Growing a scalable business & doubling turnover – Gary and Clare
- March 03, 2020
Engaging James (Modoras Accounting Director), to help us grow a scalable, successful business that could seamlessly manage the larger distribution network was the best decision we ever made.
Have you ever imagined doubling your turnover and becoming a corporitised independent business, all whilst feeling financially secure? Modoras has helped Gary and Claire do just that.
Gary and Claire are owner operators of Urban Fountains & Furniture. Manufacturing street and park furniture and fountains for both public and private enterprise. Their range includes:
Drinking fountains in public parks and sporting grounds;
Street furniture including bench seats, urban bins, outdoor showers, picnic tables, dog play equipment and balustrading;
A variety of tree gates and foot paths; and
Initially operating as a contractor, filling orders for street and park furniture, Gary and Claire were proud of what they had accomplished during the start-up phase of their business. Although they had envisaging the creation of a stronger future. A larger distribution network that would eventually support their retirement lifestyle.
“Engaging James (Modoras Accounting Director), to help us grow a scalable, successful business that could seamlessly manage the larger distribution network was the best decision we every made.” Claire said. “James helped us with not only the growth of our business, but also the protection of our personal assets and the financial wellbeing of our family.”
James Morris enjoys nothing more than helping his clients achieve more. “What I love most about what I do, is helping my clients create their dreams. Their work ethic and dedication to their businesses is inspiring. It’s a pleasure to help and guide them.” said James.
Business Advisory with Modoras
Gary and Claire have been working with James for 10 years, they expected the usual end of year reports and tax returns. However, Gary and Claire soon realised that the Modoras teams strategic know how and implementation experience went far beyond simply preparing end of year accounts.
Under James’ guidance, Urban Fountains & Furniture moved from being a contractor, whose work came via distribution channels, to an independent operator. During the businesses transformation, James introduced experts to accelerate business growth. From marketing to brand strategists, these experts worked as one to create a significant jump in sales and annual turnover.
For many businesses, a sudden increase in sales can be traumatic and stressful, as other areas of the business struggle to cope with increased workload, there can be cash flow issues and pressure to deliver orders on time. James was able to support Urban Fountains & Furniture through this growth phase, guiding their decisions on where to make adjustments in their business to maximise profit, helping them realise the true value of their products and minimise business inefficiency. This gave Gary and Claire the confidence to make well-informed business decisions, every step of the way. As a result, since 2006, Urban Fountains & Furniture has doubled turnover, increased profits and continues to thrive.
As an expert in looking beyond the reported numbers, James considers every facet of a client’s financial position. Strategically placing together strategies for growth, management and protection of both the business and its owners. Looking beyond accounting compliance to truly find what more is possible for the owners, their business and their family.
“Nothing makes me more proud then supporting my client to achieve the business they envisaged. And sometimes, one they never thought possible.” James said
Claire describes James as a reliable, intelligent and strategic professional who provides viable options, no matter the problem by assessing the situation and understanding their goals.
It’s not always an easy road
As with many businesses during the Global Financial Crisis, Gary and Claire were faced with hefty demands from their bank. Overwhelmed by the devaluing of their business premises and request for a significant amount of capital to bring the loan value ratio back into line, Gary and Claire were reluctant to sell their investment property to meet the obligation. Without James’ advice, Claire doubts they would have been able to keep the assets they had worked so hard for, but the Modoras team devised a clever solution, giving Claire and Gary the cash they needed to pay the bank without losing any of their assets.
Claire says it’s been James’ ability to look at their business and personal finances together that have made him such a valuable partner and adviser to them. She also appreciates his ability to offer several solutions, delivered with the education required to make the most appropriate decision for us. Never delivered with pressure towards one or another.
Plans for the future
As Gary and Claire now start considering retirement, James will use his expertise to suggest options to corporatize their business in preparation for sale.
“Working with James has allowed us to understand the value of our products and excel in our business. The most invaluable thing for us was to feel like all our hard work has put us in a good position. Through understanding that value, we’ve been able to build a financially secure future.” Claire said.
No matter what the future holds, Gary and Claire feel confident that when they turns to James he will give them sound advice and viable options.
And a final word from James. “I love helping businesses grow and thrive. My team and I are dedicated to doing more for our clients, helping every single business we serve to grow further, achieve more and realise what is truly possible.”
Learn more about our business advisory service and how we can help you accelerate growth for your business.
If you think you could use some advice from James or anyone on his team, contact Modoras on 1300 888 803.
IMPORTANT INFORMATION: This blog has been prepared by Modoras Accounting (QLD) Pty. Ltd. ABN 81 601 145 215. The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals’ personal circumstances have been taken into consideration for the preparation of this material. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Accounting (QLD) Pty. Ltd. recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this blog can change without notice. Modoras Accounting (QLD) Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Accounting (QLD) Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Accounting (QLD) Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication. Liability limited by a scheme approved under Professional Standards Legislation.