 120 K depending on experience.

Starting a real estate appraisal business offers a niche opportunity that can be very profitable. Appraisers can often work from home, making it a great option for those who want the flexibility of being their own boss.

With the increase in transactions, there is a need for appraisers to accurately value properties. If you have the skills and experience, starting your own appraisal business can be a great way to make money in the real estate industry.

It 's important to note that, while there is a demand for appraisers, the industry is highly regulated. You'll need to be licensed and have the proper credentials to operate your business.

Also Read: Finance Business Ideas

Article Sources:

  1. Accounting industry in the U.S. - statistics & facts at Statista
  2. Accounting Statistics & Facts at Balancing Everything
  3. 25 Important Accounting Statistics by Actual Experts for 2022 at Fit Small Business
  4. 47 Accounting industry statistics you should know at Content Snare
meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.