Bill Von Fumetti’s Booming Bookkeeping Business Review: Is a Bookkeeping Business Profitable?

Booming Bookkeeping Business is a course by Bill Von Fumetti that teaches you how to become a virtual bookkeeper at home, even without experience. The course takes 90 days to finish and includes how to set up yourself as a bookkeeper, teaches fundamentals in accounting and marketing, and constantly explains why being a bookkeeper is lucrative in the long term.

The Booming Bookkeeping Business has several mixed reviews online from multiple blogs. Others say it is not as effective as what Bill Von Fumetti says, while others say they have earned high-paying clients for their bookkeeping needs. However, the official site includes success stories, with some students making $75,000 in 11 months while others earning $80,000 to more than $100,000 in a year.

In this article, we will review the content in Bill Von Fumetti’s Booming Bookkeeping Business such as how to set up your virtual business, how the best freelance bookkeepers use QuickBooks Online, where to find clients, and how to stand out in the bookkeeping competition as a beginner. Having a bookkeeping business is profitable because clients with any business are always in demand for individuals with accounting skills to manage their finances. As of February 2024, the average rate of a bookkeeper is $24.31 per hour.

Bill Von Fumetti's Booming Bookkeeping Business Review: Pros and Cons

Is a Bookkeeping Business Profitable?

A bookkeeping business is profitable because clients online always look out for efficient virtual bookkeepers with credible accounting solutions. Starting a successful bookkeeping business involves acquiring the skills, possibly through certification, and leveraging technology to offer accurate and timely accounting services. You can start a successful bookkeeping business by marketing your services effectively and building a professional network of reputable businesses and experienced bookkeepers.

According to Salary.com, a beginner bookkeeper's average monthly salary ranges from $2,250 to $4,800. We also checked Reddit to find real answers regarding how much a bookkeeper makes. Some make as low as $29 per hour, while others earn $75 to $150 per hour, depending on the number of clients.

Freelance bookkeeping is in demand as businesses, ranging from startups to established enterprises, seek flexible and cost-effective accounting services. The rise of remote work and digital platforms has further increased opportunities for freelance bookkeepers to connect with potential clients.

Bookkeeping is an excellent side business because of its flexible nature, allowing you to manage client accounts remotely and outside of standard business hours. This flexibility makes it an attractive option for those looking to supplement their income. However, it's much better if it is treated as a full-time work.

Businesses that most require bookkeeping services include small and medium-sized enterprises (SMEs), startups, and sole proprietors who may not have the resources to maintain a full-time accounting department.

However, not all bookkeeping businesses are profitable because of the competition and the scarcity of clients. There are over 1.7 million freelance bookkeepers, making competition fierece in the industry. Also, because clients are either dependent on AI now or already have referrals to more experienced bookkeepers, having a high-profit bookkeeping business can be difficult today.

What Do You Get With Booming Bookkeeping Business?

What is The 5-Day Keyboard Rich Bookkeeping Challenge?

The 5-Day Keyboard Rich Bookkeeping Challenge is a free guide and live session that gathers participants to spend 90 minutes each day, starting from the basics of what a virtual bookkeeping business is, to finding clients as fast as possible. It serves as an introduction to his course, Booming Bookkeeping Business.

Who is Booming Bookkeeping Business For?

Booming Bookkeeping Reviews

Booming Bookkeeping Business reviews range from positive to negative. The positive ones mostly come from Bill Von Fumetti’s official website and YouTube video reviews. People have posted negative reviews on several blog sites as well.

The students have made more than $75,000 in less than a year after applying everything they learned from his course and the Facebook group. Those who make $100,000 or more in a year get a trophy from Von Fumetti titled “100K Club”.

Is Booming Bookkeeping Worth It?

Booming Bookkeeping Business is worth it if you are serious about shifting your career into a full-time virtual bookkeeper. However, its success relies on active remote work with clients from multiple platforms like QuickBooks, LinkedIn, and Upwork. Remember, the course does not have refunds. Only get this course if you are sure that you want to become a bookkeeper, and not just testing it out if it is suitable for you.

While Booming Bookkeeping Business focuses on all the great things about virtual bookkeeping, it does not cover all the risks in this industry like AI automating the most basic positions, and more people adding to the competition to acquire high-ticket clients.

The course will help you realize how to work smarter, not harder to close business deals with the best clients. Bookkeeping is not for the faint of heart and the course could be overwhelming with practices that you need to always apply when working for businesses.

What is Bill Von Fumetti's Claim?

Bill Von Fumetti’s claim is that anyone can become a certified expert bookkeeper in a few months by using his course. He also claims that you don’t need to take Accounting in college to earn the same amount of money that corporate bookkeepers have. That’s because more business clients are searching for independent bookkeepers that sell their services cheaper.

According to his introduction webinar, bookkeeping is a long-term skill rather than a get-rich-quick scheme like day trading, MLM networking, dropshipping, and Airbnb hosting.

Debunking Bill's Claim

Bill Von Fumetti may have delivered facts about bookkeeping, but the skill is harder to learn than what he’s preaching. After all, the most demanding jobs always involve the toughest skills. According to Inc. and Forbes, bookkeeping is still the most profitable industry to this day.

$100,000 may be possible for someone to make in bookkeeping but, statistics from Salary.com and GlassDoor tell a different tale. In the United States, the average salary for corporate bookkeepers is about $43,971 per year, with a typical range between $39,328 and $48,813. In contrast, virtual bookkeepers working from home have an estimated total pay of $59,856 per year, with an average salary of $55,857 per year. This estimate includes additional pay, which can amount to around $3,999. 

While these numbers look good, the results are different for beginners. Some start their average salary at $7 per hour and slog their way to the top until their portfolios look good enough for bigger clients. However, keep in mind that competition for bookkeeping has become tighter after many people discovered that this business model makes more money than legal services.

Is a Bookkeeping Business Worth It in 2024?

A bookkeeping business is worth it in 2024 if being a bookkeeper is your ultimate dream job and not just a side hustle. Offering exceptional service to existing clients can lead to word-of-mouth marketing to higher-paying clients. However, you will have a hard time finding one because of the tight competition. Networking with professionals and joining bookkeeping forums can provide valuable insights and client referrals.

To expand a bookkeeping business, showcase your accounting expertise and achievements and client feedback on platforms like LinkedIn and Upwork, and by participating in local business events and offering educational sessions.

Bookkeeping challenges include tight deadlines, the need for accurate financial record-keeping, managing multiple clients, and staying updated with tax laws. Effective time management and ongoing bookkeeping education can alleviate some of this stress.

Disadvantages in bookkeeping involve the risk of human error, the demanding nature of keeping up with financial regulations, and the monotony of tasks. The emergence of AI poses a threat to basic bookkeeping roles but may also increase competition by making the field more accessible.

For beginners, bookkeeping is challenging due to the complexity of financial principles and software. However, through committed learning and starting with simple tasks, beginners can progressively enhance their skills and overcome these challenges.

Create Passive Income With Local Lead Generation

Local lead generation is a business model where you create websites or digital assets that generate potential customer leads for local businesses. This model can offer sustainable passive income as once your digital business is set up and ranked on search engines, it can continuously attract leads with minimal ongoing effort.

Starting a local lead generation business can be less complex than starting a bookkeeping business, as it requires knowledge of digital marketing and SEO, rather than technical accounting skills.

Profit margins in local lead generation can be high since the operational costs are relatively low after the initial setup. You can sell the leads to local businesses. In contrast, bookkeeping businesses may have narrower profit margins because of the ongoing costs of subscriptions and continuous education.

Scalability is another factor where local lead generation shines. You can replicate your successful model across multiple niches and geographical areas with relative ease. Bookkeeping businesses can also scale, but this often involves taking on more clients.

While both business models are great, local lead generation may offer a simpler start, potentially better profits, and greater scalability compared to a bookkeeping business, making it an attractive option for those looking to build sustainable passive income.