Accounting once again leads the way as the most profitable industry. Great news, right? Absolutely. However, while it is the most profitable industry it is also the one at greatest risk of being automated, and accountants are regularly identified as a “low value” in client perception surveys. So accounting professionals need to think outside the box and look at more ways to create revenue as well as value for their clients. The Intuit Reseller Program is one way you can quickly and easily add recurring revenue to your firm portfolio.
Before we proceed, let me be clear – I do not work for Intuit or have any affiliation with them. However, I consult with accounting firms daily and see untapped potential here that I think many can use to create new revenue sources.
Considering that QuickBooks is the #1 accounting software in the US for small to medium sized business owners, it is a no-brainer that your clients purchase the software as well as many of the add-on options like payroll or merchant services. In fact, most accounting firms tell their clients how to purchase the product and may put it under their ProAdvisor license, but very few take full advantage of the real earning opportunity.
When looking into the QuickBooks IRP (Independent Reseller Program) we first discover that there are two tiers. The first tier is the reseller program, which allows you to resell QuickBooks and other Intuit products for a commission. This is the tier most companies will fall into. Then we have the Premier program where you and your company can venture out into new markets not yet tapped by QuickBooks and really start influencing users as well as create your own distribution network.
I have seen firms create over $10k a month in recurring revenue through the IRP commissions. That is $120k a year in additional revenue with no new services or time being allocated.
Below you’ll find an overview of the official program, but in a nutshell this is how you can easily adopt the reseller model into your firm:
- Your firm vets software companies and identifies the top tier programs that you want to recommend to clients. (Think outside the box here, not just online or desktop accounting software but all of the pieces that go into a client’s technology infrastructure. This could vary based on specific niches that you service.)
- Learn about their partner, referral, and reseller programs.
- The client identifies software need or pain points, you make recommendations and educate.
- You enroll the client under your own account ID and some companies will bill the client directly and then send you a commission. Other programs will require you to be more of a VAR (Value Added Reseller) that pays directly and then receives bulk discounts.
- You support your client and connect them with technical support by the vendor if needed.
- You collect commissions.
Intuit Reseller Program
The QuickBooks Authorized Reseller Program has a lot of benefits for companies to get started. These benefits include but are not limited to:
- Personalized credit limits and payment terms
- Leasing and other financing options
- Immediate access to Intuit products and a variety of peripherals
- Sales, procurement, and Intuit product support through a highly-qualified staff
- Extended hours of support
- Expanding your business and opening up new opportunities
- Additional revenue for your company through commissions, referrals, and discounts on products you are already using in your company
The Premier Partner program includes everything above plus provides the following additional features and benefits:
- Opportunities to sell a number of Intuit products and services that meet the needs of customers – and open the door for complementary product sales and professional services
- Certifications and knowledge/support services to increase your value-add to your customers
- Sales leads and referrals based on geographic coverage and quality of services
To get started with either of these QuickBooks programs you will first need to go through the application process. The application is just the starting point to see where you and your company fit into the QuickBooks family.
Once you have your account set up, you will then need to contact your sales rep for the application. They will then assist you in filling out the information and getting you started selling QuickBooks.
If your firm is a QuickBooks shop, selling their product line or getting credit for your clients’ purchases is a great initiative to investigate further. It’s easy to get started and provides a wide range of benefits that could create a recurring monthly revenue with very little effort.