11 Bookkeeping Franchises in Australia
Australia’s business environment, marked by its diversity and resilience, has given rise to the bookkeeping industry.
Whether it’s ensuring compliance, managing payroll, or deciphering financial statements, bookkeepers in Australia are adept at navigating the multifaceted economic terrains, offering invaluable support to businesses nationwide.
Several factors make the bookkeeping industry in Australia an attractive and lucrative field for business owners.
With an increasing number of businesses and startups emerging in Australia, there’s a growing demand for professional bookkeeping services to help manage financial records, ensure tax compliance, and provide valuable financial insights.
Also, many businesses prefer to outsource their bookkeeping needs to focus on their core competencies.
This trend has led to increased opportunities for bookkeeping firms to offer specialised services and secure long-term clients.
The bookkeeping industry in Australia really picked up in 2021, pulling in total revenue of a staggering $20,657 million!
And it’s not just a few firms reaping the benefits—there are 34,646 firms in this booming sector.
And you would be surprised that this industry is on track to reach a revenue of $23,085 million by 2026! (Source: LinkedIn)
Let me tell you, joining a bookkeeping franchise in Australia has some perks that are definitely worth considering!
First off, there’s the whole brand recognition thing.
You don’t have to spend money on advertising when you’re part of a franchise.
That means you’re not starting from scratch – people already know and trust the name, and that’s a huge plus!
Then, there’s the support and training. I mean, who wouldn’t want a helping hand when starting out?
Most franchises offer fantastic training programs and ongoing support.
And one of the best parts is that – the networking opportunities are just fabulous.
Being part of a franchise means you are part of a larger community.
You can meet other franchisees, share experiences, exchange tips, and sometimes get referrals.
All in all, joining a bookkeeping franchise in Australia is smart!
In this blog, we’re diving into the Top 11 Bookkeeping Franchises in Australia, showing how aligning with them could be your golden ticket to business growth.
Let’s head to the list:
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Axia Accounts is recognised as a professional bookkeeping franchise opportunity, particularly noted for its affordability, low start-up costs, and overheads.
It has been operating since 2013 and has expanded its presence with over ten franchisees in Western Australia (WA) and New South Wales (NSW) regions. (Source: Axia Accounts)
Axia Accounts presents a cost-effective and professional franchise opportunity in bookkeeping, characterised by minimal start-up costs and overheads.
This venture offers utmost flexibility, allowing franchisees to operate either part-time or full-time, with the convenience of a mobile and home-based business.
Franchisees are equipped to offer bookkeeping services, along with BAS and tax return services, under the guidance of their supervising tax agent.
The franchise package encompasses continuous training, support, and essential business tools and materials.
Regarding the general franchising environment in Australia, a report from the Franchise Council of Australia estimates the franchise sector to be worth A$174 billion, showcasing the substantial economic contribution of franchising businesses, including bookkeeping franchises like Bookkeepers Store Australia.
Busy Bookkeeping is a rapidly expanding national network of skilled bookkeepers, concentrating on delivering bookkeeping services to small and medium-sized businesses and Accountants in Public Practice.
Recognised for their professionalism and dedication to quality, BB is a reliable and longstanding brand consisting of accountants and proficient bookkeepers.
The franchisees offer clients in small to medium-sized enterprises effective and economical solutions, encompassing set-up, training, comprehensive paperwork, management, and functions related to the Australian Taxation Office (ATO).
Bookkeepers Store represents a modern generation of proficient bookkeeping professionals.
Comprising a network of specialists, BS is dedicated to providing straightforward yet impactful financial solutions to enhance clients’ business growth.
Leveraging cloud-based technology, the company offers convenient and cost-effective solutions with professionals who maintain extensive knowledge and compliance with ATO and governmental requirements.
Every partner affiliated with Bookkeepers Store receives access to essential resources, ensuring the flourishing of their business.
EzyAccounts is a franchisor rooted in Australia, dedicated to aiding franchisees in acquiring clients and the potential to earn up to $20k per month.
The company’s accomplishments have gained recognition from strategic partners, including Xero, Intuit Quickbooks, MYOB, and Reckon.
The franchise’s approach to helping SMEs manage their bookkeeping efficiently and maximise business profitability has contributed to its reputation as a leading bookkeeping franchise in Australia.
Franchisees of EzyAccounts deliver a variety of services encompassing business advisory, management accounting, software training, bookkeeping, payroll processing, tax, and other essential services.
Jtax operates as a Cloud-based franchising system, linking bookkeepers and small business owners across Australia through scalable multi-user software and tools, facilitating a quick turnkey startup.
Unlike many tax and bookkeeping franchise companies, which mandate franchisees to lease an office after 12 months, Jtax doesn’t impose such requirements.
Additionally, clients can be acquired from Jtax, subject to availability and through negotiation.
In the broader context of the Australian franchising market, the industry has exhibited growth, with the revenue reaching an estimated $169.5 billion in 2023, growing at a CAGR of 2.4% over the past five years (IBISWorld)
This growth indicates the vitality and significant economic contribution of franchising businesses, including bookkeeping franchises like Jtax, to the Australian economy.
AGI Bookkeeping is a highly esteemed and trusted bookkeeping and accounting solutions provider serving Melbourne CBD and its neighbouring suburbs.
The firm prioritises fostering enduring relationships while delivering top-notch, affordable accounting and bookkeeping solutions tailored to businesses.
AGI Bookkeeping’s success can be attributed to its adaptability and ability to navigate dynamic market conditions, contributing to Australia’s overall positive trajectory of the franchising industry.
The franchise’s specialisation in serving franchise businesses sets it apart, offering tailored solutions to meet the unique needs of its clientele.
AGI Bookkeeping extends fixed monthly packages to franchises, granting the franchisor the flexibility of remaining contract-free.
This provision enables partners to modify their plans as per their needs without incurring any penalties.
Cinch Accountants & Advisers in Australia is known for designing lifestyle-focused strategies that aid businesses and families in achieving financial growth.
They offer various services, including tax accounting and advisory, to help clients navigate their financial landscape.
Cinch Advisers comprises a network of CPA accountants and business advisers across Australia, possessing expertise in developing growth strategies for business and personal finance.
They specialise in crafting strategies focused on lifestyle, aiding businesses and families in attaining financial growth.
Cinch has a variety of bookkeeping and accounting franchises available throughout Australia, enabling any interested individual to become a Cinch Partner.
Jim’s Bookkeeping Australia is part of the renowned Jim’s Group, one of Australia’s largest and most recognised franchise groups.
Jim’s Bookkeeping offers a range of services to help businesses manage their finances effectively, and its association with Xero, a leading accounting software, ensures the delivery of quality services to help companies to thrive.
Jim’s Bookkeeping forms one of the diverse divisions of Jim’s Group, a brand recognised by over 90% of Australian adults.
The network within Jim’s Group boasts over 3600 franchisees. (LinkedIn)
The Jim’s Bookkeeping franchise network allows accountants and bookkeepers aspiring to enjoy the autonomy of running their own business without the associated challenges or expenses of starting independently.
Shoebox Australia is a notable bookkeeping franchise that has made significant strides in the industry.
The franchise has successfully onboard more than 70 franchisees since 2012, contributing to a revenue stream estimated between $3-4 million across the franchise. (Accountants Daily)
Shoebox Books & Tax is certified in Xero, QBO, and MYOB, offering a range of bookkeeping, accounting, and tax services to support the growth of small businesses.
In 2007, founders Yvette Coad and Sandie Menzies initiated Shoebox Books, recognising a distinctive opportunity to create a bookkeeping method.
In this system, clients merely had to place their receipts and bank statements into a ‘Shoebox.’
The team would then retrieve them, handle the BAS lodgment, generate a Profit and loss statement, organise all receipts and invoices, and return the Shoebox, ready for the upcoming month.
Shoebox Bookkeeping provides franchising opportunities, ideally targeting seasoned professionals, and is structured to enable franchisees to operate from their homes.
First Class Accounts is a prominent name in Australia, renowned for offering top-notch bookkeeping services.
In 2023, this franchise has continued to uphold its reputation for excellence, making it a preferred choice for many businesses seeking reliable bookkeeping solutions.
Since its inception in 2000, First Class Accounts has expanded to be the largest bookkeeping franchise in Australia, boasting over 180 franchises that service more than 5,000 clients across diverse industries.
Every franchisee within FCA is either a BAS or TAX Agent or operates under the guidance and oversight of First-Class Financial Group Pty Ltd.
TaxAssist Accountants has significantly impacted the accounting and bookkeeping sector in Australia.
As of 2023, the franchise has expanded its presence with 268 franchisees across the UK, Ireland, and Australia, servicing over 85,000 clients from 425 locations.
This extensive network and diverse clientele underscore TaxAssist Accountants’ position as a leading accounting franchise in Australia and globally.
The franchise offers a range of services, including tax preparation, accounting, and advisory, catering to the varied needs of its clients.
The presence of TaxAssist Accountants in key locations such as New South Wales and its commitment to providing quality services have contributed to its reputation as one of the best bookkeeping franchises in Australia.
The franchise continues to uphold its mission to support clients in navigating the complexities of taxation and accounting, ensuring compliance and financial well-being.
Frequently Asked Questions for Bookkeeping Franchises in Australia
What are the benefits of owning a bookkeeping franchise in Australia?
Owning a bookkееping franchisе in Australia offers bеnеfits such as low invеstmеnt, straightforward commitmеnt, brand recognition, training, support, and accеss to an еstablishеd cliеnt basе. Franchisеs likе First Class Accounts offеr thеsе advantagеs to aspiring franchisееs.
What should I expect from starting an Australian bookkeeping franchise business?
Starting a bookkeeping franchise in Australia involves:
- Aligning with the franchise’s business model.
- Adhering to established systems and processes.
- Receiving training and support.
- Working towards reaching your business goals.
What are some alternatives to buying a bookkeeping franchise?
Altеrnativеs to buying a bookkееping franchisе include:
- Starting an indеpеndеnt bookkееping businеss.
- Partnеring with еxisting businеssеs.
- Exploring onlinе bookkееping platforms likе Purе Bookkееping.