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If you took basic bookkeeping and/or accounting courses in high school or have worked in the bookkeeping department of a company, you may already have the basic skills and knowledge needed to start your own bookkeeping service.

Many smaller businesses or independent contractors often dump bookkeeping responsibilities on their spouses, who may hate this job and will welcome you to take it off their hands.

Start-Up Costs

$500 for basic home office supplies. $3,000 to $5,000 for a computer, software, and other equipment. Start out with good used equipment or rent and then buy your equipment from your first earnings.

Pricing Guidelines

$65 for a first meeting and evaluation of a business's bookkeeping records. $40 to $65 per hour after that.

Marketing and Advertising Methods and Tips

Encourage word-of-mouth referrals from your customers.
Look in the classified or business sections of local newspapers to find small businesses. Call to make an appointment with them.
Place classified ads in the business section of newspapers.

Essential Equipment

You can start with just a typewriter and a calculator, but most bookkeeping and accounting businesses use a computer and bookkeeping and accounting software. You'll also need a separate business telephone, answering machine or service, fax machine, copier.

Recommended Training, Experience, or Needed Skills

Work in a bookkeeping department of a company.
Take a home study course or courses at a local business school or college.
Volunteer to help friends or relatives with small businesses do their bookkeeping.

Income Potential

$30,000 to $50,000 or more.

Type of Business

One-half in-home; one-half out-of-the-home at your clients' businesses.

Target Market

Small businesses that gross between $100,000 and $500,000 a year. Often these are seasonal businesses such as concrete contractors, landscapers, and pool cleaners.

Success Tips

Be honest with your customers. Know what resources can help you and your client.
Work with your customers' accountants to make sure you have the right tax forms, and so forth. Accountants may often refer other customers to you because you will make their jobs easier.
Back up all important files and have copies stored away from your office in the event of a disaster.

For More Information

American Institute of Professional Bookkeepers (AIPB)
Suite 500
6001 Montrose Road
Rockville, MD 20852
< www.aipb.com >
Networking and support organization; certification; also offers home study courses.

Additional Business Ideas

Add services such as billings, mailings, correspondence, payrolls, collection calls, and preparation of tax forms.


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