Reasons to start your own Bookkeeping service
It’s very profitable
Starting a Bookkeeping company can turn out to be really profitable for you, its possible to earn upto $300/per client, just imagine how much you would be earning every month if you carried out an appropriate marketing plan.
Every business needs accountants
Businesses not only need accountants for their own personal use to analyze the business but the law requires it aswell. Business make big money decisions which depend on the financial statements and other accounting records, this business will never go out dated! It will only grow in value with the increase in number of clients.
You can now be your own boss!
No need to work for some company and be cussed at after you’ve made a mistake which wont even take a minute to fix. Be your own boss, work the way you like and the best keep all the profits!
Getting Started!
Finding your Bookkeeping clients
Well finding the clients can be a tough job, but it really doesn’t have to be if you use proper marketing skills. Ever heard of the 4Ps? Well they stand for product, price, place and promotion.
You will need to describe the product to the people who are interested in availing your services.
Describe what you are charging and why, and never forget to tell them where they can find you! An advertisement without contact details would seem awkward now wont it?
Lastly carry out the best possible promotion you can, use the internet! It’s the best place that you can promote yourself and your company, there are various websites who will get you loads of clients but charge a commission for it, start working with them and after some time if you start to build a reputation for yourself, go out and look for clients yourself.
The amount you need to charge
Knowing the amount that you will need to charge your client is one of the most important business decisions that you’ll have to make. At times you might charge less than what actually your service is worth for.
If you are just starting your Bookkeeping services, you are likely to have a high proportion of fixed costs that must be bugging you, something like rent, electricity bills, insurance for your staff and salaries of your staff. Also there are various overheads on your mind such as cost of wear and tear, depreciation and replacement of assets.
The best way to get information and knowledge as to what you need to charge your client is by through means of benchmarking, try getting a firm to cooperate with you and tell you what their practices are and how much they charge for what and why? If you are wondering about why they would share such information then the simple answer to that is so that you can earn the right amount. Confused? Don’t be, they would tell you so that you don’t end up charging too less and ruin the market. They want to earn as much as possible now too don’t they?
If you’re still unsure on how to start your own Bookkeeping business, get a consultant. They always help people out! Might cost more, but is always good in the long term.