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  • #978110
    ntgd
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    • Total posts: 36
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    Hello all,

    After working as an employee for over 9 years I am thinking of starting my own accounting/bookkeeping business.

    I am a qualified CPA and registered tax agent and work with SMEs with financial difficulities that often ended up in insolvency actions and help them to re-establish themshelves in business again for the last 7 years.

    I don’t want to deal with of all the negative side of business world anymore, therefore thinking of starting my own business.

    I have been looking into a few accounting/bookkeeping franchises and the prospect of starting on my own.

    I would like to have some advise or feedback from people that have similar experience particular those that operates an accounting/bookeeping franchise.

    Any advise and feedback will be appreciated.

    #1104789
    Anonymous
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    • Total posts: 11,464
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    Hi ntgd,

    We put a call out on Facebook to see if we could rustle up any advice for you, and so keep an eye out for responses here too. There’s one there already, and more may follow.

    Good luck,
    Jayne

    #1104790
    MelissaN
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    • Total posts: 111
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    Hi ntgd,

    I thought about franchises but soon realised that a) I can’t afford to purchase a franchise and b) you still start off with zero clients.

    Also, if you have worked with any clients who owned franchises, what were their fee structures like in terms of their monthly fees to the franchisor? I know they vary but I wonder if it’s worth it…?

    Also, if you buy a franchise, you tend to be “stuck” to a particular area. If you’re happy with that, then that’s great. If you want to expand your client base outside of that area, what are the implications?

    I would think investing those potential funds that you would’ve paid to purchase a franchise in to purchasing fees from another Firm in your area (if possible) &/or hording those funds for a rainy day as it may still take some time to build up your client base and therefore income to cover your bills etc.

    I don’t mean to preach to a preacher but I would be very wary of franchises.

    #1104791
    ntgd
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    • Total posts: 36
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    Dear Melissa,

    Thank you for your feedback.

    I notice you are with Etax Local, I have look into Etax Local as well. Will you be able to tell me more abour your experience and feedback with Etax Local?

    Thanks in advance.

    #1104792
    Mbcentre
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    Hi There

    I am the owner of a bookkeeping bookkeeping who provides both bookkeeping and tax serives.

    I started from the back of my house a few years ago and have steadily grown my business having a team of 8 bookkeepers.

    I am not going to tell you it was easy, it is very hard work but i do belive its worth it…

    Australia needs qualified bookkeepers to help small businesses out there , as there are so many un qualified people who present them selves as bookkeepers ( at half price) only to create what i call a bookkeeping nightmare

    I wish you all the best….. All you have to do to succeed is provide high quality bookkeeping services

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