What are the most profitable niches within Accounting/Financial Services?
August 06, 2024
by a searcher in Marietta, GA, USA
My partners and I are looking to purchase financial services companies. We started looking at accounting firms, but when the current partners exit, there's no transferrable value. We're now looking for other financial services sectors that are on a growth trajectory. We have two accountants on our team, but we're open to financial services where their expertise would be of benefit, but we'd like to fnd a super profitable niche within financial services. Any suggestions?
from Indian Institute of Technology, Madras in Chennai, Tamil Nadu, India
The real value capture is in understanding the process, remove inefficiencies that exist because there is a set of tasks/workflows that seem to need human judgement or oversight that aren't really needed (Every button click in Quickbooks is a human decision and most of them can be codified).
One niche I am very interested in allied healthcare/travel nurse related tax services – simply because of the complexity of the rules to apply and the mistakes can cost the clients a lot. Its squarely in the realm of AI-led augmentation.
If you want to do this together, happy to explore.
from University of Chicago in Seattle, WA, USA