We will show you how to start a bookkeeping service business. See the three steps to your start below.
If you’re the type of person who’s always loved the ins and outs of financial records, can learn computer software easily or know quickbooks, you should find out how to start a bookkeeping service business.
There are 28,000,000 small businesses in the United States – All do Bookkeeping!
To be successful starting a bookkeeping business you will need to have the following 5 skills:
- Computer literacy
- Financial credibility
- Ability to manage others (if you want to scale)
- Organization and focus on efficient processes
- Trustworthiness – clients need to be able to trust you
If you have these skills, and a passion for your clients, it isn’t too difficult to learn how to start a bookkeeping service business. Below are the 4 steps to start:
How to Start a Bookkeeping Service Business Step 1: Handle the Official Matters
First, you need to get a business license and file your DBA (Doing Business As), which is going to be your company’s name. Once you have this sorted, you also want to make sure you have the right type of insurance to help cover your business in case of any eventualities. You want to ensure nothing prevents your business from becoming a success and insurance can play a large part in that. By doing your research into something like public liability insurance by constructaquote.com, you’ll be on your way to protecting you and your business against any claims. This may come in handy in the long run. While you’re at it, it’s a good idea to join your local Chamber of Commerce. Doing so will help legitimize your company and could bring in customers down the line too. Due to the fact that we live in such a modern world, a lot of people find local businesses by looking at their website. Making a website for your business should be one of the first things you do after you register your business name. If you are unsure how you make a website then you can hire an agency like Connected Creative (connectedcreative.co.uk) to make sure the design is sleek and helps boost your online presence.
How to Start a Bookkeeping Service Business Step 2: Get the Tools
The bookkeeping tool of choice is Intuit’s QuickBooks. Most accountants and small businesses use QuickBooks and it is the gold standard. If you want to start a bookkeeping service learning how to use and purchasing QuickBooks is a must. You may also want to invest in services like SharePoint from somewhere like Cognillo to help your business prosper even further.
Moreover, the good thing about QuickBooks is it is not expensive and it is very easy to learn.
Next setup your systems so that you can offer your service remotely. This will enable you to scale your business much faster than if you have to go in to clients to get records, bank statements, etc… Setting up your systems and teaching your clients how to send you information via email, a website portal, Intuit’s portal, or other method will create the margins and efficiencies necessary for you to succeed.
How to Start a Bookkeeping Service Business Step 3: Get That First Customer
Marketing for Accountants & Bookkeepers Video
Getting your first customer could be difficult unless you’ve had previous bookkeeping experience for a company. If that’s the case, this part of learning how to start a bookkeeping service business will be much easier.
The nice thing about becoming a bookkeeper is you don’t need a specific degree or license. Many people have found out they love this business through roundabout means even though they lacked the typical kind of experience.
However, if you don’t have bookkeeping jobs on your resume, it’s natural to expect that a lot of would-be clients will be skeptical until you have a customer under your belt.
If you or your spouse has their own business, offer to handle bookkeeping for them. You could do the same for any close, personal contacts. To assuage any of their concerns, offer to handle them for a month for free, while they continue handling them the way they’re accustomed to. They have nothing to lose and, after a month, you’ll have proof you’re worth hiring.
How to Start a Bookkeeping Service Business Step 4: Market Yourself
With your first customer secured, you can now begin marketing yourself. Ask them for a simple testimonial, a few lines will work just fine.
- Start a Website Marketing your Bookkeeping Business
- Create a Business Card
- Create a Brochure – Hire a copywriter to create a brochure that lists all relevant information about your talents and prominently displays the testimonial about how talented you are.
- Join the Chamber of Commerce – network with small business who are too busy to keep up with their accounting and bookkeeping.
- Provide Discounted Services as an Independent Contractor for an Accountant
Now that you know how to start a bookkeeping service business, get started! Once you have that first customer, it should be smooth sailing. The best part is that even when the economy takes a turn, people will be willing to pay for your services to ensure they’re operating well within the law this would also be a good time period to up your financial services marketing campaigns to find as many potential clients as possible.
Sources & Resources for: How to Start a Bookkeeping Service Business
Let us know if there’s anything we can help you with to start your business.