Fitbooks

What Fitbooks does

Fitbooks is a privately held, fully virtual bookkeeping, accounting, tax, payroll, and fractional CFO services firm headquartered in Stillwater, Minnesota (118 Main Street S, Suite 3). Founded in 1994, the firm primarily serves service-based SMBs with a stated specialty in the health-and-wellness vertical (fitness centers, wellness clinics, health clubs, franchise operators) and secondary coverage of restaurants, retail, and real estate investors. The team comprises roughly 21 named professionals—CPAs, CFOs, Controllers, accountants, and a Fitness Advisor—delivering services remotely via Zoom, Google Meet, and Microsoft Teams through a secure client portal.

Fitbooks' core offering spans Virtual Bookkeeping Solutions, Accounting Excellence, fractional CFO Services, Business and Personal Tax Solutions, and Advisory Services, packaged into tiered subscription bundles (Business Essentials, Vitality, Peak for commercial clients; Personal Essential, Vitality, Peak for individual tax). The technology stack is integration-led rather than proprietary: Fitbooks supports clients' existing QuickBooks Online/Desktop/Enterprise, NetSuite, Bill.com, and Expensify environments, augmented by a proprietary 30-day onboarding process and paperless document exchange. In 2023 the firm acquired Perpetual Resources, integrating 30+ years of additional tax and business consulting expertise into the team and broadening service capacity.

The commercial model is sales-led with subscription-billed recurring revenue and customized pricing per client (monthly, quarterly, or annual cadence). Customer acquisition flows through website contact forms, complimentary phone consultations, a content-marketing blog, social media, and referral; named customers include Njoy Health (eight Anytime Fitness franchises, $4M+ annual revenue, 40+ employees, served since 2007), Bellwether, Oak Springs Chiropractic & Wellness, The Lumberjack, and Mad Capper. The firm holds no external institutional investors, no public listing, and reports 173+ five-star Google Reviews as a credibility signal; co-founders Nathan Jespersen (Chief Strategic Officer) and Jennifer Hochradel (Accounts Director) remain active in operations, supported by a CRO and Marketing Director added in 2023.

Name

Fitbooks

Legal name

FitBooks Inc.

Website

https://myfitbooks.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

Fitbooks is a privately held, fully virtual bookkeeping, accounting, tax, payroll, and fractional CFO services firm that primarily serves health-and-wellness SMBs alongside restaurants, retail, and real estate investors via tiered subscription packages and remote delivery.

Ownership category

akta.pro rank

Product category

Professional Bookkeeping & Accounting Services

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (5412)

akta.pro primary industry

Accounting & Bookkeeping Services (BPAHABAC)

Keywords

• Outsourced bookkeeping services
• Fractional CFO services
• Accounting tax preparation
• Payroll management services
• Financial advisory consulting

Headquarters

HQ city

Stillwater

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Outsourced Accounting Services: Comprehensive outsourced accounting solution with dedicated controller and team. Services include monthly reconciliations, revenue recognition, AR/AP processing, employee reimbursements, inventory reconciliation, payroll support, P&L and balance sheet reporting, cash flow statement and forecast, and handling of multiple entities and consolidation.
2. Tax Preparation and Filing: Business tax and personal tax preparation services with packages ranging from Essential to Peak tiers.
3. CFO Services: Fractional CFO advisory services including board reports, cash flow projections, financial projections and models, business analytics and KPIs, strategic finance consulting, exit planning, budgeting, capital raises, venture debt financing, and equity management.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Fitbooks provides outsourced virtual bookkeeping, full-service accounting, business and personal tax planning and filing, payroll administration, advisory, and fractional CFO services to service-based businesses. It specializes in the health and wellness vertical (fitness franchises, gyms, wellness clinics) and also serves restaurants, retail, and real estate investors. Services are delivered through tiered subscription packages (Business Essentials/Vitality/Peak; Personal Essential/Vitality/Peak) and integrated with clients' existing QuickBooks or NetSuite environments.

Product overview

Fitbooks is a professional bookkeeping and accounting services company offering a comprehensive suite of financial services. The core offering includes Virtual Bookkeeping Solutions, Accounting Excellence, CFO Services (fractional CFO advisory), Business Tax Solutions, Personal Tax Solutions, and Advisory Services. The company provides tiered pricing packages for both business and personal services: Business Essentials, Vitality, and Peak packages for business clients; and Essential, Vitality, and Peak packages for personal tax clients. In 2023, Fitbooks acquired Perpetual Resources, expanding their capabilities with over 30 years of additional tax and business consulting expertise.

Differentiator

Problem solved

Functional benefit

Products and services

• Virtual Bookkeeping Solutions Online bookkeeping services for service-based businesses covering accounts receivable and accounts payable management, expense tracking, invoice generation, payroll handling, account organization, financial statement reconciliation, and timely reporting and analysis.
• Accounting Excellence Tailored outsourced accounting services delivering financial clarity for audits and fundraising, operational efficiency through accounting software, and compliance support for service-based businesses.
• CFO Services Fractional CFO services providing strategic financial leadership, due diligence, investor relations, profitability enhancement, and operational consulting for businesses. Includes board reports, cash flow projections, financial modeling, KPIs, exit planning, budgeting, capital raises, venture debt financing, and equity management.
• Business Tax Solutions Business tax planning, preparation, and filing services with cohesive collaboration between tax preparer and accountant, forward-thinking tax strategies, and precision assurance. Includes 1099 filing, sales tax filing and calculations, and year-end tax preparation.
• Personal Tax Solutions Personal tax planning and filing with an individualized approach, forward-thinking strategies, user-friendly questionnaire, and security assurance through encryption and authentication. Includes 1040 and state returns, advisory meetings, estimated tax payments, and Schedule C/E preparation.
• Advisory Service Strategic business consulting covering cost reduction, revenue enhancement, and streamlined operations with industry-specific insights and tailored solutions. Includes dedicated account manager and monthly business reviews for Vitality/Pack packages.
• Business Tiered Subscription Packages (Essentials / Vitality / Peak) Tiered subscription service packages for business clients combining bookkeeping, accounting, payroll, tax, and advisory features at increasing levels of depth: Essentials (monthly reconcile and reporting, payroll uploads, cloud software, monthly P&L and balance sheet); Vitality (adds dedicated account manager, monthly business reviews, sales tax filing, AR/AP management, 1099 filing, year-end tax prep); Peak (adds weekly business reviews, cash flow reporting, paperless document storage, annual business plan/budget, unlimited email and phone support).
• Personal Tax Subscription Packages (Essential / Vitality / Peak) Annual tiered personal tax packages: Essential (1040 and state return with up to 1 advisory meeting, for standard filers); Vitality (Essential plus up to 3 advisory meetings, estimated tax payments, and Schedule C/E preparation, for 1099 contractors, LLC owners, sole proprietors, and real estate investors); Peak (Vitality plus email/phone support, bi-monthly meetings, accounting software set-up, customized to needs, for small businesses or individuals with complex needs).

Quantifiable outcome

• Njoy Health grew from $300K to over $4M in annual revenues and from 1 to 40+ employees since partnering with Fitbooks in 2007
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature3 records

Partnerships

One partnership is on record.

• Perpetual ResourcescoreStrategic or Co-development Partner · 1 January 2023In 2023, Jen and Nathan Jespersen strategically acquired Perpetual Resources, a company with over 30 years of specialized experience supporting business owners and expertise in tax services. Dan and the Perpetual Resources team were integrated into Fitbooks, significantly expanding the company's capabilities and marking a pivotal chapter in Fitbooks' growth story.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bench: Bench offers online bookkeeping paired with dedicated bookkeepers and financial statements for small businesses. It competes head-to-head with Fitbooks in subscription-based outsourced bookkeeping for SMBs.
• Bookkeeper360: Bookkeeper360 delivers cloud-based bookkeeping, accounting, payroll, and CFO advisory services for SMBs. Highly comparable service portfolio and customer segment to Fitbooks.
• Botkeeper: Botkeeper combines AI/software with human accountants to deliver automated bookkeeping for SMBs. Directly comparable in outsourced bookkeeping service model though more tech-centric.
• TGG Accounting: TGG Accounting provides bookkeeping, tax, and consulting services for small businesses, often specializing by industry. Directly comparable to Fitbooks' SMB-focused outsourced accounting offering.
• CFO Share: CFO Share delivers fractional CFO and outsourced accounting services to small and mid-sized businesses. Comparable in CFO advisory layer that Fitbooks also offers.
• inDinero: inDinero provides outsourced bookkeeping, accounting, tax, and fractional CFO services to growth-stage SMBs. Directly comparable service offerings to Fitbooks' full stack from bookkeeping through CFO advisory.
• Beech Valley Solutions: Beech Valley connects SMBs with fractional CFOs and senior accountants on a flexible basis. Comparable to Fitbooks' fractional CFO advisory service line.
• 1-800Accountant: 1-800Accountant provides virtual accounting, bookkeeping, tax preparation, and payroll services for small businesses and individuals. Directly comparable to Fitbooks' service mix and SMB target customer.
• Pilot: Pilot provides outsourced bookkeeping, accounting, and tax services for startups and SMBs via a tech-enabled delivery model. It is the most direct peer to Fitbooks in offering subscription-based bookkeeping and accounting services to small businesses.

Broad incumbents

• KPMG Spark: KPMG Spark is the SMB-focused bookkeeping arm of Big Four firm KPMG, offering cloud-based bookkeeping and tax services. Comparable in offering type though operating with far greater scale and brand recognition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fitbooks