Accounting Firm

3 Accounting Firm Success Stories [2024]

Updated: July 4th, 2024

Accounting firms provide audit, assurance, consulting, financial advisory, risk management, and tax compliance services.

Professionals are increasingly choosing to work independently rather than for employers. Thus, you may consider starting an accounting firm if you are an accountant.

To ensure a successful business, you must have a blend of accounting skills and experience. Like starting any other business, you must have the drive and the initiative to start your business.

Overall, the success of an accounting firm depends on marketing your services.

In this list, you'll find real-world accounting firm success stories and very profitable examples of starting a accounting firm that makes money.

1. SimplySolved ($6M/year)

Haroon Juma, founder and managing director of SimplySolved, came up with the idea for his business when taxes were introduced in the GCC in 2017. Recognizing that many companies would struggle to manage their operations and legal obligations, he saw an opportunity to provide a simple all-in-one solution. With a deep understanding of good service design and operational know-how, Haroon started the company and has since grown it to manage over 300 companies, with a revenue of $4 million per annum and an annual growth rate of 40%.

How much money it makes: $6M/year
How much did it cost to start: $500K
How many people on the team: 27

SMALLBORDER

Building A $4M/Year Company For SMEs: A Slow And Sustainable Growth Approach

Dubai-based SimplySolved has flourished since it was founded six years ago, thanks to its ISO certifications and skilled team. It manages more than 300 companies, handling all aspects of their back-office operations, and turns over $4m annually, experiencing growth of 40% a year, while retaining 4.9 out of five in Google rankings. Founder Haroon Juma says a solid platform, automation and providing a seamless user experience were among his priorities when launching.

Read by 1,554 founders

2. Gauvreau Accounting Tax Law Advisory ($4.44M/year)

Robert Gauvreau, founder and CEO of Gauvreau Accounting Tax Law Advisory, started his business in 2008 with just three employees and $220,000 in revenue. Over the years, through innovation and a focus on proactive financial services, the company has grown exponentially, now generating over $10 million in revenue and employing 90 to 100 people. Gauvreau's goal is to continue scaling the business and reach $200 million in revenue within the next ten years.

How much money it makes: $4.44M/year
How many people on the team: 80

SMALLBORDER

Our Accounting Tax Law Advisory Firm Will Surpass $10M Revenue in 2023

Gauvreau Accounting Tax Law Advisory has gone from $220k in revenue in its first year to over $10 million with 90-100 employees, offering compliance solutions, strategic financial advisory services, leadership coaching, and specialized tax, wealth management, and business financing services; their primary goal is to positively empower business owners to maximize their impact in changing the world, and they plan to go from $10 to $200 million revenue in the next ten years.

Read by 1,706 founders

3. A4E ($96K/year)

Sara, the original founder of A4E, launched the business in 2018 as a tax services company. However, after realizing that many of her tax customers had messy books and low profit margins, she decided to expand the services to include bookkeeping and CFO services. This shift allowed A4E to become a strategic partner for its customers, providing them with comprehensive accounting solutions. Since then, the business has experienced significant growth, with a MRR of $8k and a targeted MRR of $13k by the end of the year.

How much money it makes: $96K/year
How much did it cost to start: $1K
How many people on the team: 2

SMALLBORDER

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.

Read by 9,678 founders