I'm currently working as a management accountant for a consultancy firm in the North West, which don't get me wrong I love but I'm looking at a possible career change due to having to look after my 15 month old son at home. I've decided to look at working from home as a bookkeeper; so I've just come to this site to look for advice on where to start with regards to finding clients and any other advice that all you guys have to offer. I am qualified ATI (which is Irish equivalent to AAT).
My advise to anyone who is in a secure job to stick with job until after the economic climate has improved.
Would say any bookkeeper who says they are not stuggling for clients either live in a good area which has not really suffered too much with the recession, who's clients are still doing ok, nearly as good as before the recession or bookkeepers are kidding themselves that things are still ok.
Many bookkeepers are losing clients especially clients who's businesses were in luxury goods or services because the general public are making cut backs and luxury goods and services are the first to go.
Those clients who are just surviving this recession who can do their own bookkeeping but before did not have time are now because they are not as busy in their business doing their own bookkeeping.
Also where many people have been made redundant more and more bookkeepers are starting up so there are less clients wanting bookkeepers and more bookkeepers then ever.
I started my business in August 2006 and it was much easier then gaining clients. But even then would say it had to be worked on and was not as smooth as having a 9am - 5pm job as sometimes so busy working until Midnight to meet the deadlines, other months having hardly any work so working a few hours a day, amount of hours over the year did equate to nearly a 9 - 5pm job but just some weeks anti-social hours, some very part time hours so a much different lifestyle to having a 9am - 5pm job.
Would say if I had still just been a self employed bookkeeper working from home as the recession hit I may have closed down my business once I had found a job, but had started a new business which have many different business revenues including the bookkeeping so have continued, we had signed all the lease and other paperwork a couple of weeks before the recession was announced so there was no going back.
I'm a self employed book-keeper and I am not struggling for clients (nor am I kidding myself). Despite what some say, in my experience it is not all doom and gloom. I have lost three clients since June 2008 but have also taken on six new ones. This is a mix of new start ups and clients moving from other book-keepers/accountants. Like all sectors I have had to be realistic with regards to my fees, however there are most defeinately opportunities out there.
Running a bookkeeping business, like any other business, requires dedication and this can mean meeting clients outside of normal office hours. To me this isn't a problem as I enjoy the flexibility of being able to take time off in the day.
There is always going to be competition in any industry, but I think this is healthy. I know that as long as I provide a good service to my clients then I will not only keep them as clients but benefit from referrals. When I set up I had a full time job and like most book-keepers do, I took clients on and prepared their books in my spare time. Only when I had enough clients did I reduce my employed hours.
If possible I would look in to joing a local networking group, which I found to be one of the most successful ways of obtaining clients over the long term.
Best of luck.
Wendy
-- Edited by Wendy on Sunday 26th of July 2009 11:17:21 AM
Thanks Wendy & Alison for your quick replies. Much appreciated.
I should have gone into more detail on my initial post. I am currently working part time hours after coming back off maternity leave. Circumstances have meant that I need to work more hours due to my husband earning less money. Unfortunately my work is unable to accomodate any extra hours at the moment so I was looking at starting up a bookkeepers business working from home in my spare time so that I am around for my son and hopefully bring in extra money.
I am new to bookkeeping and started working on a self employed basis in April of this year and so far I have managed to get one client. I know a bookkeeper who was working full time but a few months ago, she lost a lot of her clients who were going out of business, started doing their own books or went to a slightly cheaper bookkeeper so she gave up the business and had to find a full time job to pay the household bills. I think that if you want to do it, then start off part time working and part time bookkeeping (if your job will allow it) so that you can build up your client base and be earning regular money from bookkeeping and then quit your job when you can afford to. I am at home with a 10 month old and a three year old fulltime so I can see the advantage of bookkeeping from home. It fits around me perfectly, I can work when I want and arrange babysitting when I need to meet with my client.
