Hey, if the farmers can do it, why can't an Accounting Professional?
Thursday, June 4, 2009
Co-Op Payroll? Huh?
Recently I was playing around on Twitter and posed the following question: "Why don't Accounting firms in regions with a population around 50,000 people who aren't really into payroll as a profit center get together and make something happen?"
Well it was shorter than that on Twitter (140 character limit and all that), but you get the idea. Even if you have no interest in working Payroll into your practice as a profit center, what is there stopping you from getting together with your peers in the neighborhood and doing battle together with ADP & Paychex?
It seems foreign, but most CPA firms who get serious about payroll form a separate company to manage it, and do very well. And this is going solo. A typical client's payroll and the ancillary services that surround it can generate between $1000 and $3000/year. Nothing to shake a stick at.
I would find it very interesting to see a group of smaller firms band together, brothers and sisters in arms - form a partnership, find a high-end payroll manager and take their revenue back from ADP, Paychex, and their cronies.