Are you a bookkeeper who has spent countless days cursing your boss under your breath while dreaming of the day you’ll be able to start a bookkeeping business of your own? Bookkeeping is a valuable skill and unfortunately many employers take this skill for granted and pay measly wages for a job that is the keystone to their entire business.
So how much money can you make if you started your own bookkeeping business? The short answer is probably much more than you’re making now.
Don’t just assume that because you are making $12.00 per hour at your current bookkeeping job that you should just charge this rate to your clients. You must take your overhead costs into consideration (such as stationery, utilities, travel time, etc.). If you don’t do this, you’ll end up in the red financially.
Before you make the leap to starting your own bookkeeping business, do some preliminary research by calling several bookkeeping businesses in your area and enquiring about their hourly rates.
You’ll discover that most professional bookkeepers charge anywhere from $15.00 to $50.00 per hour depending on the area where you live. Some bookkeepers prefer not to charge by the hour, instead formulating a flat rate to charge each client depending on the work that needs to be produced each month. This also helps them ensure a steady paycheck for themselves.
You’ll discover in your preliminary research that most bookkeeping businesses charge well over the average rate they pay their bookkeeping staff so they can still make a profit. You want to be making this profit too.
If you decide to start a bookkeeping business you will be in business to create a better life for yourself, so make sure you do your homework. Then you can curse out your boss to his face and start your own bookkeeping business.
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