Every business whether big or small has to maintain their financial records. Therefore, it is no doubt that the bookkeeping business is a lucrative business. This type of business requires low start capital and the barrier of entry into the business is low and there are many benefits of starting bookkeeping business from home. Virtually almost everyone with sufficient bookkeeping experience, skills and interest can start their own bookkeeping business from home. Check out the following benefits and see whether the business is for you:
i) Low start up capital – the cost of opening your own bookkeeping business from you can be very low. You need only a personal computer, a printer and a user friendly bookkeeping software. These items may cost you from $1,000 – $3,000 depending on your budget.
ii) Work at your own hours – you can work at your own hours especially if you are a stay at home mom. If you start your business from home, you can choose as long as you want because you are building your own business. In addition, working from home means you don’t need to spend time travelling to and from your office and hence saving time and money.
iii) Make more than working for others – if you were to provide bookkeeping services to small business owners, you will be easily earning more than $25 per hour compared to perhaps $15 per hour if you were to working for other bookkeeping or accounting firm. So starting bookkeeping business from home gives you the opportunity to earn more than what you are getting from working 9 to 5.
iv) Demand of bookkeeping services – the demand for your bookkeeping services is huge as every business whether it is big or small has to maintain proper financial records either for tax filing purpose or for management purposes. Hence, if you were to start bookkeeping business from home, it will be easier to get clients compared to other types of business whether getting enough clients can be hardest part of the business.
If you are an experienced bookkeeper and thinking of starting bookkeeping business from home, you should give it a try as the business is considered on of the most profitable business on account of the low start up capital.