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Business Idea of the Day: Accountant

Business Idea of the Day: Accountant

Opinions expressed by Entrepreneur contributors are their own. Startup Costs: $2,000 - $10,000Home Based: Can be operated from home.Part Time: Can be

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Opinions expressed by Entrepreneur contributors are their own.

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

THE BRIEF 

If you have an affinity for numbers and want to help other businesses big and small keep their financial records in order as they grow, starting an accounting business could be for you. While not a requirement, most accountants have an educational background in finance and earn bachelor’s degrees. And if you decide you want to become a certified public accountant (CPA), there is an exam that you have to take and pass. When just starting out, you can operate your business from a home office. There are also a number of accounting software platforms that you can acquaint yourself with. As your reputation and business grows, in addition to providing tailored financial advice to your clients, you could offer workshops and training sessions, webinars or write a blog about best financial practices. 

ASK THE PROS:

How much money can you make?

The median salary for an accountant, is $69,350, according to US News and World Report. ZipRecruiter notes that the average annual salary for an accountant in the United States is $54,449. 

What’s the most important thing to know about this business?

“As a fiduciary I’m obligated to act in your best interest. I’m going to tell you how much risk you can afford to take. That’s my job. Your job is to tell me what you want to achieve in life: when you want to buy your house, when you want to retire. My job is to do my level best to get you there.” – Sallie Krawcheck, CEO and co-founder Ellevest 

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