Business Idea

Start A Bookkeeping Service

About

Starting a bookkeeping service requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell bookkeeping , or selling bookkeeping online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a bookkeeping service ➜

Key stats

market size
$576B
revenue (monthly)
$8K
starting costs
$27.1K
gross margin
18%
avg product price
$40
time to build
8 months
growth
SEO
business model
Advertising
time investment
Full time

About

Starting a bookkeeping service requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell bookkeeping , or selling bookkeeping online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start a bookkeeping service ➜

Key stats

market size
$576B
revenue (monthly)
$8K
starting costs
$27.1K
gross margin
18%
avg product price
$40

 

time to build
8 months
growth
SEO
business model
Advertising
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $500 $5,000
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $2,800
Other Expenses $0 $800
Total Startup Costs $7,466 $46,661

Successful Businesses

Business URL Rank
Bean Counter dwmbeancounter.com #109,898
pilot pilot.com #127,009
Bookkeeping Services books2taxes.com #253,363
Botkeeper botkeeper.com #267,301
Reliable Bookkeeping Services reliablebookkeepingservices.com.au #291,266
Outsource Bookkeeping velan-bookkeeping.com #481,616
Meru Accounting meruaccounting.com #512,177
Owl Bookkeeping & CFO Services owlbookkeepingandcfo.com #665,697
SLC Bookkeeping Services slcbookkeeping.com #697,964
Varo Team varoteam.com #1,021,201
YC Accounting ycaccounting.co #1,061,005

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
Meaningful business connections You never know who you will meet as a bookkeeping service. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Bookkeeping Servicees have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A bookkeeping service can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Security Issues With any Saas business, data loss and security issues may arise throughout your process of building your product. It's critical that you understand exactly what you're responsible for and how to avoid potential issues down the road.
Low margins The gross margins for your bookkeeping service are typically around 18%, which can make it more challenging to incur new expenses and maintain profitability.
High employee turnover In the bookkeeping service, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a bookkeeping service, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Marketing Ideas

  • 1

    Affiliate Program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 3

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.