Bookkeeping Business

2 Bookkeeping Business Success Stories [2024]

Pat Walls

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Updated: October 7th, 2024

A bookkeeping business keeps track of monies coming into and out of business and maintains an accurate financial record, as per the International Association of Bookkeepers.

As a bookkeeping business, your role is to help small and medium-sized enterprises in the:

Preparing their year-end tax and VAT returns
Keeping on top of day-to-day cash flow
Running finances efficiently

To become a bookkeeper, you must be accurate in your work and understand financial topics well.

In this list, you'll find real-world bookkeeping business success stories and very profitable examples of starting a bookkeeping business that makes money.

1. CFOAF ($1.2M/year)

Inspired by his CPA mother's entrepreneurial spirit and his love for numbers, Byron Wolfe founded CFOAF, a fractional CFO Advisory Firm, which achieved $1 million in revenue within its first year by over-delivering expert financial guidance to small and midcap companies.

How much money it makes: $1.2M/year
How much did it cost to start: $50K
How many people on the team: 5

How I Started A $100K/Month CFO Service Company With My Wife

CFOAF, founded by Byron Wolfe, quickly reached $1M in accrued revenue in its first year by offering top-notch CFO services to small to midcap companies, specializing in managing high-level financial decisions, minimizing tax burdens, and providing business growth knowledge across various industries.

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Read by 1,714 founders

2. Free Cash Flow ($300K/year)

During COVID-19, accountant Alan Chen noticed online influencers facing financial mishaps. With his Big Four experience, he launched FreeCashFlow.io, now serving a niche market of content creators with precise tax and accounting solutions.

How much money it makes: $300K/year
How much did it cost to start: $500
How many people on the team: 2

Helping Youtubers & Online Content Creators With Their Accounting Turned Into A $300K/Year Business

A case study about FreeCashFlow.io, an accounting agency that specifically caters to the financial needs of Onlyfans models and entrepreneurs, helping them with bookkeeping, taxes, and financial management, all while overcoming the stigma associated with the industry.

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Read by 6,813 founders