Business idea – Accountant Service
This small business ideas you can start from home and makes profitable business. This article gives you idea about how to do this business? What is the requirement for the business? Who is your customer? How much capital is required to start a business? for business and other business aspects.
Start-up cost: $3,000–$6,000
Potential earnings: $20,000–$80,000
Typical fees: $35 and up per hour
Advertising: Membership and active participation in community groups, ads in newspapers and publications for local fundraisers, referrals, possibly your own Web site with tax preparation tips on it as a resource for potential new clients
Qualifications: CPA and some experience with services on which you choose to focus
Equipment needed: Office area, furniture, computer, suite software, printer, business cards, letterhead, envelopes, cell phone is optional but handy
Staff required: No
Hidden costs: Errors and omissions insurance, subscriptions and membership dues, continuing education
What You Do
This is a service that virtually everyone needs. Th e challenge is to show potential clients how you can improve their lives by helping them manage their financial affairs better. Th e two major approaches chosen by solo accountants are (1) to work with individuals on tax issues and personal financial planning and (2) to serve the burgeoning small business market with bookkeeping setup, payroll, tax planning, and all the other financial activities that an enterprise requires. You will need to be creative in distinguishing yourself from this rather crowded fi eld. How are your accounting services better than those of the other accountants in town? How can you show an individual that you can serve him better than the big storefront operations that prepare taxes for low fees during the winter and early spring?
What You Need
Will you meet clients in your office, or will you travel to their homes or businesses? These decisions will control your start-up costs (which could be as little as $3,000).
Keys to Success
Being an excellent accountant and being able to create a profitable business are two different things. Th e people skills required have probably been completely neglected in your education and possibly in your experience if you have worked for a large firm. Gaining the confidence of potential clients is far more than simply having excellent accounting skills up your sleeve, which is why an informative company Web site might be advantageous for business-building, especially in the beginning. You’ll need to find a way to present your services in a way that appeals
to people who want your help but don’t really understand how you can best help them find ways to save money. On the downside, your services will be particularly needed during peak tax preparation seasons; you’ll be busiest in December and March/April.