Recently, a gentleman emailed for some advice on franchising a book keeping business, one which would be geared towards small business owners. Is this possible, as we enter a recession; is this a viable business model, is it a needed service; will it work? He writes that due to an abrupt change in his career and since he had some money he decided to go back to school;

I chose bookkeeping because I foresee many companies needing organization to help them thru this economic slump. I want to take a portion of my settlement and start a bookkeeping business with the plan to franchise it. I am in the infancy of learning all I can about creating a successful franchise and am asking if you can help steer me in the right direction?"

There indeed have been some successful Accounting Franchises, several in fact. Some of the franchisees complain about profitability, but there are some super success stories too. I always find it interesting the accounting co-branding going on now. Where a business owner of a Copy Store or Mail Box business signs up and hires folks to do taxes and accounting. I also find it fascinating that "satellite office rentals" also seem to be getting into the co-branding with accounting franchises.

Yes, during economic downturns we find increases in various sectors, accounting being one of them. Outsourcing accounting makes sense for many small businesses. They need payroll help, compilations, reports and billing services. Having such support is paramount because normally entrepreneurs make lousy accountants, not all but most. Think of all the small businesses and franchisees out there that truly need these services, whether times are good or bad?

Now then, it takes quite a bit of money to franchise a company and it is not easy. Also there seems to be quite a bit of litigation going on these days with tax services. That does not make it impossible, just a little more CYA. I would recommend that you check out Bond's Franchising Listings to see what some of the competition is doing, try to seize a niche.

http://www.sourcebookpublications.com

The International Franchise Association has a little booklet; "How to Become a Franchisor" which is decent. Have you put together a business plan of sorts yet? I also recommend "The Franchise Bible" and "Franchising 101" and the late Wendy's Founder's book; "Franchising for Imbeciles" to start. You know there are other options to franchising, thus you might want to read "Franchising and Licensing" as well. Thank you for your question on franchising and continued success in all your endeavors and your future book keeping franchising corporation.

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