The Small Business Boom is the Best Time to Start a Bookkeeping Franchise

The Small Business Boom is the Best Time to Start a Bookkeeping Franchise

Small enterprises have always been around. These days, though, they are more visible and are thriving despite the difficult economy. A survey from the National Federation of Independent Business shows that 31% of small business owners predict higher sales while 34% say now is a good time to expand operations. The Kauffman Foundation also found that the rate of small business survival is at a three-decade high.

The positive trend makes it tempting to start a venture of your own. If you’re unsure on how to start completely from scratch, then a franchise is the answer. With it, you’ll have access to tried-and-true methods, training programs, and support services.

For instance, you can start and own a bookkeeping franchise which capitalizes on the thriving small business community.

Another One for the Books

Small businesses largely outsource demand services to concentrate on core business matters. Third-party professionals help reduce the risk of human error as small businesses who try to do everything themselves often run into problems due to the lack of manpower or skilled workers. The most in-demand services include social media management, marketing, and finance or bookkeeping.

Basic bookkeeping services entail keeping a daily record of the company’s cash flow. It also includes ensuring that payroll goes smoothly. All these are essential parts of running any business. They are also in demand constantly across all industries. You’ll always have your share of potential clients as you can cater to any business, whether they’re a food, technology, or apparel company.

Meeting the Demand

You have the makings of a good bookkeeper if you have excellent organization and math skills. Basic computer knowledge, communication skills, and discipline are also important traits to have. With the previously mentioned characteristics on lock, acclimating to and getting additional training won’t be a problem.

Tax preparation is a much sought-after service. Certified accountants usually prepare tax filings, but bookkeepers can also do the job with the right training. Take note, versatile bookkeepers are ideal for small businesses. It’s better for smaller companies to outsource their financial needs to only one firm, after all.

accountingOne advantage of going into the bookkeeping business is that a license or certification is not necessary. True, there are nationally accredited licensing and certifications available to improve your credentials and marketability. It’s all optional, however.

The bookkeeping industry’s profitability grows at the same time that small businesses prosper. Take advantage of the positive small business conditions by starting with a franchise of your own.