Specialised accounting: how to find your niche

Accountants are a crucial part of supporting the financial management of individuals and businesses. As an accountant, specialising can help you target the right market and find the best client base for your skill sets. But if you’re unsure where to start with finding your accounting niche, we can help.

This guide will discuss specialised accounting, including:  

• The benefits of having an accounting niche 
• How to find your accounting niche 
• How Coutingup can help with your specialised accounting firm

With specialised accounting, you can focus your practice to fit your ideal client’s needs. Not only can this help you provide the best services to clients, but it also avoids you spreading your business too thin. In addition, targeting a specific market to what you know best allows you to be an expert in your services. 

On top of this, finding a niche helps you stand out from the crowd. People who need your specific services will find you more easily. For example, targeting your accounting firm to single-person businesses will help draw in those clients. These people are more likely to seek someone who understands their needs than an accountant who works with corporations. 

Ultimately, finding a niche will strengthen your accounting practice and make it easier to market your business to the right client base. Your niche can show potential clients that you understand and meet their needs. As a specialised accountant, you’ll offer tailored knowledge that general accountants don’t. You’ll be the person to go to for that specific need. 

Once you know the benefits of specialised accounting, you may wonder how to find your niche. There are a few steps that can lead you to the best options. 

The first step in finding your accounting niche is researching the options and considering the accounting market. To do this, look at other specialised accounting firms to find potential niches and how to market them. Researching will help you know what clients really want from an accountant. 

Look at the industry statistics to find promising niches or markets. You may notice a gap you could fill or a growing demand you could capitalise on.

There are two types of accounting niches you may notice. The industry niche covers the kind of client you primarily work with. For example, you could work primarily with clients in the tech industry, agriculture industry, or those who work freelance. 

The second niche is the area of accounting you focus on. Though you may offer general financial accounting services, specialising will help attract those in need of something unique. This niche could be something like taxes or wealth management. Considering these two sides of your specialisation will help you find a more specific audience. 

Personal skill sets are another thing to consider in specialised accounting. What clients have you worked with in the past, or are you currently working with? If you have a lot of clients in the restaurant industry, for example, this may be something to focus on. 

On top of this, think about your accounting education and what skills are your strongest. If you’re a whizz at filing accurate limited company taxes, that could be a good choice for you.  

Whatever niche you choose, you want to be an expert in that area. If you come across a possible niche, weigh how well equipped you are. Prioritising what you know well and considering where you’d like to grow skills will help you make the most advantageous decision.

On top of your skills, think about who you most enjoy working with or which clients would best benefit your services. By outlining your ideal client persona and target audience, you may find a common denominator that will lead to a great niche. Is there a particular industry you find interesting and a client behaviour you work well with? 

You may also want to consider the current times when picking a niche. There are new industry opportunities or work structures to focus on with the digital age, such as tech startups or digitally based companies. You can also study the market to see what sectors thrive and have strong futures. Choosing a promising niche can lead to more work opportunities and greater earnings.

Once you weigh your options, list your top five niches. A strong niche should be realistic and credible with an available market to go after. Ideally, it will blend well with your current client base and work to boost your profitability. Plus, you should find it exciting.

Research your top five ideas in more depth and find similar specialised accounting. Looking at what others do can help you gain insights into your practice. You can also use a tool like Semrush to find data that assesses the popularity of particular topics or industries. Finally, consider the pros and cons of each option before narrowing the list down to your chosen niche. 

Try to make your chosen niche as specific as possible. Your specialisation can only benefit you if it’s clear on your accounting website and overall business marketing. Then, when introducing yourself to potential customers, make your niche the focal point. The more transparent your niche is to potential customers, the easier it will be to attract the right people. 

Once you find your accounting niche and grow your customer base, you can save your practice time on manual admin and help your clients keep organised records with Countingup’s free accounting software. It’s built specifically to help you manage your self-employed and sole trader clients.

The app automates time-consuming bookkeeping admin for your clients so they can focus on running their business—and send you accurate, structured data to work from. 

Countingup’s accounting software is MTD-compatible and full of features for you to efficiently review and manage client accounts with direct access to their real-time organised data. Find out more here.