Right now, the accounting and bookkeeping business industry has been growing rapidly in the U.S. The improvements in bookkeeping and accounting software are responsible for that.
The number of small businesses and individuals that are looking for an outside company to do this work is growing every year. We believe that it is a very attractive industry. Especially for foreign nationals with experience in accounting or bookkeeping. They are looking to move to the U.S. and continue their career in an industry with which they already have familiarity.
Business Industry Highlight – Accounting and Bookkeeping Business
In today’s accounting market there are two types of franchise offerings. On the one hand, franchises that focus on working with small businesses. And on the other, franchises that work only with individuals. An accounting firm helps small businesses in their day-to-day activities. Such as payroll, bookkeeping, consulting, accounting and other essential activities that require qualified and certified accounting staff. Hiring a specialized accounting firm can not only save the company money. But is also more efficient than having to focus on these activities in-house. In the case of individuals, there are accounting firms that help with tax returns and other accounting needs.
The accounting and bookkeeping franchise industry segments are growing every year. And they offer a very solid support system to their franchisees.
As soon as a new franchisee signs the franchise agreement the franchisor works side-by-side with them to help them set up their business. First, they help find the best location (if needed). And then they offer training at their headquarters so that the new franchisee can be prepared to open the business. They also offer ongoing online support and training; their virtual system is included which allows clients to have access to whatever they need anytime. Another important factor is that some of these franchises also offer in-house services, where the franchisee finds the client then has the corporate team help them to do the work and then deliver it to the client.
How to Enter the Bookkeeping business Market
Many franchisors require that their new franchisees have experience in the accounting/bookkeeping industry, either in the U.S. or in their home country. It is important for the owner-operator of the business to know how to service clients, answer the clients’ questions, and be able to do some of the work in their own franchise unit. For these reasons, it is essential for the franchisees to either have a degree in accounting or have experience in the industry to start their own franchise location.
Enticing Investment for E-2 Investors
The accounting/bookkeeping franchise industry can be very interesting for investors. Because of the relatively low investment amount required to open up an accounting/bookkeeping franchise. We have seen that it can be possible for anywhere from $100,000 through $200,000, including working capital. If you are an accountant or work in this industry and have experience with these types of services it is a very good opportunity to start your own business and be your own boss. It does not only qualify for an E-2 visa, but it is very simple to start. Plus, the franchisor supports through every step and offers continuous support. It is a worthy opportunity for foreign nationals that work in the area. They are satisfied with their work but want to move to the U.S. It is an easy transition since they would be transferring to the same industry they already have experience within.
Since this business is an owner-operator kind of franchise, individuals interested in this type of investment must be active owner-operators. Our research has led us to the conclusion that the franchisees that have the most success in the accounting/bookkeeping industry are the ones that are working within the business.
Grow your bookkeeping business with Visa Franchise
Visa Franchise is always researching new opportunities that fit the unique profiles of our clients. This continued research has allowed us to continue finding interesting new opportunities in diverse industries. We advise our accountant clients to take a deeper look into the accounting industry if they are interested in continuing their work in the U.S. Also, we have identified several franchise investment opportunities available in this segment that are willing to expand and grow their brand with foreign nationals across the U.S.
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