sample business plan for bookkeeping services

Bookkeeping Business Plan Template

Written by Dave Lavinsky

Bookkeeping Business Plan

Over the past 20+ years, we have helped over 9,000 entrepreneurs create business plans to start and grow their bookkeeping companies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a bookkeeping business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Bookkeeping Business Plan?

A business plan provides a snapshot of your business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Bookkeeping Business

If you’re looking to start your own bookkeeping business or grow an established business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bookkeeping business in order to improve your chances of success. Your business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Bookkeeping Startups

With regards to funding, the main sources of funding for a bookkeeping business are personal savings, credit cards, bank loans, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a bookkeeping company is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding or, like a bank, they will give you a loan.

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How to write a business plan for a bookkeeping company.

Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of business you are operating and the status; for example, are you a startup, do you have a bookkeeping business that you would like to grow, or are you operating a chain of bookkeeping companies.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the bookkeeping business industry. Discuss the type of business you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing strategy. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of bookkeeping business you are operating.

For example, you might operate one of the following types:

• Traditional Bookkeeping and Accounting Business : the traditional bookkeeping and accounting business can provide the entire range of bookkeeping services, including maintaining journals and ledgers, balancing and reconciling accounts, preparing payroll, preparing and filing taxes, and providing billing and collection services.
• Tax Preparation Services : this type of bookkeeping business primarily prepares, reviews, and/or files tax returns and supplementary documents.
• Payroll Services : this type of bookkeeping business typically collects payroll information, processes paychecks, processes withholdings, and files reports.
• Billing Services : this type of bookkeeping business deals with sending bills and collecting payments.

In addition to explaining the type of business you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the bookkeeping business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the bookkeeping industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, it would be helpful to ensure your plan takes into account the seasonal nature of certain services such as tax preparation.

The following questions should be answered in the industry analysis section:

• How big is the bookkeeping industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your bookkeeping business. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section must detail the customers you serve and/or expect to serve.

The following are examples of customer segments : families, entrepreneurs, businesses, retirees, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of bookkeeping business you operate. Clearly, families would want different pricing and product options and would respond to different marketing promotions than established businesses.

Try to break out your target market in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the customers you seek to serve. Because most bookkeeping companies primarily serve customers living in the same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your business clients.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other bookkeeping services and companies.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes accountants, companies’ internal accounting departments, professional employer organizations, and entrepreneurs/individuals doing their own bookkeeping. You need to mention such competition to show you understand that not everyone engages in bookkeeping services.

With regards to direct competition, you want to detail the other bookkeeping companies with which you compete. Most likely, your direct competitors will be bookkeeping companies located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What services do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior bookkeeping services?
• Will you provide bookkeeping services that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your services?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a bookkeeping business plan, you should include the following:

Product : in the product section, you should reiterate the type of business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to account reconciliation, will you offer services such as tax preparation?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections, you are presenting the services you offer and their prices.

Place : Place refers to the location of your business. Document your location and mention how the location will impact your success. Discuss how your location might provide a steady stream of customers. 

Promotions : the final part is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Email marketing to prospective clients
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites 
• Social media advertising
• Pay per click advertising
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your bookkeeping business such as serving customers, procuring supplies, keeping the office clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your bookkeeping business’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally, you and/or your team members have direct experience in the bookkeeping or accounting business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in bookkeeping businesses and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 10 customers per week or 20? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your bookkeeping business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a bookkeeping or accounting business:

• Location build-out including design fees, construction, etc.
• Cost of equipment like computers and software
• Cost of maintaining an adequate amount of office supplies
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office design blueprint or location lease.

Bookkeeping Business Plan Summary

Putting together a business plan for your bookkeeping business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will have an expert bookkeeping business plan; download it to PDF to show banks and investors. You will really understand the bookkeeping business, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful bookkeeping business.

Bookkeeping Business Plan FAQs

What is the easiest way to complete my bookkeeping business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Bookkeeping Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of bookkeeping business you are operating and the status; for example, are you a startup, do you have a bookkeeping business that you would like to grow, or are you operating a chain of bookkeeping businesses.

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business plan consultant can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Bookkeeping Business Plan Template

Written by Dave Lavinsky

Bookkeeping Business Plan

You’ve come to the right place to create your Bookkeeping business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Bookkeeping companies.

Below is a template to help you create each section of your Bookkeeping business plan.

Executive Summary

Business overview.

Pacific Bookkeeping is a new bookkeeping firm located in Seattle, Washington. The firm will focus on providing expert bookkeeping services and exceptional customer service. We will help both small businesses and individuals and provide them with tax preparation, forecasting, budgeting, and other bookkeeping/accounting services.

Pacific Bookkeeping is led by Rebecca Stone, an experienced accountant who has been managing a large bookkeeping firm in Seattle, Washington for the past ten years. She graduated from Washington State University with an accounting degree and has been working at a large payroll firm since then, starting at an entry-level position and working her way up to a management-level role. Her experience and education have fully equipped her to run her own local bookkeeping firm.

Product Offering

Pacific Bookkeeping will provide a full range of bookkeeping services for individuals and small businesses. Some of these services include:

• Recording invoices
• Tax filing and preparation
• Financial reporting
• Payroll processing
• Monitoring accounts receivable
• Documenting receipts
• Forecasting
• Customer analysis

Customer Focus

Pacific Bookkeeping will primarily serve individuals and small businesses in the Seattle, Washington area. The city is home to over four million residents and around 100,000 businesses and many of them have a need for professional bookkeeping services. We will offer a wide variety of bookkeeping services in order to serve as many customers as we can in this target market.

Management Team

Pacific Bookkeeping is led by Rebecca Stone, an experienced accountant who has been working at a large bookkeeping firm in Seattle, Washington for the past ten years. She graduated from Washington State University with an accounting degree and then began working at the firm, starting at an entry-level position and working her way up to a management-level role. Though she has never run an accounting firm of her own, her experience has given her an in-depth knowledge of the bookkeeping industry, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

Success Factors

Pacific Bookkeeping will be able to achieve success by offering the following competitive advantages:

• Location: Pacific Bookkeeping is centrally located in the community, which provides ease of access for clients. The firm’s office will be located between the retail and business districts, making it accessible to a larger customer base.
• Competitive pricing: Pacific Bookkeeping’s pricing is more affordable than its closest competitors.
• Management: The management team has years of accounting experience that allows the company to market to and serve clients in a much more sophisticated manner than competitors.
• Relationships: Having lived in the community for over 20 years, Rebecca Stone knows all of the local leaders, newspapers, and other influencers. As such, it will be relatively easy for Pacific Bookkeeping to build brand awareness and an initial customer base.

Financial Highlights

Pacific Bookkeeping is seeking a total funding of $200,000 of debt capital to open its bookkeeping firm. Funding will also be dedicated towards three months of overhead costs including the payroll of the staff, rent, and marketing costs. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

Company Overview

Who is pacific bookkeeping, pacific bookkeeping’s history.

Once her market analysis was complete, Rebecca Stone began surveying local office spaces for lease and identified an ideal location for the bookkeeping firm. Rebecca Stone incorporated Pacific Bookkeeping as a Limited Liability Corporation in January 2023.

Once the lease is finalized on the office space, interior design work can begin to make the office an appealing place to meet with clients.

Since incorporation, the company has achieved the following milestones:

• Located available office space for rent that is ideal for the bookkeeping firm
• Developed the company’s name, logo, and website
• Hired an interior decorating company to design and furnish the office
• Determined equipment and necessary supplies
• Began recruiting key employees

Pacific Bookkeeping’s Services

Industry analysis.

The United States Bookkeeping Industry is forecast to generate more than $66B this year. According to research reports, the largest bookkeeping firm in America generates approximately $9.5B annually. There are currently over 1.5M bookkeepers employed throughout the United States.

The top bookkeeping firms industry-wide are Automatic Data Processing (ADP) ($9.5B in annual revenue), Intuit ($7.8B in annual revenue), and Paychex ($4.0 in annual revenue). All other bookkeeping firms in the United States combined generate approximately $43.5B in annual revenue. An estimated 42% of industry revenue is generated through payroll services. Additional services such as billing, general accounting, tax preparation, and bookkeeping make up the remainder.

One of the biggest challenges for bookkeeping firms is the ability to keep up with changes in regulations. Additional hurdles include recruiting and retaining high-quality employees, keeping up with evolving technology, and acquiring new clients.

However, despite the challenges, the bookkeeping industry is expected to grow significantly throughout the rest of the decade. According to Data Intelo, the industry is expected to grow at a compound annual growth rate of 9.5% from now until 2030. This large growth shows that bookkeeping services are still in high demand, meaning that Pacific Bookkeeping has a solid chance of succeeding and maintaining a profit.

Customer Analysis

Demographic profile of target market.

Pacific Bookkeeping will serve individuals and small businesses in the community of Seattle, Washington, and its surrounding areas. Seattle has thousands of individuals and small businesses that would benefit from affordable bookkeeping services.

The precise demographics for Seattle, Washington are:

Customer Segmentation

Pacific Bookkeeping will primarily target the following customer profiles:

• Individuals
• Small businesses and nonprofits
• Government organizations

Competitive Analysis

Direct and indirect competitors.

Pacific Bookkeeping will face competition from other companies with similar business profiles. A description of each competitor company is below.  

Young & Mitchell

Founded in the 1930s, Young & Mitchell has intentionally remained a small business so that the core group of professionals within the company could get to intimately know each one of their clients. The company is one of the leading tax firms in the Four State Region and offers financial guides and tax tools for individuals for free. Listed below is an outline of the services that the company offers according to its website:

• Tax Preparation and Planning Services
• Assurance and Advisory Services
• Estate and Trust Planning and Tax Preparation
• Bookkeeping/Write-up
• IRS Representation
• Accounting Services
• Audits, Reviews, and Compilation
• QuickBooks Accounting Help and Assistance
• Entity Selection and Restructuring
• Payroll Services

A Plus General Bookkeeping Services

A Plus General Bookkeeping Services is a bookkeeping firm that specializes in financial strategy and consulting for businesses of all sizes. The firm has been in business for over a decade and has acquired a loyal client base.

Clients may work with accountants in person, over the phone, through email, on video conferencing software, or completely through a new digital application. Although this firm has an excellent track record for service, it is also the most expensive bookkeeping company on the market.

Smith Brothers Accounting

Established in 1974, Smith Brothers Accounting is a privately held accountant practice that offers a wide variety of financial services including tax planning and preparation, payroll processing, financial planning, and small business accounting. Smith Brothers Accounting serves individuals and businesses.

Smith Brothers Accounting Services:

• Business Services
• Tax Services
• Individual Services
• Notary Services

Competitive Advantage

Pacific Bookkeeping will be able to offer the following advantages over the competition:

Marketing Plan

Brand & value proposition.

Pacific Bookkeeping will offer a unique value proposition to its clientele:

• Client-focused bookkeeping services
• Service built on long-term relationships
• Thorough knowledge of the latest regulations
• Big-firm expertise in a small-firm environment

Promotions Strategy

The promotions strategy for Pacific Bookkeeping is as follows:

Pacific Bookkeeping understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer others by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Website/SEO

Pacific Bookkeeping will invest heavily in developing a professional website that displays all of the features and benefits of the bookkeeping company. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Social Media Marketing

Social media is one of the most cost-effective and practical marketing methods for improving brand visibility. The company will use social media to develop engaging content and post customer reviews that will increase audience awareness and loyalty.

Special Offers

Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The company will introduce special offers to attract new clients and encourage repeat business.

Pacific Bookkeeping’s pricing will be moderate so consumers feel they receive great value when purchasing the bookkeeping services. The client can expect to receive quality bookkeeping services at a more affordable price than what they pay at other accounting firms.

Operations Plan

The following will be the operations plan for Pacific Bookkeeping.

Operation Functions:

• Rebecca Stone is the Owner and CEO of Pacific Bookkeeping. She will be in charge of the executive and operations aspects of the business. She will also provide bookkeeping services for her initial clients until she hires a full staff of accountants, bookkeepers, and tax preparation professionals.
• Rebecca is joined by Rhonda Wolfe who will be the company’s Administrative Assistant. She will help Rebecca with the administrative functions of the business.
• Rebecca is also joined by Samual Wright. He will act as the Marketing Manager and manage all the marketing and advertising functions for Pacific Bookkeeping.
• As the firm grows and takes on more clients, Rebecca will hire a team of experienced accountants, bookkeepers, and tax preparation professionals to help with the company’s service functions.

Milestones:

Pacific Bookkeeping will have the following milestones completed in the next six months.

• 3/202X Finalize lease agreement
• 4/202X Design and build out Pacific Bookkeeping
• 5/202X Hire and train initial staff
• 6/202X Kickoff of promotional campaign
• 7/202X Launch Pacific Bookkeeping
• 8/202X Reach break-even

Financial Plan

Key revenue & costs.

Pacific Bookkeeping’s revenues will come primarily from its bookkeeping services. The major costs for the company will include the salaries of the staff, marketing spending, and the rent for a prime location in Seattle.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Annual rent: $50,000
• Year 3: 100
• Year 4: 125
• Year 5: 150

Financial Projections

Income statement, balance sheet, cash flow statement, bookkeeping business plan faqs, what is a bookkeeping business plan.

A bookkeeping business plan is a plan to start and/or grow your bookkeeping business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Bookkeeping business plan using our Bookkeeping Business Plan Template here .

What are the Main Types of Bookkeeping Businesses?

There are a number of different kinds of bookkeeping businesses , some examples include: Traditional Bookkeeping and Accounting Business, Tax Preparation Services, Payroll Services, and Billing Services.

How Do You Get Funding for Your Bookkeeping Business Plan?

Bookkeeping businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Bookkeeping Business?

Starting a bookkeeping business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Bookkeeping Business Plan - The first step in starting a business is to create a detailed bookkeeping business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your bookkeeping business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your bookkeeping business is in compliance with local laws.

3. Register Your Bookkeeping Business - Once you have chosen a legal structure, the next step is to register your bookkeeping business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your bookkeeping business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Bookkeeping Equipment & Supplies - In order to start your bookkeeping business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your bookkeeping business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful bookkeeping business:

• How to Start a Bookkeeping Business

Creating your business plan

It’s time to get things down on paper. Your business plan is vital to reality checking all those ideas you have.

What to do on day zero

If you already know what you want to be called, lock down the name and register the URL. Now take some time to see what’s working for other bookkeepers. Find the ones in your area and check out their websites – plus their LinkedIn and Facebook profiles – to see what makes them tick. How do they speak to the market? What services do they offer? How much do they charge? Use this research to help start the plan for your bookkeeping business.

But what if I already know the plan?

It’s great if you already know how you’re going to get started, but it’s still important to write everything down. For one thing, you’ll want to record all your golden ideas before they’re forgotten. Plus the writing process will help you interrogate those ideas.

Putting them on a timeline, costing them out, and fitting them around each other might reveal a thing or two. Perhaps some assumptions will need to be rethought, or some ideas will have to be skipped in favor of others. It’s a great way to organize your thinking.

Start with a working one-pager

The key to a business plan is to start out simple, and build on it as you go. Begin with a few headings and bullet points that map out your vision, goals, milestones and predictions.

Don’t let it get out of hand or bog you down. That’s not what a business plan is for. It’s supposed to help you get started. So set yourself a target of producing a one page plan to start.

Choose your words carefully

Decide how you’re going to talk about your business, and which words you’ll use. It’ll be helpful in settling on a value proposition and relating to clients. You can use your chosen terms in your elevator pitch, on your website, in blurbs about your business – and in your business plan.

Sections for a one-page business plan

1. Value proposition: Explain why clients will be better off with you.

2. The problem you’re solving: Describe the status quo and say why it’s not ideal.

3. Target market and competition: Profile the clients you want, and the bookkeeping solutions they use now.

4. Sales and marketing: Show how you’ll reach your target market, and what you’ll say to them.

5. Budget and sales: Work out your costs and predict how much you can earn over the first couple of years.

6. Milestones: Identify all the things that need to happen and map them against a timeline.

7. The team: Identify the people that will be involved (including consultants) and outline their roles.

8. Funding: Show how you’ll bankroll the business, especially as you wait for fees to start rolling in.

9. Contingency plan: What will you do if your cash flow isn’t what you budgeted?

You may eventually draw up a longer business plan, or you may stick with a short one. It depends on your working style, and the level of risk you’re taking on. Your plan will probably be more detailed if you’re taking on a lot of debt.

You can download a copy of our one-page or multi-page business plan template .

Staying alive

Once you’ve got your plan nailed down, remember you really don’t. You should treat your plan as a living document and keep tweaking it as things evolve. That’s another reason why it’s good to have a short plan, which you’re much more likely to update as you go. Try to be agile and open to change.

The discipline of maintaining your business plan will help you:

• discover and solve problems – putting things in black and white will show up holes in your thinking.
• get feedback from others – you can share your plan to get feedback from trusted advisors.
• go for more finance – an up-to-date business plan (and budget) means you’re always ready to apply for loans.
• guide growth – regular focus on the big picture will help you make strategic decisions rather than instinctive ones.

Have a succession plan

You will also need a succession plan. What will happen when you step away from the business? Will you sell it? Who to? A family member, a staff member, or someone on the open market?

A good succession plan will make sure the business can survive and thrive without you. That it will perform for its clients and its new owners. And it should give you the flexibility to step away from the business at short notice, if required or desired.

Learn more in our guide to succession planning.

Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.

Starting a bookkeeping business

Work through the big decisions around accreditation, services to offer, fees to charge, and how to find clients.

You’ll need some training and certification to become a professional bookkeeper. Find out where this is available.

With a foundation of knowledge, skills and experience, take the next steps in setting up as a bookkeeper.

You need to nail down what services you’ll offer, who to, and how. Don’t promise more than you’re able to deliver.

Designing your bookkeeping business around a specific type of client or your strengths can be a successful way to go.

How do you walk the line between profitable for you and affordable for your clients? And help clients budget?

You might deliver an awesome service at a great price, but what if no one knows? Let’s look at marketing your services.

Download the bookkeeping business guide

A guide to help you work through the big decisions around starting a bookkeeping business. Fill out the form to receive the guide as a PDF.

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BUSINESS STRATEGIES

How to create a bookkeeping business plan

• Jeremy Greenbaum
• Sep 7, 2023

Starting a business in the field of bookkeeping requires more than just number-crunching skills. It demands a well-crafted business plan that keeps you on track towards your goals.

More specifically, a bookkeeping business plan is a strategic document that outlines the objectives, strategies and financial projections for your business. It serves as a roadmap, helping you stay organized both now and in the future. Keep reading for tips on creating a strong business plan when starting your bookkeeping business .

Looking to get your business online? Try Wix’s website builder today.

As you’re building out your bookkeeping business plan, here are the six primary sections to keep in mind:

Executive summary

Business and domain names

Market analysis and research

Operations plan, marketing and advertising plan, financial plan.

Not sure how to begin planning your business? Check out how to start a service business .

01. Executive summary

The executive summary is a concise overview of your bookkeeping business plan, providing a snapshot of its key elements. For a clear executive summary, focus on highlighting the unique value that your services bring to clients and how your business aims to meet their needs efficiently and accurately.

Example of an executive summary for a bookkeeping business plan: “Our bookkeeping business, PreciseLedger Solutions, aims to provide meticulous financial record-keeping services to small and medium-sized businesses. With a commitment to accuracy, reliability and technology-driven solutions, we intend to streamline our clients' financial processes, enabling them to focus on core business activities. With a team of experienced and certified professionals, PreciseLedger Solutions seeks to establish long-term partnerships with clients, ensuring their financial success through organized and compliant bookkeeping practices.”

02. Business and domain names

Selecting the right business name for your bookkeeping business is pivotal for brand identity and recognition. It should reflect professionalism, trustworthiness and the services you offer. Once you have a business name, ensure the corresponding domain name is available for your bookkeeping website . You can use a business name generator to brainstorm consulting business names that align with your services and values.

Be inspired: Bookkeeping business name ideas

When choosing a domain name , keep it short, memorable and relevant to your bookkeeping services. Avoid using hyphens or complex spellings. Check its availability, and secure it promptly. For instance, if your business name is "AccuBooks Consultants," consider a domain like "AccuBooksConsultants.com" for consistency and easy online discovery.

Remember to also register your business once you’ve landed on a name and legal structure for your business.

03. Market analysis and research

Your business plan should include a comprehensive market analysis. Research your target market, competitors and industry trends. Understand the pain points that your potential clients face and how your services can address those needs effectively. Utilize this information to craft a robust marketing strategy that positions your bookkeeping business uniquely in the market.

04. Operations plan

Detail the operational aspects of your bookkeeping business. Specify the location—whether physical or virtual—and explain the rationale behind it. Outline the premises layout, necessary equipment and technology infrastructure. And, define your staffing requirements, highlighting the skills and certifications that your team will bring to the table.

05. Marketing and advertising plan

In this section, outline the marketing and advertising strategies you intend to employ to promote your bookkeeping services. This could involve a combination of a business website , digital marketing, content creation and networking with local businesses. Highlight the benefits of your services, and start thinking about how you will brand your business.

Note: You can use a logo maker to think of logo ideas for your business. Keep in mind that your visual identity is just one half of the branding formula—the other half involves knowing your company mission, vision, values and messaging.

06. Financial plan

The financial plan is the heart of your bookkeeping business plan. It should include startup costs, revenue projections and expense estimates. Specify how you plan to fund your business initially and provide a realistic timeline for reaching profitability. Detail your pricing structure, considering factors like industry standards, services offered and value provided.

Incorporating these six main parts into your bookkeeping business plan ensures a comprehensive and well-structured document that guides your entrepreneurial journey. From setting a strong foundation to strategically marketing your services and achieving financial success, each section plays a crucial role in your business's growth and sustainability.

Sample bookkeeping business plan: AccuLedger Bookkeeping Services

AccuLedger Bookkeeping Services aims to revolutionize financial record-keeping for small and medium-sized businesses. We specialize in providing accurate, streamlined and technologically advanced bookkeeping solutions. Our team of experienced professionals is committed to enabling our clients to focus on their core operations while we manage their financial records with precision and compliance.

Company and domain names

Company name: AccuLedger Bookkeeping Services

Domain name: www.acculedgerbookkeeping.com

We have conducted extensive research on the bookkeeping industry and identified a growing demand for reliable and efficient financial management among businesses. Our target market comprises local businesses, startups and entrepreneurs who seek trustworthy and cost-effective bookkeeping services.

Location: We will operate from a centralized office in the heart of the business district, ensuring accessibility for clients.

Premises: Our office layout will include private meeting spaces for consultations, a dedicated area for bookkeeping operations and advanced technology infrastructure for data security.

Equipment: We will invest in state-of-the-art bookkeeping software, high-speed computers and security measures to safeguard client data.

Staffing: Our team will consist of certified bookkeepers and financial experts with a strong commitment to accuracy and client satisfaction.

Digital presence: Establish a professional website (AccuLedgerBookkeeping.com) showcasing our services, team and success stories. Optimize for search engines to increase online visibility.

Social media: Leverage platforms like LinkedIn, Facebook and Instagram to engage with potential clients, share educational content and build a community around financial management.

Content strategy: Develop informative blog posts, ebooks and video tutorials on bookkeeping best practices, demonstrating our expertise and value to clients.

Networking: Attend local business events, workshops and seminars to connect with potential clients and establish our brand as a trustworthy bookkeeping partner.

Startup costs

Office setup: $15,000

Software licenses: $5,000

Marketing initiatives: $7,000

Staff training: $3,000

Miscellaneous: $2,000

Total startup costs: $32,000

Revenue projections (Year 1)

Monthly clients: 10

Average monthly revenue per client: $800

Total monthly revenue: $8,000

Total annual revenue: $96,000

Expenses (monthly)

Salaries and wages: $4,000

Marketing expenses: $500

Office utilities: $300

Software maintenance: $200

Miscellaneous: $100

Total monthly expenses: $5,100

We will initially fund the business through personal savings and a small business loan of $20,000.

Profitability timeline

We project to achieve profitability within the first year of operation, driven by a steadily growing client base and effective cost management.

Benefits of creating a bookkeeping business plan

A well-structured business plan will help you define your scope of services, target market, competitive landscape and pricing strategies. By outlining these aspects, the business plan acts as a blueprint that guides decision-making and resource allocation.

Secondly, a business plan aids in raising money for your business . Whether you’re seeking a loan, investment or other contributions, potential stakeholders will want to see a well-thought-out plan. It demonstrates your commitment and understanding of your business's potential for success. Financial projections within the plan illustrate the expected profitability and return on investment, offering a clear picture of the business's viability.

Moreover, a business plan assists in setting achievable goals and measuring progress. By establishing milestones and performance indicators, you can assess whether your bookkeeping business is on track and make necessary adjustments if not. This aspect is crucial when starting a business, as it ensures that the initial steps are strategic and effective.

Got another business idea in mind?

Not exactly sure what type of business to pursue? Check out the guides below and explore your options with service business ideas and service business examples .

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Bookkeeping Business Plan Sample

Mar.28, 2019

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Table of Content

Do you want to start accounting and bookkeeping business plan?

A bookkeeping business requires you to manage your expenses and income, prepare tax returns for clients and process payrolls. You should learn how to approach clients and create a bookkeeping business plan template to get your business up and running. One thing you should not overlook is looking for an ideal banking partner. You should write a business plan before starting your business.

When a business plan is needed to acquire funding, the value it provides is all about the overall process. You need considering every aspect, like services and products, you are going to sell, the way you will market your offerings, and your competition. Here are some of the major items you should include in your business plan –

Executive Summary

When writing a bookkeeping services business plan template, the executive summary is a very important part. You need writing the overall review of your company business. You need describing your services to your clients. It will need investment in staff and marketing for the overall growth of your business to include the complementary range of your business. This segment of the business plan helps you in starting your own bookkeeping business . You need to do an in-depth and detailed analysis of your business strengths and weaknesses and ensure it has great odds of success.

• What services do you offer?

This way, your company can definitely provide bookkeeping services to your clients along with management accounting, tax accounting, as well as QuickBooks installation and services. You can also further expand to offer bookkeeping services for small businesses. You may want to offer quality and reliable services like Accounts Payable/Receivable, General Ledger, Billing & Collections, Payroll Management, Tax Preparation and Filling State, Federal and Local Forms.

• Who buys your product?

As a licensed and standard bookkeeping firm, you can offer a huge range of consulting solutions to a huge range of clients’ base. Your target market may be ranging from different industries and sizes. This way, you may want to target NGOs, Mom and Pop stores, Blue Chip companies, Hotels and Restaurants, Religious Organizations, Sports Organizations, Schools and others.

• How he implement business management?

Proper planning needs well-trained staff and efficient management team enough to run your business. You need describing the efficiency of your business partners and staff.

• What target of this business?

Here, you need describing your measurable goals. You should have a well-defined target and measurable elements to ensure the success of your business.

Company Summary

Financial services are quite a large industry and bookkeeping is one of the active segments of the businesses, which includes recording financial transactions in business. It is a kind of financial accounting process. The payroll and bookkeeping services industry has plenty of small business operators which serve many clients from start-ups to well-established ones.

Bookkeeping industry is a mature stage of growth. If you are wondering how to start a bookkeeping service business plan , it is very helpful to know how to outsource your human resource functions like payroll etc. to focus your attention on core business operations. The bookkeeping is a large and active industry especially in developed countries like USA, Canada, UK, France, Italy, Japan, China, etc. There are around 285,212 licensed and registered bookkeeping companies in the US alone.

• Who is owner of this company?

You need telling the ownership of your company, like a sole proprietorship, partnership, etc.

• Why you have started Bookkeeping business plan?

Bookkeepers usually keep transactions like sales, purchases, payments, and receipts by the organization or person. Your purpose to start this business may be related to one of these things.

• How you have to start the Bookkeeping business plan?

For doing this, you can partner with smaller companies also engaged in financial services, such as auditing firms, tax consulting firms, and others.

Here is the data in table containing the costs-

Services for customers

When creating an accounting business plan template , you need to describe what services you have on offer. Establishing the clientele of the accounting business takes time. It takes words of mouth, referrals, and recommendations for new clients to select your services. You may look at the advertisements or Yellow Pages to figure out the services your business can offer. Then you can add further information and pricing.

You should be prepared well to make profits from your industry. As a general overview of <strong>how to start a business plan template for home bookkeeping</strong>, you may offer the following services.

• Tax services like Tax Planning, Tax Preparation, addressing tax issues (IRS issues, payroll problems, bankruptcy, audit representation etc.)
• Cost Accountant/Management services like Cost and Margin analysis, Audits, Credit Card Processing setup, and Financial Projection
• QuickBooks training, QuickBooks setup, etc.

Along with these, your accountants may add these bookkeeping solutions –

• Sales tax processing
• Payroll processing
• Accounts receivable (invoicing, entry, collection, deposits etc.)
• Accounts payable (bill payments, entry)
• Bank Reconciliations
• Financial statement preparation
• Inventory Management

To add further value to your offerings, your accountant or bookkeeping manager may audit and supervise the work of bookkeepers, answer their queries, and provide quality service. They will also review QuickBooks reports and files to ensure they follow the formats properly and are prepared well.

Marketing Analysis of Accounting and Bookkeeping Business Plan

The market for small accounting business consists of almost every small business in the US. As businesses grow larger than a sole proprietorship, they usually need an expert solution with tax preparation and additional bookkeeping and accounting solutions. Even most of the non-employer proprietorships need accounting services at least once. When most small businesses have CEOs or bookkeepers for full time, some even outsource these services. When making home based bookkeeping business plan template, you need to consider the following questions –

• Who is the targeted audience of accounting and bookkeeping business?

Promotion activities in your business also vary according to your target market. When it comes to choosing an accountant, there is a great importance of referrals and words of mouth among all market segments. There are certain efforts you need to take to stimulate business when starting your own bookkeeping business plan home . You need creating a cost-effective business campaign, based on publicity, direct marketing, advertising, and customer reward program.

• What business target should company achieve?

Your business target clarifies what you want to achieve in your specific goals. You need to have a well-defined target with measurable elements to make an effective goal. There are different types of goals, and your plan should have a variety of goals. There are two different categories of goals for many businesses – marketing and financial targets. You need to tailor your objectives to cover the overall bookkeeping business.

• How much will be the average price of the product?

Here, you need to describe how much you are going to charge for your services. You should consider fee structure for your business clients according to their unique needs. On average, you may charge $55 on an hourly basis for businesses for accounting services. There is a base fee range of $50 to $125 for personal/housing tax preparation. There are also charges for filing in the schedules and forms involved. The personal consulting is also priced at an hourly rate of $25.

Referrals are the effective and most important parts of your business. Therefore, you need to be more aggressive in attracting new clients in the first few years, which will pass on the words and your business, can start experiencing natural growth. Useful and constructive planning needs a broad and detailed understanding of changes, which take place in the market where your company has competition, or want to compete.

SALES FORECAST

You also have to consider the ever-changing and thriving financial markets when starting your own bookkeeping business home . You need considering detailed technical skills in different disciplines like financial analysis, tax, sales, managing growth, and marketing, which are the important components to assess the risks and opportunities in a company.

• Who are your competitors?

When writing a business plan tamplate for bookkeeping business , you need to explain how you are going to stand out in competition. You may want to have detailed technical skills in different disciplines like financial analysis, tax, sales, managing growth, and marketing. These are the important components to assess the risks and opportunities for the company. Your management should develop disciplined planning and methodology to anticipate your economic needs and other important information.

• What is your sales strategy?

It is a strategy for business plan to sell your services to your existing clients, especially before your marketing efforts pay off with upcoming inquiries. You need to inform about the services to all the clients by phone. You may approach the clients through regular sales calls.

• What about your sales forecast?

When writing a business plan template for a bookkeeping business , describe the average cost of a project like tax services ($750), QuickBooks services ($300), and cost accounting ($1000). Bookkeeping services are charged on an hourly basis, i.e. $30 per hour.

Personnel Plan

When creating a business plan for accounting services , you might want to have a bookkeeping manager who will keep track of the work of bookkeepers. He will be in MS or MBA accounting program with years of bookkeeping and professional work experience, especially at the beginning of their graduate school program so they can work through two years of the program and be considered for a move to a full-time position in the third year.

The manager will also move from part-time to a full-time position in a few years to come. In the personnel plan, you need to explain about the staff you are going to hire and the team you have already.

• What staff would be needed for accounting and bookkeeping company?

In this part of the bookkeeping business plan template, explain what staff you would need for your company. You have to explain the key business members of your business. You need to explain whether you would hire full time or part-time staff. Will you need additional support staff to further expand your business? You need to explain key members of your business.

• What will be the average salary of your staff?

You will also have to explain the salary of your staff on average, along with office and other expenses during the first year. You can describe this part in detailed form.

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Financial Plan

This section of your bookkeeping company business plan consists of growth with positive cash flows with operations. It is unimportant to add owner investment or outside investment for business plan . The new line of business is not capital based and it will improve the fixed costs of business. Additional revenues from sales should cover it quickly. At least five clients use service without any problem, as they are all set to use bookkeeper or outsource their bookkeeping. Here are some of the assumptions of financial plan –

Important Assumptions

You need to describe your assumptions on the growth of your business over the next 2 to 3 years. You need to explain the working hours of your bookkeepers before reaching the capacity.

Break-even Analysis

It should be based on fixed costs behind running the business with old lines of your business. It is a significant rise from the breakeven point. You can describe your payroll, capacity, marketing activity, expenses of new bookkeeper, insurance, cost of sales etc.

Projected Profit and Loss

Here, you need to explain the proposed income and expenses of your business as well as the overall profit and loss. Also, explain how you are going to balance them.

Projected Cash Flow

You will need to explain the overall cost requirement in the first year and how you will balance out and get back to the positive cash flow in the next few years to come.

Projected Balance Sheet

If your new business succeeds as you expect, the net worth can improve in your business. Explain the debt of the business as well as external financing.

Business Ratios

You will need to explain the overall ratio of your assets with net worth. Explain how gross margins can be higher than averages.

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Bookkeeping Business Plan

Many business owners don’t enjoy bookkeeping. Even if someone feels okay about it, they might not have enough time. Mistakes can happen easily when owners try to do the books by themselves. Small mistakes or not keeping track of payments can lead to problems which cost a lot of money.

Recognizing the challenges that business owners face in maintaining accurate financial records, our team of Fresno business plan writers have crafted this bookkeeping business plan sample to address these specific concerns. While bookkeeping may appear straightforward, the reality is that it’s surprisingly easy to make mistakes. Therefore, entrusting this responsibility to a small business book keeper is essential for effective financial management. Professional bookkeeping firm in Fresno, California plays a pivotal role in supporting business owners by ensuring the careful and thorough recording of transactions. Beyond the immediate challenge of avoiding errors, these services contribute to the creation of a reliable financial foundation. 

At the end of the day, good bookkeeping businesses give companies reliable financial information, which is really important for making decisions. This article will explain what is a bookkeeping business, why businesses need it, and what kind of services they might get.

What are Bookkeeping Services

Bookkeeping services involve the recording and tracking of a business’s financial transactions. Periodically, bookkeepers are required to prepare financial reports that summarize the performance of the business.

What Services Does a Bookkeeper Provide

Basic business bookkeeping services encompass the management of various financial statements, including:

• Income Statement: Income statement details revenue and expenses over a specific period, providing a comprehensive overview of the company’s financial performance.
• Balance Sheet: Bookkeeping for small business offers insight into the current financial state of the business, the balance sheet outlines assets, liabilities, and equity.
• Cash Flow Statement: The cash flow statement serves as a record of cash and cash-like equivalents entering and leaving the organization. The business bookkeeping service provides clarity on the business’s cash position.
• Statement of Owner’s Equity: Detailing changes in your share of capital, reserves, and retained earnings during a reporting period, this statement offers a snapshot of the company’s financial health.

Why do Businesses Need Bookkeeping

With the list of booming bookkeeping business in the US, ever wondered why your business could benefit from their business bookeeping services? Why bother with bookeeping services? Well, starting how to book keep your business isn’t as simple as it seems.

Bookkeeping is a challenging task. Unless you hold a degree in accounting, the basics of bookkeeping may not come naturally. It’s a learning curve. Often, bookkeeping can be dull. It’s all about numbers. It can be disheartening to see your business expenses go up while revenue takes a dip.

Primarily for starters, book keeping for beginners can eat up a lot of time. And here’s the kicker – bookkeeping is prone to mistakes, and those mistakes can cost you.

Having a professional bookkeeper for business ensures that your books are well-organized, and your deductions are legitimate. The right bookkeeping service can make navigating through any audit a breeze.

Why Choose Bookkeeping Services

For businesses opting to outsource bookkeeping and accounting services, the decision often translates to saving resources, gaining access to high-quality financial services, and receiving proactive advice. This bookkeeping business from home helps business owners in many ways such as:

• Better Budgeting: Gain a clear understanding of where every dollar is spent.
• Easy Tax Filing: Ensure compliance with tax regulations for a stress-free filing experience.
• Audit-Proof Business: Maintain IRS-required documents to make your business audit-proof.
• Understanding Seasonal Changes: Analyze and comprehend your company’s seasonal fluctuations.
• Insight into Financial Metrics: Know your revenue, costs, and overall profitability.
• More Time for Operations: Free up time to focus on core business operations .

How to Start a Bookkeeping Business

If you have a strong background in accounting doing your own bookkeeping and aspire to turn your bookkeeping skills into a bookkeeper small business, you are about to embark on a unique opportunity in the US. Numerous small businesses require assistance in filing taxes and maintaining accurate financial records, making the establishment of a bookkeeper business both profitable and rewarding.

Starting a bookkeeping business doesn’t necessarily require professional training or certifications, but having a good understanding of the costs, along with knowing how to set up a bookkeeping business, can significantly contribute to the success of your bookkeeping startup. If you are searching, “what do i need to start a bookkeeping business” on the web, below is a checklist for starting a bookkeeping business:

Choose Your Market

As you plan to open a bookkeeping business, think about what kind of business you want to help. Maybe you want to focus on a specific type of business or offer catch-up services for those who are behind.

Create a Business Plan

Every new business needs a plan. In your accounting firm business plan, include key points, what services you will offer, why you’re better than others, research about your market and how you’ll tell people about your business. Also, pick a bookkeeping business name that is easy for customers to remember and check if it is not already taken.

Get Certified

You don’t need a lot of education, but having a certification like a certified public bookkeeper can show you’re good at what you do. If you are starting a bookkeeping business with Quickbooks, all you need to do is complete the accounting fundamentals course and pass the bookkeeping certification exam online. 

Register and Get Insured

Decide how your business will be set up. If you’re working alone, you’re a sole proprietor. You might also be a partnership, bookkeeping for LLC , or a corporation. Get insurance to protect yourself if you make a mistake in someone’s books and consider other insurance if you hire employees.

Choose Software

Pick the right software to help with your bookkeeping for business. You might also need other software to help with payments and bills.

Set Up Your Business

Your bookkeeper checklist must include how to set up a bookkeeping business. In starting a bookkeeping and tax preparation business, you will need a website and a CRM system to keep track of your clients.

Decide on Prices

When you’re just starting your small business bookkeeping service,  it’s important to determine how much to charge for your services. As a beginner small business basic bookkeeping, you need to consider your experience. Look at what other bookkeepers in your area charge for small business bookkeeper services.

Find Customers

Now, let’s focus on getting clients for your bookkeeping business. Marketing bookkeeping business through different social media platforms. Building a strong social media presence for your bookkeeping business requires consistency in publishing informative content, and staying engaged with your audience. 

Research Funding Options

If you need funding in starting your own bookkeeping business, research different ways to get it. 

Check with your local bank for small business loans. Having a good business plan can increase your chances of approval.

• Business Credit Card

Consider getting a business credit card for initial expenses. Use it responsibly to build positive credit for your business.

Explore loan programs from the U.S. Small Business Administration (SBA). They provide support for small businesses at different stages of development.

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How Much does it Cost to Start a Bookkeeping Business

If you’re thinking about starting a bookkeeping business from home or starting a virtual bookkeeping business, it’s essential to consider the associated costs and choose the right business model for your goals.

• Home-Based Bookkeeping Business

Costs: The advantage of a home-based business from bookkeeping office setup is lower overhead costs. You may need a dedicated workspace, accounting software subscriptions, a computer, and office supplies.

Considerations: Ensure your bookkeeping home business meets professional standards. Additionally, check local regulations and zoning laws to ensure compliance with running a business from home.

• Virtual Bookkeeping Business

Costs: Setting up a bookkeeping business virtually involves online tools and software subscriptions. Costs may include a professional website, virtual communication tools, and marketing expenses.

Considerations: Emphasize a strong online presence. Invest in a user-friendly website, and explore virtual communication platforms to connect with clients remotely.

How Profitable is a Bookkeeping Business

To start a bookkeeping business,  you need to educate yourself on industry trends. The profitability of a bookkeeping business stems from its low barriers to entry and minimal startup costs. All you truly need are some bookkeeping skills, access to accounting software, and detailed marketing strategies to reach potential clients.

Moreover, the demand for bookkeeping services in the US is significant. Many small business owners lack access to certified bookkeepers and may struggle to manage their cash flow without professional assistance. By establishing a bookkeeping business, you position yourself to provide a valuable and in-demand service that the small business community relies on for financial stability. So, if you’re wondering, “Is a bookkeeping business profitable?” or “is bookkeeping a good business” – the answer is yes, thanks to the combination of accessibility, essential skills, and high demand within the US small business sector .

In the following sections, we present a comprehensive bookkeeping business plan sample for startup bookkeeper service tailored to cater to the needs of small businesses. This bookkeeping sample plan outlines key aspects such as how to market bookkeeping services, bookkeeping business opportunities, and guidance for those looking to start a bookkeeping business with no experience.

EXECUTIVE SUMMARY

“Expert Bookkeeping Services LLC ” (herein also referred to as “Expert Bookkeeping” and “the company”), led by Founder and CEO Garett Johnson, is in the strategic planning development phase. Expert Bookkeeping is poised to transform the financial services landscape through a high-velocity roll-up strategy, focusing on the merger and acquisition of established bookkeeping businesses across the United States.  Through consolidation, the strategic focus is to have a trust platform reaching hundreds of thousands of small and medium-sized businesses through the delivery of expert bookkeeping and focused ancillary services.

The bookkeeping industry is currently undergoing a significant transformation, primarily driven by the onset of a mass retirement of firm owners from the baby boomer generation. A large portion of these businesses are owned by individuals aged 55 and over, a demographic that represents nearly half of all small business owners across the United States. As these entrepreneurs approach retirement, the industry faces a wave of succession challenges, creating an opportune market for mergers and acquisitions. This situation presents a unique opportunity for Expert Bookkeeping to acquire these established firms, ensuring continuity of service while capitalizing on the expertise and client relationships these firms have cultivated over the years.

To implement this strategic vision, Expert Bookkeeping is actively seeking $10 Million in investment capital to initiate the first wave of acquisitions of established bookkeeping firms and to support operational scaling. This investment will be crucial in kickstarting Expert Bookkeeping’s growth trajectory and in ensuring the seamless integration of acquired entities. Additionally, Expert Bookkeeping is aiming to secure $8 Million in tier-one bank loans to complement the investor equity. This strategic mix of equity and debt financing is designed to achieve an approximate 55-45 debt-to-equity (DE) ratio, optimizing the company’s financial leverage and enabling robust capitalization for effective cash flow acquisitions.

To ensure investor returns and guarantee loan repayments, Expert Bookkeeping will be implementing stringent selection criteria for its acquisitions. The company is committed to acquiring only those established bookkeeping businesses that demonstrate strong financial health, a diversified client base, highly skilled employees and seasoned management teams. This selective approach ensures that each acquisition contributes positively to the overall portfolio, mitigating risks and maximizing returns. 

Backed by the experienced and visionary leadership of CEO Garett Johnson, Expert Bookkeeping is positioned for unprecedented success in the financial services sector. Mr. Johnson, has founded and scaled multiple multi-million dollar companies in the American resource, energy, and construction industries, and brings invaluable expertise and strategic acumen to Expert Bookkeeping. With this strategic alignment and robust leadership, Expert Bookkeeping is set to navigate the complexities of the bookkeeping industry, harnessing opportunities and driving innovation.

BUSINESS OVERVIEW

Expert Bookkeeping Services LLC is an upcoming holding company positioned to consolidate the North American bookkeeping landscape through strategic mergers and acquisitions (M&A). The company’s focus is on acquiring established bookkeeping firms across the United States, particularly targeting those led by retiring owners in need of a viable exit strategy. 

Central to Expert Bookkeeping’s acquisition strategy is the consolidation of bookkeeping companies with recurring revenues. These acquisitions, mainly structured as asset sales, involve purchasing key assets of target firms at an average price of $1 Million, excluding accounts receivable. The assets typically include long term client contracts, software licenses, staff contracts and employment agreements, and office leases, which are crucial for maintaining continuity and service quality post-acquisition.

In terms of acquisition options, Expert Bookkeeping offers a mutually beneficial approach that caters to both the interests of the sellers and the strategic goals of the company:

• Cash Option: This allows sales at 2.5 to 3.5 times the firm’s discretionary earnings, offering flexibility with carry back arrangements to accommodate sellers’ financial needs.
• Stock Vesting: This option provides an opportunity for sellers to vest their business and staff for stock in Expert Bookkeeping, potentially leading to a valuation increase of up to 10 times, aligning the interests of the sellers with the growth of the company.
• Annuity Sale: A unique sale model where business owners transfer their firm in return for a stable, long-term annuity, ensuring a secure addition to their retirement income and removing the complexities of traditional buyouts.

Acknowledging the intricate nature of operations governed by differing state regulations, Expert Bookkeeping is set to implement a strategically decentralized operational model. This model involves establishing multiple operating companies across various states in the US, each meticulously adhering to the specific state laws and regulations that govern bookkeeping and accounting services. This decentralized structure is not only a strategic move to ensure full compliance with local legal frameworks but also allows Expert Bookkeeping’s subsidiaries to offer highly customized and localized services.

The creation of state-specific operating entities under the umbrella of Expert Bookkeeping allows for a more nuanced approach to service delivery. It ensures that each subsidiary is deeply attuned to the unique needs and regulatory requirements of its local market, enabling the delivery of services that are both relevant and compliant. This model also facilitates the building of strong, trust-based relationships with local clients and stakeholders, as each state entity operates with a thorough understanding of the regional business environment.

As part of the company’s strategic vision, Expert Bookkeeping is prioritizing the acquisition and establishment of operating companies across the United States. The focus is on regions with substantial market potential, characterized by their vibrant and diverse small business sectors. These areas offer fertile ground for growth and consolidation in the bookkeeping industry, aligning with Expert Bookkeeping’s goals for national expansion and service integration.

The ambitious target set by Expert Bookkeeping for its first year of operation is to acquire 20 firms, laying the groundwork for its expansive growth strategy. This initial phase of acquisitions is pivotal, as it sets the tone for the company’s market presence and operational effectiveness. Looking further ahead, Expert Bookkeeping has outlined a comprehensive growth plan to expand its portfolio to 800 firms by the end of year five. This rapid expansion underscores the company’s commitment to becoming a dominant player in the North American bookkeeping landscape.

This growth trajectory transcends mere numerical increase—it strategically leverages economies of scale, broadens the client base, and enhances the overall quality of service. Expert Bookkeeping’s targeted acquisition of firms, each serving at least 150 clients, is a deliberate strategy to amass comprehensive data on business needs and patterns. Utilizing this data, Expert Bookkeeping aims to cross-sell tailored services, cultivating a cohesive network of bookkeeping expertise. By integrating these diverse operations, Expert Bookkeeping will capitalize on the synergies to create a robust portfolio of services. This significant expansion will enable Expert Bookkeeping to offer a comprehensive range of services to a wider array of clients, from small local businesses to larger, more complex organizations.

This calculated growth is indicative of Expert Bookkeeping’s confidence in its business model and its ability to adapt and thrive in a competitive market. With each acquisition, the company aims to strengthen its market position, enhance its service offerings, and cement its reputation as a leading provider of bookkeeping services in North America.

MISSION STATEMENT

Our mission is to empower over 150,000 small businesses across the United States, providing unparalleled bookkeeping services that go beyond numbers, fostering financial clarity and peace of mind for our clients. 

VISION STATEMENT 

Our vision is to be North America’s largest consolidator of bookkeeping firms, setting new industry standards through innovation, integrity, and a relentless commitment to client success. 

CORE VALUES

Expert Bookkeeping’s culture is built upon a foundation of core values that shape how the company interacts with stakeholders. These values are fundamental to all business activities and decisions and are deeply ingrained in the company’s ethos.

Collaboration

Expert Bookkeeping champions the principle of collaboration, recognizing that collective effort is essential to achieve common goals. By fostering teamwork across its network of acquired bookkeeping businesses, Expert Bookkeeping ensures a unified approach to service delivery that benefits all stakeholders.

Expert Bookkeeping holds integrity as a guiding beacon in all its engagements, ensuring fair dealings with every stakeholder. This commitment underpins the company’s operations as it expands its holdings, setting a standard for transparency and ethical practices in every acquisition and integration.

Expert Bookkeeping is committed to excellence, striving for the highest quality in service and performance. The company endeavours to elevate the standards of the bookkeeping industry by integrating best practices and delivering superior value to clients.

In a rapidly evolving financial landscape, Expert Bookkeeping values innovation, encouraging a culture of creativity and forward-thinking. The company seeks to leverage the latest technologies and methodologies to enhance the efficiency and effectiveness of its bookkeeping services.

Responsibility

As a holding company acquiring bookkeeping businesses, Expert Bookkeeping understands its responsibility to the employees, clients, and communities of the firms it integrates. The company is dedicated to responsible stewardship that honours the legacies of these businesses while guiding them toward sustainable growth and success.

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GOALS AND OBJECTIVES

MARKET ANALYSIS

In the progressive landscape of the bookkeeping services industry, understanding market trends, government regulations, and the competitive landscape is critical to positioning Expert Bookkeeping for success. This market analysis will provide a comprehensive review of these key factors, providing valuable insights into the industry that will help the company develop a winning strategy.

Bookkeeping Services Industry

The bookkeeping services industry is a specialized segment within the broader accounting sector, primarily focused on the systematic recording and organizing of financial transactions for businesses and individuals. This industry plays a crucial role in the financial management ecosystem, offering services essential for accurate financial reporting and effective business operations. Key aspects of the bookkeeping services industry include:

• Recording Financial Transactions: Bookkeepers meticulously track and record all financial transactions, including sales, purchases, payments, and receipts. This is foundational for maintaining an accurate and up-to-date ledger of a company’s financial activities.
• Reconciliation of Accounts: Bookkeepers regularly reconcile bank statements with internal financial records to ensure consistency and accuracy in financial reporting.
• Managing Accounts Receivable and Payable: They keep track of money owed to the business by clients (accounts receivable) and money the business owes to suppliers or creditors (accounts payable).
• Preparing Financial Statements: While not as comprehensive as those prepared by accountants, bookkeepers often compile basic financial statements, such as profit and loss statements, balance sheets, and cash flow statements, which are vital for internal decision-making.
• Payroll Processing: Many bookkeeping services include payroll management, ensuring accurate calculation of wages, managing deductions, and ensuring compliance with tax requirements.

The bookkeeping services industry is particularly vital for small and medium-sized enterprises (SMEs) that may not require or cannot afford full-scale accounting services but still need professional assistance in managing their financial records. With the advent of technology, many bookkeeping services now integrate software solutions, cloud-based tools, and automation to enhance the efficiency, accuracy, and accessibility of financial data for their clients.

Global Bookkeeping Services Market Size

The global bookkeeping market, an integral part of the accounting services industry, is on an impressive growth trajectory. In 2022, the market’s valuation stood at $520.32 Billion, and projections indicate an increase to $542.17 Billion in 2023, representing a compound annual growth rate (CAGR) of 4.2%. This growth is reflective of the escalating demand for detailed and accurate financial record-keeping across various sectors. The expansion of the market is being fueled by a complex blend of economic factors, including fluctuating commodity prices and supply chain challenges, which have intensified the need for comprehensive financial management and oversight.

Looking forward, the bookkeeping market is expected to reach $622.67 Billion by 2027, growing at a CAGR of 3.5%. This growth is significantly influenced by regulatory reforms in the financial sector, which necessitate deeper and more specialized knowledge in financial compliance and reporting. Such reforms create new opportunities for accounting firms to offer expanded services to clients. For instance, significant financial regulatory reforms in countries like China and the United Kingdom are reshaping the financial landscape, necessitating more comprehensive bookkeeping and auditing services.

United States Bookkeeping Services Market Size

The United States bookkeeping services industry has been exhibiting a notable growth trajectory, primarily driven by technological advancements and the increasing adoption of digital solutions. In recent years, the integration of cloud-based software and mobile applications has introduced a new technology platform to the bookkeeping landscape, making services more accessible, efficient, and user-friendly for businesses of all sizes. This shift towards digital platforms and automation has significantly enhanced the accuracy and efficiency of bookkeeping processes. The convenience and flexibility offered by these digital solutions have been particularly beneficial for remote work environments and businesses with geographically dispersed operations. The trend towards digitalization in bookkeeping aligns with the broader movement within the financial services sector towards embracing technology to streamline operations and improve service delivery.

MARKET TRENDS 

This section provides an overview of the latest trends in the bookkeeping services industry helping the company stay ahead of the competition and identify new growth opportunities. By exploring key market drivers, the impact of technological advancements, and the challenges prevalent in the industry, Expert Bookkeeping can strategically refine and evolve its business approach. This proactive adaptation is essential for aligning with evolving customer requirements and the dynamic landscape of the market, ensuring the company’s sustained success and leadership in the field.

ENCORE ENTREPRENEURS

A notable trend in the U.S. small business sector is the significant presence of “encore entrepreneurs”—business owners aged over 55 years. This demographic represents a substantial portion of small business ownership, holding 50.9% of U.S. small businesses, as highlighted in a survey by SCORE. Many of these seasoned entrepreneurs are nearing retirement age, which presents a unique dynamic in the market.

For Expert Bookkeeping, this trend presents a significant opportunity. Given that 99.9% of all U.S. businesses are considered small businesses, a large portion of the 326,000 bookkeeping businesses in the country are owned by individuals in this age group, most of whom may not have a clear succession plan. The company can capitalize on this situation by offering these business owners viable exit strategies through acquisitions. This approach not only provides a seamless transition for the retiring owners but also enables Expert Bookkeeping to rapidly expand its footprint and client base in the market. 

RELIANCE ON BOOKKEEPING

A key trend in the financial and accounting landscape is the sustained reliance on bookkeeping services by small businesses. Despite the growing prevalence and sophistication of financial software programs, small businesses continue to prefer the personalized services of professional bookkeepers. This trend is primarily due to the cost-prohibitive nature of advanced accounting software and in-house expertise, which remains inaccessible for most small businesses. As a result, while larger corporations increasingly automate their financial functions, small businesses continue to depend on bookkeepers for their financial management needs. 

Expert Bookkeeping is strategically well-placed to address this need. Given its focus on acquiring bookkeeping businesses, the company is poised to retain and expand the client base of these acquired entities. By maintaining strong relationships with existing clients and implementing best practices across its network, Expert Bookkeeping can ensure high-quality, consistent service delivery. This approach not only secures client loyalty but also positions the company’s subsidiaries as a reliable and trusted partner for small businesses seeking expert bookkeeping services.

REGULATORY CHANGES

The challenge of keeping up with regulatory change is a significant trend within the bookkeeping and accounting sector. According to the Accounting Today 2022 Year Ahead Survey, 51% of firms cite keeping abreast of legislative updates as their primary obstacle. As the pace of regulatory modifications accelerates, ensuring compliance remains a critical concern for many firms. However, the industry is adapting; statistics from Wolters Kluwer indicate that a notable percentage of small and large firms reported a better tax season in 2022 compared to the previous year. 

For Expert Bookkeeping, this trend underscores the importance of establishing a robust compliance framework within its operational model. Having an operating company in each state where it acquires firms will allow the company to navigate the complex and ever-changing regulatory landscape effectively. This structure will enable Expert Bookkeeping to swiftly roll out updates and compliance strategies across its portfolio of acquired firms. 

GOVERNMENT REGULATIONS

Navigating the intricate realm of mergers and acquisitions (M&A) within the United States requires a strategic approach aligned with the comprehensive set of federal and state laws that govern these activities. These laws encompass securities, antitrust provisions, state corporation statutes, and regulations specific to operational industries. These frameworks are not just guidelines but essential components that ensure the legality and viability of any M&A activity. Within this complex environment, transaction agreements and related contracts typically define the governing law, with pr ivate deals frequently defaulting to the established legal infrastructures of New York or Delaware.

While Expert Bookkeeping primarily engages in asset purchases, which often fall outside the strict purview of certain M&A regulations, the company will remain vigilant in navigating the regulatory landscape. In instances where Expert Bookkeeping opts for stock acquisitions of bookkeeping or accounting firms, the company will adhere rigorously to relevant securities and antitrust laws, ensuring compliance with both federal and state regulatory requirements. This section delves into the government regulations that are crucial for Expert Bookkeeping’s strategic M&A planning, detailing how the company ensures compliance with all pertinent laws and utilizes these frameworks to safeguard every transaction’s integrity and succe ss.

FEDERAL REGULATIONS

Securities Act of 1933

The Securities Act of 1933 represents a cornerstone of market regulation in the United States. Enacted after the stock market crash of 1929, its primary purpose is to ensure greater transparency in financial statements so investors can make informed decisions. The act mandates that any offer or sale of securities, whether through a national exchange or over-the-counter, must be registered unless an exemption applies. For businesses like Expert Bookkeeping, this means that all securities offered as part of their M&A activities, whether in raising capital for acquisitions or in issuing stock to sellers as part of the purchase consideration, must comply with the rigorous disclosure requirements of this act.

For Expert Bookkeeping, adherence to the Securities Act of 1933 is vital when structuring acquisition deals that involve the exchange of securities. The act requires the company to file a registration statement with the US Securities and Exchange Commission (SEC) which is accessible to the public, providing essential details about the business’ financial health, the securities offered, and the risks involved. Compliance with the act not only fosters trust with potential investors and firm owners considering a sale but also minimizes legal risk, ensuring that all transactions are conducted transparently and equitably.

Securities Exchange Act of 1934

The Securities Exchange Act of 1934, established as a follow-up to the Securities Act of 1933, plays a pivotal role in regulating the secondary market for securities transactions. This act primarily focuses on transactions between parties other than the original issuer, such as trades executed through brokerage companies. For Expert Bookkeeping, while the direct implications may be less pronounced since it does not target publicly traded firms for acquisition, the Act’s overarching influence on market practices and ethical standards still holds relevance. The 1934 Act’s key function is to enhance market transparency, ensuring that companies provide essential information that investors require for making informed decisions. This is achieved through various reporting requirements and oversight mechanisms.

Even though Expert Bookkeeping’s acquisitions are focused on private firms, the regulatory environment shaped by the Securities Exchange Act of 1934 indirectly influences its operations. The Act established the Securities and Exchange Commission (SEC), which enforces securities laws and ensures the integrity of the financial markets. While Expert Bookkeeping may not be directly involved in the public trading of securities, the overall market environment, investor confidence, and ethical practices influenced by the SEC’s regulations indirectly impact the business landscape in which Expert Bookkeeping operates. Additionally, the principles of transparency and fair dealing, central to this Act, align with Expert Bookkeeping’s commitment to ethical business practices in all its M&A transactions.

Committee on Foreign Investment in the United States (CFIUS)

CFIUS is a critical regulatory body for foreign investments in the United States, which holds particular relevance for Expert Bookkeeping, an American entity planning to acquire businesses in the US. CFIUS reviews transactions involving foreign investment to determine their impact on national security. For Expert Bookkeeping, this means navigating an additional layer of oversight to ensure that its acquisitions comply with US national security considerations. It is imperative for Expert Bookkeeping to proactively address any CFIUS concerns and demonstrate that its acquisitions pose no security risks, thereby facilitating smooth transaction approvals and maintaining compliance with US regulations. This vigilance in adhering to CFIUS review processes is essential for the successful execution of the company’s expansion strategy in the US market.

STATE REGULATIONS

The landscape of state regulations in the United States plays a significant role in the operational framework of Expert Bookkeeping, particularly given its strategy to acquire bookkeeping firms across various states. Each US state has its own set of laws governing corporate activities, including incorporation, dissolution, board duties, mergers, business combinations, shareholder voting, and amendments to organizational documents. These laws consist of both statutory provisions and judicial decisions, forming a complex matrix of regulations that vary from state to state.

A key aspect of Expert Bookkeeping’s strategy is understanding and navigating these diverse state laws, especially since they significantly impact merger and acquisition activities. While many US corporations choose to incorporate in Delaware due to the Delaware General Corporation Law (DGCL) and the influential common law decisions of Delaware courts, Expert Bookkeeping must also consider the specific laws of each target company’s state of incorporation. This is because, while there are common elements in corporate laws across states, significant differences can exist, particularly in aspects related to M&A activities and directors’ obligations.

COMPETITIVE ANALYSIS

The bookkeeping services industry is characterized by its highly competitive nature, with a diverse array of players ranging from individual practitioners to large firms. To better understand Expert Bookkeeping’s position in the market, a competitive analysis has been conducted to identify the primary local competitors and the available opportunities.

PRODUCTS AND SERVICES

Expert Bookkeeping is poised to generate revenue through a diversified portfolio of products and services, offered across its network of acquired subsidiary firms. As Expert Bookkeeping evolves, its strategic focus will be on expanding and refining these offerings to align with market demands and client needs, ensuring a broad and effective service range that reinforces its position in the financial services sector. 

CORE OFFERINGS

At the heart of Expert Bookkeeping’s service offerings are its core bookkeeping services, designed to cater to the unique needs of small businesses, particularly those with fewer than 150 employees. This comprehensive suite of services encompasses:

The specific range of services offered may vary across the bookkeeping firms acquired by Expert Bookkeeping. This diversity is vital to maintain business continuity and cater to the distinct needs of various local markets and client bases. Over time, Expert Bookkeeping plans to standardize these services across its network of firms. This standardization aims to harmonize service delivery, ensuring consistency in quality and approach, while still allowing for the necessary flexibility to meet localized business requirements. The goal is to create a uniform standard of excellence in bookkeeping services that underscores Expert Bookkeeping’s commitment to reliability, efficiency, and client satisfaction across its entire network.

PAYMEN T TERMS

Expert Bookkeeping’s payment terms are strategically structured around the concept of recurring revenue. This model ensures a consistent and predictable cash flow, crucial for the company’s financial health and operational stability. Key aspects of these terms include:

• Prepaid Service Packages: Clients will be required to prepay for fixed service packages. This arrangement ensures transparency and simplifies budgeting for both parties.
• Annual Subscriptions: Base services will be available through annual or multi-year subscriptions. This payment plan provides a stable financial plan for both the client and the company.
• Membership Model for Specific Services: For certain services, particularly specialty and financial services, Expert Bookkeeping will implement a membership model. Payments for these services will be made in advance on a recurring basis.
• Payment Methods: The company will be accepting various payment methods for the convenience of its clients, including electronic funds transfer (eTRSF), cheque, and credit card.
• No Credit Terms: Expert Bookkeeping will operate strictly on a prepayment basis. All services will be provided only after payment is received, either as prepaid retainers or as part of prescribed service packages.

COMPETITIVE ADVANTAGES  

The following competitive advantages will differentiate Expert Bookkeeping from competing M&A firms:

Comprehensive Acquisition Strategy

Expert Bookkeeping stands out through its rapid yet strategic acquisition model, targeting firms with retiring owners. This not only provides a seamless transition for companies looking for succession planning but also allows Expert Bookkeeping to rapidly consolidate market share. Competitors often grow organically or through fewer, more selective acquisitions, which can be slower and less impactful in market consolidation.

Tailored Client Services

With acquisitions of firms that have established client bases, Expert Bookkeeping can offer personalized bookkeeping services that are fine-tuned to meet the specific needs of different businesses. This level of customization is a competitive edge over rivals that may offer more generic, one-size-fits-all solutions.

Decentralized Operational Model

Expert Bookkeeping’s decentralized structure enables adherence to state-specific regulations and offers localized services that competitors with a more centralized approach may struggle to match. This allows for greater flexibility and responsiveness to regional market dynamics.

Acquisition Options

Offering flexible acquisition options like cash buyouts, stock vesting, and annuity sales provides exiting owners with attractive exit strategies. This versatility is a distinct advantage over competitors who may offer more rigid and less appealing terms for acquisition.

Cloud and AI inclusive

Most business clients prefer an in person bookkeeper they can develop a professional relationship with.  However, there is a growing number of clients moving to cloud-based bookkeeping, and Expert Bookkeeping will acquire and develop cloud based services and grow its expert use of AI as it develops in the field of bookkeeping and accounting.

KEY SUCCESS FACTORS

Expert Bookkeeping’s success will be driven by the following key factors:

• Adequate Capital Resourcing: Expert Bookkeeping’s ability to secure sufficient starting capital is imperative. This financial backbone will allow the company to pursue rapid acquisitions and foster growth without constraints, laying the groundwork for a robust market entry and expansion.
• Community-Driven Referral Networks: Establishing a strong referral network within the bookkeeping community is essential. By creating a system that encourages peer-to-peer recommendations, Expert Bookkeeping can tap into a viral marketing mechanism that fosters organic growth and enhances its market presence through trusted word-of-mouth endorsements.
• Adherence to Regulatory Compliance: As Expert Bookkeeping operates across different states, strict compliance with each state’s regulatory requirements is essential. Compliance will prevent legal pitfalls and maintain the company’s reputation as a trustworthy service provider.
• Data-Driven Service Expansion: By systematically gathering and analyzing client data from each acquisition, Expert Bookkeeping can uncover patterns and needs that inform the development of new, cross-sellable services. This proactive approach will facilitate tailored service offerings, fostering customer loyalty and opening new revenue streams.
• Operational Scalability: As the company grows, its operational infrastructure must also scale. Investing in technology, processes, and talent that can support a larger, more diverse operation will be key to managing an increasing number of transactions and client relationships effectively.
• Continuous Improvement and Innovation: Staying committed to continuous improvement and innovation in service offerings will ensure that Expert Bookkeeping remains competitive. Innovation will drive efficiency, enhance the client experience, and open new revenue streams.
• Risk Management: Implementing comprehensive risk management strategies to identify, assess, and mitigate potential risks associated with M&A and day-to-day operations. Effective risk management will protect the company’s assets and ensure business continuity.

SALES AND MARKETING PLAN

The sales and marketing plan lays out Expert Bookkeeping’s strategy for expanding the company’s portfolio of firms and customer base. It focuses on the utilization of key marketing channels and tactics aimed at both ends of the business spectrum—the acquisition side, where the goal is to identify and secure valuable bookkeeping firms for consolidation, and the customer side, where the aim is to broaden the client base and deepen market penetration. Additionally, the plan will identify the strengths and weaknesses of the company, opportunities for growth and expansion, and potential threats that could impact business operations.

TARGET BUSINESSES FOR ACQUISITIONS

Expert Bookkeeping’s acquisition strategy is sharply focused on targeting established bookkeeping firms within the United States, a market rich in potential with over 319,000 payroll and bookkeeping services businesses as of 2021. This substantial number, which has been on an upward trend, increasing by 2.2% from 2020, presents a fertile ground for Expert Bookkeeping’s expansion plans.

A key aspect of this strategy is the demographic trend within the industry. Approximately 50.9% of these firms are owned by individuals over 55 years old. This translates to about 162,000 firms potentially entering the market for sale or closure over the next 15 years, as these owners approach retirement age. This equates to an average of around 10,800 bookkeeping businesses per year becoming available for acquisition.

Expert Bookkeeping’s Acquisition Target

The company will be prioritizing firms that have a solid market presence and a proven track record, typically those with a history of stability and profitability. By acquiring these firms, Expert Bookkeeping aims to not only expand its geographical reach but also to enrich its service portfolio with the experience and expertise these established entities bring. The plan is to strategically select firms in regions with high business activity, specifically those with a substantial presence of small and medium-sized enterprises. This approach will enable Expert Bookkeeping to access a broader market segment and cater to a wider range of client needs, thereby bolstering its position as a leading provider in the bookkeeping services industry.

ACQUISITION CRITERIA

To ensure alignment with its strategic vision and operational excellence, Expert Bookkeeping has established a set of comprehensive criteria for the acquisition of bookkeeping firms. These criteria are meticulously designed to identify firms that not only fit Expert Bookkeeping’s growth trajectory but also promise long-term sustainability and profitability. The following are the key criteria:

• Business Maturity: Target firms are typically those where the owner or partner is nearing retirement, looking for a smooth transition and liquidity. This focus helps in acquiring firms with established market presence and a legacy of successful operations.
• Established Entities: Expert Bookkeeping prioritizes well-established firms over startups. Firms with a substantial track record and a strong client base are preferred, ensuring that the acquisitions bring proven expertise and reliability.
• Financial Health: Essential to the selection process is the firm’s financial performance, particularly those exhibiting over 30% discretionary owner’s income. This indicator of profitability ensures that the acquisitions are financially sound investments for Expert Bookkeeping.
• Relationship Longevity: Firms with long-standing relationships with clients and staff indicate stability and trust, traits that are highly valued in the bookkeeping industry.

By adhering to these criteria, Expert Bookkeeping ensures that each acquisition is strategically sound, financially viable, and operationally synergistic with its overall business model, paving the way for sustainable growth and market leadership in the bookkeeping services sector.

Key Channels

Broker Engagement

Expert Bookkeeping will be partnering with seasoned national business brokers, tapping into their well-established networks in the bookkeeping services sector. These brokers will be instrumental in locating potential acquisition targets that match Expert Bookkeeping’s specific requirements, focusing on aspects like financial stability, client diversity, and proven business maturity. By utilizing the extensive connections and insights of these brokers, Expert Bookkeeping aims to streamline the process of discovering and approaching suitable bookkeeping firms for acquisition, significantly enhancing the efficiency and effectiveness of its expansion efforts. 

Direct Digital Marketing

To complement the company’s traditional marketing strategies, Expert Bookkeeping will deploy a direct digital marketing plan. This multi-faceted approach will focus on leveraging the internet and email marketing to attract and engage with potential acquisition targets and clients. The plan includes:

• Website Optimization: Expert Bookkeeping will focus on creating a user-friendly, informative, and visually appealing website, serving as the digital gateway to its services and acquisition opportunities. The website will be optimized for search engines to improve visibility and accessibility, making it easier for potential target firms to find Expert Bookkeeping online. Regular updates, rich in relevant content, will be essential to maintain engagement and inform visitors about the company’s expertise, services, and unique value proposition in the bookkeeping services market.
• Search Engine Optimization (SEO): Implementing a robust SEO strategy will be crucial for Expert Bookkeeping to enhance its online visibility. This will involve optimizing the website with relevant keywords, ensuring a responsive design for mobile users, and improving overall website performance and speed. A higher ranking in search results will increase the likelihood of attracting potential bookkeeping firms for acquisition.
• Email Marketing, Blogs and more: Expert Bookkeeping will leverage email marketing to directly connect with its target audience. This will include the distribution of newsletters, industry updates, and personalized outreach to build and nurture relationships with potential acquisition targets. The focus will be on delivering valuable content and insights, keeping the audience engaged, and positioning Expert Bookkeeping as a thought leader in the bookkeeping services sector.

TARGET CLIENTS

The targeted client base of Expert Bookkeeping, following its acquisitions of various bookkeeping firms, primarily focuses on the small and medium business (SMB) sector in the United States. This segment represents a vast majority of the American business landscape, with 99.9% of businesses classified as small. This translates to a substantial number, approximately 33,185,550 small businesses nationwide, offering a rich and diverse market for Expert Bookkeeping’s expanded services.

CLIENT PROFILES

The following outlines the key segments within the SMB market that Expert Bookkeeping aims to serve: 

These are the companies Expert Bookkeeping will serve:

• Startups and New Businesses: Often operating with limited resources, these businesses require efficient bookkeeping to manage their finances effectively from the outset. 
• Established Small Businesses: This segment includes businesses with a stable customer base and consistent revenue streams. They often seek to outsource bookkeeping to streamline operations and focus on core business activities. 
• Rapidly Expanding SMEs: Businesses in expansion phases face increasingly complex financial management challenges. This group often requires advanced bookkeeping expertise that can manage this complexity, supporting their growth trajectory.
• Service-Based SMBs: Including professional services, healthcare providers, and consulting firms, these businesses often deal with a variety of billing models and require detailed financial tracking and reporting. 

Expert Bookkeeping recognizes the importance of a versatile and effective marketing strategy, one that harmonizes the unique strengths of acquired firms with overarching corporate objectives. The following strategies provide a standardized guide with a dual focus: client retention and acquisition. While each acquired firm retains its marketing autonomy, this guide offers a foundational approach to ensure consistency and effectiveness across the Expert Bookkeeping network.

Client Retention Strategies

• Regular Communication and Engagement: Expert Bookkeeping will maintain ongoing communication with clients through newsletters, updates, and personalized outreach. This continuous engagement helps build stronger relationships, demonstrating a commitment to addressing individual client needs.
• Service Quality Assurance: Implementing systematic service quality reviews and soliciting client feedback ensures the maintenance of high standards. This approach not only identifies improvement areas but also fosters client trust and satisfaction.
• Exclusive Offers and Added-Value Services: Providing clients with exclusive offers or additional services, like advanced analytics or tax advice, enhances perceived value. These unique offerings differentiate Expert Bookkeeping from competitors, fostering client loyalty.

Each of these strategies is crafted to deepen existing client relationships, securing long-term loyalty and contributing to sustainable growth within Expert Bookkeeping’s expanding portfolio.

Client Acquisition Strategies

• Content Marketing and SEO: Developing a strong online presence through content marketing, such as blogs, whitepapers, and how-to guides related to bookkeeping, can attract businesses looking for financial solutions. Optimizing content for search engines will increase visibility and draw organic traffic to Expert Bookkeeping’s website.
• Client Testimonials and Case Studies: Showcasing success stories and testimonials from satisfied clients can build credibility and demonstrate Expert Bookkeeping’s capacity to deliver quality services. This approach can be particularly effective in convincing potential clients of the value and reliability of Expert Bookkeeping’s offerings.
• Strategic Partnerships: Forming partnerships with other businesses that serve the same target market, such as accounting firms or financial advisors, can create referral opportunities. These partnerships can also offer bundled services, appealing to clients looking for comprehensive business solutions.

By executing these strategies, Expert Bookkeeping aims to expand its client base, reaching new markets and sectors within the small and medium business community. This multi-faceted approach to client acquisition is designed to ensure a steady influx of new clients, contributing to the overall growth and market penetration of the Expert Bookkeeping.

KEY PERFORMANCE INDICATORS

To effectively track the company’s progress and ensure its success, Expert Bookkeeping has identified the following KPIs:

SWOT ANALYSIS

OPERATIONAL PLAN

As the backbone of any successful business, the operational plan outlines the fundamental actions that will be taken to ensure the company runs efficiently and effectively. This section provides a comprehensive overview of Expert Bookkeeping’s day-to-day activities, covering critical areas such as the mandates of each company layer, acquisition processes, integration strategies, data gathering, standardization, compliance, and risk management.

Operating Company

Within Expert Bookkeeping’s structure, the operating companies function as the practical executors of the group’s strategic vision. Each operating company is a pivotal entity, charged with the day-to-day management and operational success of the acquired bookkeeping firms. They serve as the direct point of contact for the bookkeeping entities, facilitating the provision of resources and guidance necessary to maintain and enhance service delivery.

The mandates for the operating company include the following:

• Operational Excellence: Ensures that each bookkeeping firm under its purview operates at peak efficiency, with a focus on delivering high-quality services to clients.
• Local Market Adaptation: Adapts and responds to the unique demands and regulatory requirements of the local market in which it operates, guaranteeing compliance and competitive advantage.
• Resource Allocation: Manages and allocates resources effectively, including human capital, technology, and finances, to meet operational needs and strategic objectives.
• Performance Management: Monitors and manages the performance of bookkeeping firms, setting targets, and implementing strategies to achieve them.
• Market Development: Identifies and capitalizes on new market opportunities within the region, supporting the company’s overall growth ambitions.

By fulfilling these mandates, the operating companies play a crucial role in Expert Bookkeeping’s expansion and consolidation efforts. They bridge the gap between the strategic objectives set by the Active Management Company and the on-the-ground realities of the bookkeeping firms, ensuring that the company’s overarching goals translate into tangible operational successes.

Subsidiaries, or the individual bookkeeping firms within the Expert Bookkeeping, are the front-line entities directly delivering services to clients. These firms are where the company’s overarching strategies are implemented on a client-facing level, and where the tangible benefits of being part of a larger organization are realized.

The mandates for a subsidiary include:

• Operational Integration: Seamlessly integrate the processes, technologies, and culture of Expert Bookkeeping while maintaining the unique strengths and characteristics that define the subsidiary’s local market presence.
• Financial Reporting: Maintain meticulous financial records and reporting, contributing to the company’s consolidated financial health and providing insights for strategic decision-making.
• Local Compliance: Adhere strictly to local regulations and industry standards, ensuring the subsidiary operates within legal and ethical boundaries.
• Business Development: Actively seek to grow the client base within the local market through targeted business development activities, leveraging the subsidiary’s deep understanding of local business environments.
• Quality Assurance: Uphold the highest standards of quality in service delivery, aligning with Expert Bookkeeping’s commitment to excellence and continuous improvement.

These mandates are critical for the subsidiaries to thrive within the Expert Bookkeeping’s ecosystem. They ensure that each bookkeeping firm contributes positively to the company’s collective objectives while maintaining the agility to operate effectively within their respective local markets.

Expert Bookkeeping will adhere to the federal laws discussed in Section 3.2 Government Regulations, as well as other pertinent regulations, bylaws, and standards. The company will take all necessary steps to ensure that all the required government permits are obtained to conduct business operations legally and ethically.

Wages and Hours

The Fair Labor Standards Act (FLSA) establishes the minimum wage requirements and overtime pay standards to protect workers from exploitation. Under the FLSA, employers are required to pay non-exempt workers a minimum wage of $7.25 per hour and provide overtime pay at a rate of one-and-a-half times the regular rate for hours worked beyond the standard workweek. Many states have their own minimum wage laws. In situations where employees are covered by both state and federal minimum wage laws, they are entitled to the higher of the two wages.

Moreover, the act highlights the necessity of accurate record-keeping, requiring employers to maintain detailed records of wages and hours worked. Expert Bookkeeping’s compliance with these regulations showcases its dedication to fair wages and adherence to labor laws, prioritizing the well-being and rights of all team members.

Health and Safety

The Occupational Safety and Health Administration (OSHA) plays a vital role in promoting and enforcing health and safety regulations in the workplace. Under the Occupational Safety and Health (OSH) Act, OSHA examines the safety and health conditions of employees, establishing standards that employers must adhere to. Employers have a responsibility to ensure basic safety measures are in place to provide a healthy and safe working environment. In line with this, Expert Bookkeeping will proactively implement and maintain safety protocols, provide ongoing training to employees, and regularly assess and improve workplace conditions to ensure compliance with OSHA regulations.

RISK ANALYSIS

ORGANIZATIONAL PLAN

The organizational plan outlines the company’s approach to managing human capital, including the organizational structure, management team and personnel plan. This section will be regularly reviewed and updated to ensure the company remains adaptable and responsive to emerging opportunities and challenges.

ORGANIZATIONAL STRUCTURE

Expert Bookkeeping has a well-defined organizational structure to ensure efficient coordination among various departments and teams. The structure is designed to promote collaboration and communication, as well as to provide clear lines of authority and responsibility.

Expert Bookkeeping’s Proposed Organizational Structure

As the company grows and expands through acquisitions, the organizational chart will be revised to include additional roles and departments, with a constant focus on maintaining operational efficiency.

OWNERSHIP STRUCTURE

The ownership structure of Expert Bookkeeping is designed to align with its strategic objectives and growth plans, with an initial capital requirement of $10 million to kickstart operations. This section outlines the proposed share distribution and investment terms to attract potential investors and establish a solid financial foundation for the company.

MANAGEMENT TEAM

Expert Bookkeeping is currently engaged in a strategic recruitment initiative, focused on identifying and onboarding key executive talent to lead the company. The aim is to bring together a group of visionary leaders who can shape the strategic direction of Expert Bookkeeping and ensure the successful implementation of the company’s merger and acquisition objectives.

In particular, the company is actively recruiting for the following roles with the corresponding qualifications:

Chief Executive Officer (CEO)

The CEO will be responsible for overseeing the overall strategic d irection and growth of Expert Bookkeeping. The executive that will be recruited should possess:

• Extensive experience in leadership roles, preferably in the accounting or financial services sectors;
• A proven track record in executing M&A strategies and business development;
• Exceptional communication and interpersonal skills for effectively managing diverse teams and fostering a collaborative corporate culture;
• A results-driven mindset, with the capacity to set and achieve ambitious growth targets;
• Thorough understanding of financial management and strategic planning to ensure long-term sustainability.

Chief Financial Officer (CFO)

The CFO will be primarily responsible for managing and overseeing the financial operations of the Expert Bookkeeping. The executive that will be recruited for this role should ideally have:

• CPA certification, along with extensive experience in financial leadership roles in the accounting or financial services sectors;
• Demonstrated proficiency in financial strategy, planning, and reporting, along with a comprehensive understanding of financial regulatory requirements;
• A proven track record in efficiently streamlining financial operations and implementing effective financial management strategies;
• Exceptional analytical skills, with the capacity to interpret complex financial data and provide insightful financial advice for M&A activities;
• Experience in optimizing financial deals and maximizing growth opportunities, thereby contributing to business development.

Chief Operating Officer (COO)

The COO will hold the responsibility of managing the day-to-day operations and driving the execution of Expert Bookkeeping’s strategic initiatives. The ideal executive to fill this role should possess:

• Demonstrable experience in pivotal operational leadership positions, preferably within the accounting or financial services industries;
• A proven track record of successfully implementing strategic plans and overseeing comprehensive operational activities;
• Excellent problem-solving and decision-making skills to drive improvements in operational efficiency and effectiveness;
• Capability to inspire and manage cross-functional teams, fostering a motivated work environment and promoting a unified corporate culture;
• Comprehensive understanding of industry best practices, trends, and regulatory requirements to ensure compliance and risk reduction.

Chief Marketing Officer (CMO)

The CMO will spearhead the marketing strategy and initiatives for Expert Bookkeeping, specifically targeting engagement and acquisition efforts toward bookkeeping firms. The executive recruited for this role is expected to possess:

• Proven leadership within marketing, ideally with a background in accounting, financial services or similar B2B sectors;
• Demonstrated expertise in developing and implementing comprehensive marketing strategies aimed at engagement and acquisition of firms and relevant B2B stakeholders;
• Exceptional digital marketing skills including SEO, SEM, and email marketing, with proven experience in driving B2B acquisition and engagement;
• Comprehensive understanding of market research, competitor analysis, and customer segmentation within the bookkeeping industry, leveraging this data into actionable marketing strategies;
• Record of success in managing multi-channel marketing campaigns that align with sales objectives and significantly contribute to business development.

Chief People Officer (CPO)

The CPO will be responsible for formulating and implementing human resource strategies to align HR practices with the company’s business goals. The executive selected for this role should ideally possess:

• Strong experience in leadership roles within human resources, preferably within the accounting or financial services sectors;
• Demonstrated success in creating and implementing HR strategies that drive employee engagement and improve retention rates;
• Expertise in talent acquisition, development, and retention strategies, including executive search, onboarding, talent reviews, and succession planning;
• Comprehensive understanding of HR best practices, relevant labour laws, and other regulatory requirements;
• Proficient in conflict resolution and workplace well-being, with a high degree of empathy and exceptional interpersonal skills.

INTERIM MANAGEMENT TEAM

In the process of assembling the broader executive team, Expert Bookkeeping will be temporarily led by an interim management team. The interim team, composed of the company’s seasoned Founder and a distinguished Strategic Advisor, will guide the company through this transitional phase.

Garett Johnson

Founder / Interim CEO

Mr. Garett Johnson is a seasoned entrepreneur with an extensive background in launching and developing multi-million dollar companies in the United State’s resource, energy, and construction sectors underscores an impressive career. As the owner of a prominent ABC construction franchise in San Francisco, California, and the Regional Franchise Development Partner for ABC in Las Vegas, Nevada, Mr. Johnson has dem onstrated exceptional skill in franchise development, corporate culture cultivation, and strategic growth planning, fortifying ABC’s expansion goals.

Mr. Johnson will be tasked with establishing the executive team that will lead Expert Bookkeeping. While the team is being established, as CEO, Mr. Johnson will be responsible for providing strategic direction and oversight to Expert Bookkeeping. Mr. Johnson’s role includes shaping major corporate decisions, guiding mergers and acquisitions, and influencing the company’s growth trajectory. The Founder will leverage a rich entrepreneurial background to ensure the company adheres to its mission, vision, and values, while also focusing on maximizing shareholder value and maintaining the company’s competitive edge in the financial services sector.

PERSONNEL PLAN

This personnel plan provides an overview of the duties and responsibilities of each employee and within the company, offering clarity on individual duties and fostering a culture of accountability and effective management. By clearly defining the scope and mandates of each team member, the company aims to cultivate a cohesive and efficient team capable of working collaboratively toward achieving the company’s goals.

Annual Salary: $185,000

• Strategically drive growth and profitability through mergers and acquisitions
• Add services tailored to the needs of small businesses in the bookkeeping sector
• Oversee core team selection and manage corporate performance
• Ensure sustainable investor returns and maximize client benefits
• Lead the company’s overall strategic direction and decision-making

Annual Salary: $180,000

• Set and maintain high operating standards and performance metrics
• Manage onboarding teams and specialty service teams effectively
• Oversee VPs of divisions and direct reports for streamlined operations
• Ensure operational efficiency and effectiveness across the company
• Lead initiatives for continuous operational improvement and innovation
• Develop the financial operating, compliance, and reporting structure for the company.
• Manage internal financial reporting and accounting practices.
• Support the CEO in establishing and maintaining debt and equity facilities.
• Ensure financial health and sustainability of the company.
• Provide strategic financial insights to guide company decisions and growth.

Annual Salary: $150,000

• Develop and execute marketing strategies to engage and acquire bookkeeping companies.
• Drive high-volume business development and asset acquisition.
• Oversee marketing initiatives, campaigns, and brand management.
• Analyze market trends to inform strategic marketing decisions.
• Foster relationships with potential acquisition targets and partners.

Annual Salary: $130,000

• Develop strategies for employee attraction, retention, and career development.
• Ensure adherence to state and federal employment laws and regulations.
• Foster a positive and productive workplace culture.
• Oversee human resources policies, including recruitment, training, and benefits management.
• Implement initiatives focused on employee engagement and satisfaction.

Supervisory

Regional Managers

Annual Salary: $90,000

• Oversee the performance of multiple offices or niche service areas.
• Provide collaborative feedback and support to the COO.
• Ensure the operational efficiency and effectiveness of regional offices.
• Develop and maintain strong relationships with local clients and stakeholders.
• Implement regional strategies that align with the company’s overall objectives.

Annual Salary: Contract Basis

• Provide expertise in private and public equity markets.
• Offer insights and guidance on high-volume service distribution.
• Support strategic decision-making with industry knowledge and experience.
• Assist in identifying and capitalizing on new business opportunities.
• Advise on financial, operational, and strategic matters to promote company growth.

Regional Supervisors

Annual Salary: Varies Per State

• Supervise and guide office managers in different branches.
• Ensure regional compliance with company standards and practices.
• Coordinate with the regional manager on implementing operational strategies.
• Monitor regional performance and report on key metrics and improvements.
• Act as a key point of contact between the bookkeeping branch and the regional office.

Office Managers

• Oversee daily operations and administrative functions of bookkeeping offices.
• Ensure optimal office productivity and efficiency in client service delivery.
• Manage office staff and coordinate with regional managers on operational matters.
• Implement and monitor internal processes and policies for smooth functioning.
• Handle client inquiries and foster a positive client experience.

Professional Designation Bookkeeper

• Manage and execute full cycle bookkeeping tasks for small businesses.
• Ensure accuracy in financial records, reporting, and compliance with regulatory standards.
• Collaborate with the internal team to provide comprehensive financial solutions to clients.
• Stay updated on industry trends and best practices in bookkeeping.
• Act as a liaison between clients and the company, maintaining strong client relationships.

FINANCIAL PLAN

The following financial projections have been carefully crafted by the management team of The Revved Up Rinse. All projections are forward-looking and are dependent on securing the required financing. It is the audience’s responsibility to conduct all necessary due diligence.

Pro Forma Income Statement

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Accounting Firm Business Plan

If you are planning to start a new accounting firm, the first thing you will need is a business plan. Use our sample accounting firm business plan created using Upmetrics business plan software to start writing your business plan in no time.

Before you start writing your business plan for your new accounting firm, spend as much time as you can reading through some examples of  service-related business plans .

Reading sample business plans will give you a good idea of your aim. It will also show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.

We have created this sample accounting firm business plan for you to get a good idea about how a perfect business plan should look and what details you will need to include in your stunning business plan.

Accounting Firm Business Plan Outline

This is the standard accounting firm business plan outline which will cover all important sections that you should include in your business plan.

• Product and Services
• Vision Statement
• Mission Statement
• Business Structure
• Chief Executive Officer
• Accounting and Tax Consultants
• Admin and HR Manager
• Marketing and Sales Executive
• Client Service Executive / Front Desk Officer
• SWOT Analysis
• Market Trends
• Target Market
• Competitive Advantage
• Sources of Income
• No. of Clients v/s Revenue Chart
• Payment Options
• Publicity and Advertising Strategy
• Financial Projections and Costing
• Generating Funds/Startup Capital
• Sustainability and Expansion Strategy

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After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your accounting firm business plan pdf and doc file. It’s the fastest and easiest way to start writing your business plan.

Download a sample accounting firm business plan

Need help writing your business plan from scratch? Here you go;  download our free accounting firm business plan pdf  to start.

It’s a modern business plan template specifically designed for your accounting firm business. Use the example business plan as a guide for writing your own.

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Sample Bookkeeping Service Business Plan

Bookkeeping business plan sample.

Are you that knowledgeable in the art of bookkeeping and would love to start a bookkeeping business? Bookkeeping is a profitable business as every business whether it is big or small needs to maintain proper financial records.

With a bookkeeping business, you’ll have no shortage of potential clients as so many people dislike bookkeeping and are willing to hire a professional to take care of it for them.

Your clients will depend on you and so you’ll need to be willing to commit yourself to fulfill your obligations, and in taking great care to handle their business and personal bookkeeping with the utmost professionalism.

Starting a Bookkeeping Business

There are so many benefits of starting a bookkeeping business and here is a run-down of just 3 of them.

• You write your paycheck.
• The demand for bookkeeping is high.
• You can start your bookkeeping business from home and don’t need to rent an office.

If you currently working for your boss as a bookkeeper, you may want to consider starting your own bookkeeping business on a part-time basis before giving up your day job as you have the flexibility to do your bookkeeping at your home.

What You Need to Consider Before Starting Your Bookkeeping Business

Before you decide on starting a bookkeeping business of yours, you need to consider these important two factors:

• Do I have the required bookkeeping experience?
• Do I have the minimum capital outlays?
• Do I know how to use bookkeeping software?

There are other important factors that you have to take into consideration such as how to find your first client before you decide to start a bookkeeping business.

Here is a sample business plan for starting a bookkeeping service company.

Now, that you have known the benefits of starting a bookkeeping business and factors to consider before starting a bookkeeping business, it is time to take you through the various necessary steps.

• Be a Member of the Institute of Bookkeepers

While it is not necessary to be a certified bookkeeper to open your bookkeeping business, it is more advantageous to be a member of the Institute of bookkeepers than those who are not.

By joining the institute of bookkeepers, it allows you to network with other freelance bookkeepers just like you and possibly secure bookkeeping jobs by supporting the business of other members.

Besides, it gives your potential clients the impression that you are competent in your work as the institute of bookkeepers requires some important criteria to be met before admitting you as a member.

• A Bookkeeping Business Plan is a Must

Many people run for cover when you start talking about creating a business plan for their business, but it is a wonderful tool to make your business grow to the next level. A bookkeeping business plan gives you all the information you need at your fingertips.

Your business plan then becomes a reference tool and can help guide you in the choices you make in your business life.

You can pinpoint what your market is, who your market is and how you will capture your market when you have a business plan. You will be able to understand your weaknesses and strengths with a business plan.

It will give you a road map of where you are going and how to have a successful bookkeeping business.

• Picking your Rate

If you are thinking about starting a bookkeeping business, at some stage you will ponder what to charge your clients.

You might look at a fixed fee for your services or an hourly fee for services. Either way, you will need to be sure that it is the right rate for your business.

You need to sit down and state your fee according to who you want to target as your ideal clients or customers. Just remember, you are running a business and you need to be profitable.

As a business owner, there will be several expenses you will need to cover which might have been paid as an employee. Additionally, you are providing a skill set which others do not necessarily have and there is a value on those services.

With a bit of research and thought into your specific expertise and skill set you will be well on your way to selecting a fair rate for service which will assist you in the growth and development of your own bookkeeping business.

• Tools Required for your Bookkeeping Business

Before starting a bookkeeping business of your own, you are required to invest in things like bookkeeping software, payroll software, a laptop with an internet connection and other supporting equipment such as fax machines and printers.

Work out what is the preliminary capital required for your bookkeeping business and figure out the likely sources of finance.

• Marketing your Services

Lastly, marketing your services will take time and you will learn some new skills. Marketing, advertising, and sourcing clients will be important. Don’t discount the opportunities when you are talking with people to mention what you do. Many bookkeepers agree that word of mouth is their best source of clients.

You should also plan to have some business cards made up, and try to figure out ways to advertise that won’t break the bank. You might also want to invest in creating a website for your business.

While this also might take several months for you to notice an increase in the amount of interest in your business, it may be well worth the effort in the long run.

BOOKKEEPING BUSINESS PLAN EXAMPLE

Are you looking for a bookkeeping service business plan sample for your new business? To start a bookkeeping service business, important aspects of the business such as funding, equipment, quality customer service for its clients and also achieving total client satisfaction are among the most important things to consider, but the most important of all these is the business plan.

This is so crucial to the survival of the business because it charts a way forward for the business. It is like a guide for directing the business along the paths of success.

Bookkeeping mainly deals with the documentation of financial transactions in businesses. There are several businesses and startups requiring bookkeeping services and hence, opportunities are never in short supply.

This article covers a bookkeeping service business plan sample and what a good one should contain.

Sample Bookkeeping service business plan outline

• Executive Summary
• Vision Statement
• Mission Statement
• Business Structure
• Market Analysis
• Competitive Advantage
• Sales and Marketing Strategy
• Sales Forecast

EXECUTIVE SUMMARY

Providing premium bookkeeping services for businesses and startups, Hulk Finance Consultants LLC is registered fully licensed with its corporate office in Nevada. Offering state-of-the-art services to our numerous esteemed clients, Hulk Finance Consultants LLC will be offering very affordable yet high-quality services to clients.

There are plans to take this business to enviable heights by making it be among the very best in bookkeeping service business within Nevada and the US.

VISION STATEMENT

Our vision at Hulk Finance Consultants LLC is to build a strong brand synonymous with service excellence, thereby, drawing clientele from both startups and corporate clients.

This will be evidenced by our commitment to duty and the provision of service excellence to all our clients, be they startups or corporate bodies.

MISSION STATEMENT

At Hulk Finance Consultants LLC, our mission is the provision of unbeatable services to our clients at cheaper and affordable rates, adequately taking care of their financial records and all other finance affiliated matters. Also, we plan on achieving a goal of growing this business into a global bookkeeping brand that will see the business join the top league within its first 7 years of operation.

BUSINESS STRUCTURE

Committed to building a sound business organizational structure, Hulk Finance Consultants LLC plans on putting in place the following structures for its smooth running these include in no particular order, Admin and HR Manager, an Accountant, a Front Desk Officer, the CEO, Marketing and Sales Executive and a Bookkeeper who will also double up as the Payroll Admin.

Those to fill in these positions will be the very best on offer in the industry, and their remuneration will be well handled to ensure adequate job motivation.

MARKET ANALYSIS

The bookkeeping industry is so wide and diverse and quite affordable for businesses especially startups. Instead of them hiring accountants which might cost them more, it is much cheaper to hire booking service providers which is the area we come in. thus, providing high-quality bookkeeping service yet at affordable rates for businesses, hence, eliminating the need for them to hire accountants whose services are more expensive as compared to bookkeeping service providers.

Although starting small, providing bookkeeping services to small businesses, Hulk Finance Consultants LLC will also have the capacity to handle large clients while trying to expand to favorably compete with already established bookkeeping and payroll firms in the country.

COMPETITIVE ADVANTAGE

Although young, Hulk Finance Consultants LLC will be hiring the very best hands considered to be authorities in their fields. Hulk Finance Consultants LLC will be riding on the back of sheer skill and experience which is sure to drive its fortunes to enviable heights. Also, it is strategically located within the business district of Nevada to enable easy accessibility to clients.

Employee remuneration will be periodically reviewed to promote job motivation and employee loyalty, thus, creating an enabling environment where employees will work diligently to achieve the growth objective of the company.

SALES AND MARKETING STRATEGY

The sales and marketing strategy to be adopted by Hulk Finance Consultants LLC is the engagement of the services of a competent business developer to mainly take care of marketing and sales. This will eventually translate to business boom and higher sales of our services to clients and also, providing total satisfaction to these valued clients.

Also, there is a plan by Hulk Finance Consultants LLC to create various bookkeeping service packages for different client types so that we will fit into their budgets and still provide high-quality service to them. Also, the use of the internet is going to be paramount in the advertisement for our services to a wide spectrum of society, especially startups and corporate organizations.

SALES FORECAST

The sales forecast for Hulk Finance LLC will be determined by our business location and with the location of the business being focal to our sales; we expect our current location in Nevada to generate the following profits for four years;

First Year $200,000 Second Year $350,000 Third Year $500,000 Fourth Year $750,000

These projections have been put forth discounting recession or economic crisis and with the knowledge of what is obtainable using industry standards, and with the expectation that these will remain unchanged.

Above is what a detailed bookkeeping service business plan sample should look like. Capturing all the most important aspects of a sound business plan relevant to the survival, and profitability of the business. These insights, once diligently followed are sure to be of the greatest benefit to any business venture.

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How To Write a Winning Bookkeeping and Tax Services Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for bookkeeping and tax service businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every bookkeeping and tax service business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Bookkeeping and Tax Service Business Plan?

A bookkeeping and tax service business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Bookkeeping and Tax Service Business Plan?

A bookkeeping and tax service business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Bookkeeping and Tax Service Business Plan

The following are the key components of a successful bookkeeping and tax service business plan:

Executive Summary

The executive summary of a bookkeeping and tax service business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your bookkeeping and tax service company
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your bookkeeping and tax service business , you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your bookkeeping and tax services firm, mention this.

Industry Analysis

The industry or market analysis is an important component of a bookkeeping and tax service business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the bookkeeping and tax service industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of a bookkeeping and tax service business may include small businesses, sole proprietorships and freelance professionals.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or bookkeeping and tax services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your bookkeeping and tax services business via a PR campaign.

Operations Plan

This part of your bookkeeping and tax service business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a bookkeeping and tax service business include reaching $X in sales. Other examples include hiring certain key personnel, or opening new locations.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific bookkeeping and tax service industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Bookkeeping and Tax Service Business

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Bookkeeping and Tax Service Business

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup bookkeeping and tax service business.

Sample Cash Flow Statement for a Startup Bookkeeping and Tax Service Business

You will also want to include an appendix section which will include:

• Your complete financial projections
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your bookkeeping and tax service company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Creating a business plan for your bookkeeping and tax service company is essential to success. With a well-written business plan, you’ll be fully prepared to launch your business and achieve your goals. You can also attract funding and investors to strengthen your financial position.  

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Book keeping Business Plan

No matter the type of business or the industry you are into, especially those that involve money, which is almost everything, you really need to account all the transactions of the entity. Bookkeeping is needed in every kind of business, and an entity must have their own bookkeeper to perform the bookkeeping tasks. You may also see strategic plan examples .

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Bookkeeping is naturally challenging because you are dealing with the company’s financial resources, the lifeblood of the company. In order to do your bookkeeping effectively and efficiently, you need to lay out your bookkeeping plans in a formal document called business plan . Bookkeeping business plans will guide you to the small steps to achieve your desired goals in bookkeeping.

Accounting and Bookkeeping Business Plan Example

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Basic Bookkeeping Business Plan Example

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Importance of Bookkeeping

Bookkeeping is an important aspect in the life of every business entity. It involves the recording of financial transactions, which includes purchases, sales, general receipts , and payments. It can help the users of the financial statements as well as the related parties in different ways. Below are the common importance of bookkeeping:

1. It limits the pain of auditing

Internal and external auditing are the two auditing procedures that must be performed on the financial statements of an entity. In auditing, the auditors need to gather the necessary information to determine whether the financial statements are presented fairly in all material aspects. Bookkeeping can help the auditor easily check the financial information of the company.

2. Files for tax filing are gathered

In filing for tax payments, certain papers are needed such as the simple receipts for the revenues and expenses and other related documents evidencing the amount that must be paid by the company for their tax payable. Bookkeeping can help in tax filing because through bookkeeping, the necessary files are already gathered in place.

3. Analysis and management

Through the information and the general summary of the digits of the purchases, sales, receipts, and payments, the management can analyze their performance for the improvement of the entity. The internal control can also be tested on whether or not it is reliable especially in the preparation of the financial statements.

4. Requirement of the law

The law requires that a company must do bookkeeping in their accounts and to keep proper records not just for auditing but for tax purposes as well.

5. You can plan ahead

Based on the previous transactions that you have recorded in your books, you can plan ahead on what you are going to do with the aspects that you think are your weaknesses and do something to improve your strengths.

Company Bookkeeping Business Plan Example

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Comprehensive Bookkeeping Business Plan Example

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Steps in Bookkeeping

Bookkeeping may be burdensome for some; however, it must be done in order to help not only the management but also any other users of financial information of the company. Having a license as an accountant is not a requirement for bookkeeping, but being a Certified Public Accountant is an advantage as they already know the necessary steps to do bookkeeping. You may also see business plan guidelines examples .

To help you in doing your bookkeeping, here are the simple but important things that you must remember:

1. Prepare the source documents

The first thing that you must do in bookkeeping is to gather all the necessary documents—source documents. You must prepare the source documents for all the transactions that your company has entered into such as in operations, finance, and investment as these are the starting point in your bookkeeping process. You may also see risk plan examples .

2. Determine the relevant information about each transaction

Now that you have gathered all the necessary documents for all the transactions of your company, you must determine the relevant information about each transaction. You must also record the financial effects for each of the transactions and other business events. You may also like business operational plan examples .

3. Record journal entries into the general journal

Record in chronological order the relevant transactions into the general journal. Commonly, a double entry system is being used by most of the companies. It states that for every debit, there must be credit.

Hence, when you are going to record an account as a debit, you must also record pair it with its credit. It is better that you study more on the double entry system to understand more about this topic as this can get complicated when you got lots of rare transactions. You may also check out market analysis business plan examples .

4. Perform end-of-period procedures

Most business entities need accounting reports at the end of each quarter or at the end of the month. Hence, you must perform end-of-period procedures which are the critical steps and can be used for getting the accounting records updated and ready for the preparation of management accounting reports, tax returns, and simple financial statements .

5. Compile the adjusted trial balance

When you have finished performing the end-of-period procedures, you must compile a complete list of all the accounts in your record in the adjusted trial balance. In the adjusted trial balance, all the changes in the accounts that has been affected by the transaction within a certain period are reflected. You might be interested in network marketing business plan examples .

6. Close the books

Lastly, close the books of the accounts by eliminating the nominal accounts by transferring them to their respective real accounts. Closing the books can help get things ready for the next period’s bookkeeping process.

Detailed Bookkeeping Business Plan Example

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Lengthy Bookkeeping Business Plan Example

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Typical Structure of a Business Plan

In creating a business plan for a professional goal that you have in mind, you must make a formal paper, detailing all the necessary information that would lead you to achieving your predetermined goal.

1. Cover Page

The first part of your business plan must be your cover page. In your cover page, you must write the title of your business plan , your company, and the date. This is important so you can easily determine this document from your other documents of your entity, especially when you are compiling a hard copy of the document.

2. Table of Contents

The table of contents must also be present in your business plan especially when you are creating a lengthy business plan. This can guide the users and the readers of the different sections in your business. If you are creating a business plan digitally, you may create a clickable table of contents linking the items in your table of content to their respective contents.

3. Executive Summary

In your executive summary , you must summarize the whole document in a way that the readers can be easily acquainted with your business plan without having to read it all. It must contain a brief statement of the problem or subject covered in the business plan, background information, concise analysis, and main conclusions.

4. Mission Statement

In this section you must present the general mission statement or the short statement of an organizations purpose. It must identify the goals of its operations. You may also include in this section the organization’s values or philosophies, your company’s competitive advantages, or a desired future state.

5. Business Description

You must present in this section the description of the business you are in. You can include the nature of the business that you are into as well as the operations and systems that you are implementing in your business.

6. SWOT Analysis

SWOT analysis or the analysis of your strengths, weaknesses, opportunities, and threats must be presented in this section. You must specify the objectives of your entity and identify the internal as well as the external factors that are favorable and unfavorable to achieving those objectives.

7. Industry Background

In this section, you must present the type of industry of your company, whether you are a service provider for a certain service, a manufacturer of a certain good, among others.

8. Competitor Analysis

This section of your general business plan is where you present your competitor analysis. Competitor analysis is the assessment of the strengths and weaknesses of current and potential competitors of the same industry that your company is into. This general analysis provides an offensive as well as defensive strategic context to identify opportunities and threats from those competitors.

9. Market Analysis

In this section, you must include your  market analysis , your studies on the attractiveness, and the dynamics of a special market within a special industry. In this analysis, you can also identify the strengths, weaknesses, opportunities, and threats of your company. This is also known as a documented investigation of a market that is used to inform a firm’s planning activities.

10. Marketing Plan

A marketing plan is an important component of your business plan as this serves as a blueprint, outlining the business advertising and marketing efforts of the entity for the coming year. It also describes business activities that are involved in accomplishing specific marketing objectives within a specified period of time.

Moreover, it includes a description of the current marketing position of your company, a discussion of the target market for your goods and services, and a description of the marketing mix that a company is going to use to achieve their marketing goals .

11. Operations Plan

You must also include a section for your operations plan. This includes your strategic goals and objectives. Your operations plan describes milestones, conditions for success, and explains how or what portion of a strategic plan must be put into operation in a certain operational period. This is usually the basis for your annual operating budget request. It also addresses the following questions:

• What is our current standing now?
• Where do we want to be?
• How can we get there?
• How can we measure our progress?

12. Financial Plan

In this section, you must present a comprehensive evaluation of your company’s current pay as well as the future financial state— financial plan . This can be done through the use of the current known variables to forecast future income, asset values, etc., of the company. This also includes a budget that organizes company’s finances and a series of steps or specific goals for spending and saving in the future. This is sometimes referred to as an investment plan.

13. Attachments and Milestones

In this section, you must present the attachments that are necessary for the complete understanding of the above documents and sections that you have presented. You may also include the notes for your financial statement, which details the information that are not included in the financial statement. You may also see advertising and marketing business plan examples .

Furthermore, you may present the milestones that your company has reached at this point as well as the achievements that you have achieved so far.

Practical Bookkeeping Business Plan Example

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Well-Explained Bookkeeping Business Plan Example

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Quick Recap

Bookkeeping is important as it can help limit the pain of auditing, the files used for filing tax are already set in place, it can be used for simple analysis and management, it is the requirement of the law, and through bookkeeping, you can plan ahead.

Bookkeeping is really not a tough task. To perform bookkeeping, the following steps are necessary: prepare the source documents, determine the relevant information about each transaction, record journal entries into the general journal, perform end-of-period procedures, compile the adjusted trial balance, and lastly, close the books. You may also see hotel business plan examples .

However, before doing bookkeeping, you must plan ahead on what you are going to achieve. This can be done through making a simple business plan . The typical structure of a business plan involves the following: cover page, table of contents, executive summary, mission statement, business description, general SWOT analysis , industry background, competitor analysis , market analysis , marketing plan , operations plan, management summary, financial plan, and attachments and milestones.

To understand more about bookkeeping business plans, don’t forget to refer to the comprehensive and detailed examples of bookkeeping business plans above.

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