Bookkeeping business is very popular in Australia. There are many independent operators and few bookkeeping franchises, and this is the more reason why you should join a bookkeeping Franchise. Franchises have a much better chance to advertise their services than independent contractors.
Howbeit, you can choose to invest more money into your own marketing campaigns to attract more customers. Even though is challenging to estimate the success of a bookkeeping franchise, but newspaper advertising, internet marketing, and word from other businesses are a good indication of the franchise’s performance.
Have it in mind that you do not have to be an accountant to run a bookkeeping franchise. Most franchisors will assess the required abilities and provide training for suitable candidates. Bookkeeping franchises are safe businesses to run as long as you have (not borrow) the money to purchase the franchise.
One wonderful thing about bookkeeping franchises is the fact that you offer a proven service to someone who can be your customer for years to come. So unlike other franchises, the bookkeeping franchise does not hunt for new clients continuously. However, reports have it that the bookkeeping service does not sell like hot buns, therefore you may need some time before finding the perfect clientele.
The top 10 businesses highlighted below offer lucrative concepts, their own approach to marketing and management, and constant assistance to their partners.
10 Bookkeeping Franchise Opportunities in Australia and Their Cost
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EzyAccounts – $20,000 – $37,500 +GST
EzyAccounts is an Australian owned and operated franchisor. The company aids franchisees acquire clients and earn up to $20k per month. Their achievements are well renowned by their strategic partners that include: Xero, Intuit Quickbooks, MYOB and Reckon. EzyAccounts Franchisees offer services such as business advisory, management accounting, software training, bookkeeping, payroll processing, tax and other key services.
- Franchise Investment: : $20,000 – $37,500 +GST
Shoebox – $29, 990 + GST
Shoebox Books was established in 2007, when founders Yvette Coad and Sandie Menzies noted a unique opportunity by developing a bookkeeping system where all the client is required to do was put their receipts and bank statements in a Shoebox and they would collect them, prepare and lodge the BAS, prepare the Profit & Loss, file all their receipts and invoices and then return their Shoebox for the next month. Providing bookkeeping opportunities, mainly for experienced professionals, Shoebox Bookkeeping is designed to allow franchisees to work from home.
- Franchise investment: $29, 990 + GST
- Royalty Fees: $450 or 7%
Cinch Advisers are an Australian network of CPA accountants and business advisers experienced in business and personal finance growth strategies and design lifestyle-focused strategies that ensure that businesses and families achieve financial growth. CINCH boasts of several bookkeeping and accounting franchises available across Australia so every interested person can become a CINCH Partner today.
- On Demand
Busy Bookkeeping is a well known national network of professional bookkeepers who specialize on providing bookkeeping services to small and medium scale businesses, and to Accountants in Public Practice.
BB is an innovative and reliable brand made up of accountants and expert bookkeepers known for their professionalism and commitment to quality. Franchisees provide their clients in SME and medium-sized enterprises with efficient and cost-effective solutions including set-up, training, all paperwork, management and ATO-related functions.
- On Demand
Jim’s Bookkeeping – $35,000
Jim’s Bookkeeping remains one of the various divisions of Jim’s Group and Jim’s brands are recognised by over 90% of Australian adults. There are over 3600 franchisees in the Jim’s Group network. Jim’s Bookkeeping franchise network offers lucrative opportunities for accountants and bookkeepers who are looking to experience the freedom of their own business without the hassle or expenses that come with setting up on your own.
- Franchise Investment: $35,000
AGI Bookkeeping is a popular, highly-trusted bookkeeping and accounts solution-provider servicing the Melbourne CBD and surrounding suburbs. The company is known to place a great priority on building long-lasting relationships whilst offering excellent and affordable accounts and bookkeeping solutions tailored especially for business.
The company offers fixed monthly packages to franchises which offer the flexibility of staying contract-free to the franchisor. It allows partners to change the plan whenever they want as per their requirement without paying any penalties.
- On Demand
J TAX – $9,900 + GST
Jtax is a Franchising system based in the Cloud. The J TAX Cloud connects all bookkeepers and small business owners around Australia with fully scalable multi-user software and tools for a fast turnkey start-up. So many tax and bookkeeping franchise companies require franchisees to lease an office after a 12 month period. However with Jtax this is not needed or is compulsory. Clients can be purchased additionally from J Tax subject to availability by negotiation.
- Franchise investment: $9,900 + GST
- Royalty Fees: 14% (min $100 – max $600) + GST
Axia Accounts – $8,000
Axia Accounts is a unique and professional bookkeeping franchise opportunity with low start-up costs and overheads and offers maximum flexibility with a part-time or full-time mobile and home-based business. Franchisees can offer exciting bookkeeping services, and BAS and tax return services under their tax agent’s supervision. The franchise includes ongoing training and support, business tools and materials.
- Franchise investment: $8,000
First Class Accounts – From $36,000
Since it was established in 2000, First Class Accounts has risen to become Australia’s largest bookkeeping franchise, with over 180 franchises servicing over 5,000 clients across a variety of industries. All FCA franchisees are either BAS or TAX Agents, or are working under the supervision and control of First Class Financial Group Pty Ltd.
- Franchise investment: From $36,000
Bookkeepers Store Australia
Bookkeepers Store is a new breed of bookkeeping professionals. BS are a network of experts all focused on delivering the simplest, but most effective financial solutions to grow clients’ business. The company is known to leverage cloud-based technology for an easy, cost effective solution and has professionals who are skilled and savvy with ATO and government requirements. All Bookkeepers Store partners have get access to everything they need to ensure their business succeeds.
- On Demand
The best bookkeeping franchises in Australia have a large experience in offering numerous products. The list of services related to the industry includes managing payrolls, creating and maintain monthly financial reports, handling taxes, on-site and off-site assistance of a specialist and others. These are the services that both new and mature companies require. Therefore, bookkeeping franchises will always be in demand.