The Most Profitable Home Business To Start In 2020
Everyone wants to know the answer to the question, what is the most profitable home business? Makes sense right? If you are thinking about becoming your own boss then you are going to want to pick something that you will be making a good income doing.
I could go through a whole list about why which one is better than the previous one. Instead, I want to focus on the #1 most profitable business. After all, everyone is going to look into the #1 business the most anyways, so why not just focus on that, right?
Drum roll, please…
According To Entrepreneur Magazine…
Each year entrepreneur magazine releases a list of those all-important most profitable businesses and each and every year #1 remains the same. Number one once again is…
That’s right, accounting, tax prep, bookkeeping, and payroll services. If you would like to see the entire list for yourself I have included the link here.
For the purpose of this article, I wanted to focus solely on bookkeeping and even show you how you can easily become a part of this industry, even with no prior experience but more on that in a minute.
I Never Would Have Guessed
If you are like me, bookkeeping may have been one of the last things you would have guessed would top the list. After all, it’s kind of a behind the scenes profession, if you will.
And let’s face it, most people probably don’t aspire to become a bookkeeper one day. The truth is though, that it can very rewarding in a number of different ways.
If done right, you are not simply going to crunch numbers and leave it at that. Great bookkeepers go above and beyond to show their clients that you care about their business by finding ways for them to improve their bottom lines.
By doing this, your clients will be forever grateful that you do what you do and in return, you get those feel-good feelings that you are helping your clients keep more of their hard-earned money. Is there anything better than being able to help others out, no matter what you are doing?
Another reason why is the income potential that you can earn by running your own bookkeeping business. How much do you think you are able to earn by doing this? Take a second and think about what your time would be worth as a bookkeeping business owner.
How does $80 an hour, on average, sound to you? If you figure that established clients will take 3-4 hours per month to work with you can begin to see how this can be a lucrative career choice for you.
Minimal Startup Costs
One of the great things about bookkeeping is the startup costs associated with it. The fact is that there are very few.
For starters, there is no need to have a brick and mortar location for your business. This can be done from the comfort of your own home, which alone, is going to save you tons of bank.
While there are minimal costs involved when it comes to software, the great thing is that much of these costs are basically passed on or shared by your clients.
Even then you are not talking about big bucks by any means. To get an in-depth look as to the startup costs involved, click here.
In fact, I can even go as far as to say that it’s possible to get the costs of getting certified on Quickbooks and Xero can be waived! This alone is a savings of around $500 but more on this in a minute.
This Is All Fine And Dandy But…
So maybe you’re are thinking that this all sounds good and all but the only problem is that you know absolutely nothing about bookkeeping. My reply is, you don’t need any experience to learn how to do this.
There are a couple of ways that you can go about learning bookkeeping, marketing, and business. The one that has been beaten into our heads all of our lives is college. After a minimum of 2-4 years and tens of thousands of dollars, you can have your degrees and zero hands-on experience to go along with it.
I am hoping that you are cringing right about now and thinking that this route doesn’t sound appealing at all! There is a better way.
Insert Bookkeeper Launch. This is an online bookkeeping course that was started in 2015 by a former CPA by the name of Ben Robinson.
Ben’s goal was simple. He realized that there are a ton of bookkeepers out there but he always had a hard time finding GREAT bookkeepers for his own business. Eventually, he found it better to simply train others (even with no experience) who had the drive and desire to become amazing bookkeepers.
This is how Bookkeeper Launch came about and since this program started back in 2015 Ben has shown over 8000 students not only how to be a bookkeeper but also how to run their very own bookkeeping business.
Even better, it is designed to be gone through in as little as 10 weeks! There are even students that have their first clients before they even finish the course. I know this may be hard to believe but it does happen. This simply depends on your goals and drive to make it happen.
How Can You Learn More?
Starting your own business is a big decision no matter which route you decide to take. When trying to make that decision you are going to want to do some research, or at least you should.
Luckily for you, I can help you out with that as well. I have been a part of promoting Bookkeeper Launch now since 2017 and have dedicated pretty much this entire website to providing you with all the information I can to show you what it has to offer.
So if there is information that you seek, you can find it here.
To begin with, any logical first step is to get a look at the program itself. To get an in-depth look at the BL program check out of my full review. Here you will get a complete rundown on what is on the inside and what you can expect.
From there, you will have the opportunity to sign up for 3 FREE training videos that provide you with a look at what it takes to have your own bookkeeping business.
Now that you know the answer to, what is the most profitable home business, take the next step for a detailed overview of how you can have your very own profitable bookkeeping business in just 10 weeks.
If you have any questions feel free to drop them below in the comments and I will be sure to get them answered. No matter what you decide to do I wish you all the best in finding the business that is right for you.