BUILDING FINANCIAL MODELS FOR FORECASTING AND MEASUREMENT
Since 2002, this Boston-based bakery has been crafting all-natural dog treats from scratch for numerous four-legged friends. What started as a means of nourishing one couple’s adopted stray soon turned into a $7M+ business with over 10 divisions. Over the last two decades, the company has expanded to multiple locations throughout Massachusetts, in addition to selling their treats through various retailers across the U.S. However, as demand continued to increase (and the founders refused to sacrifice the product’s quality), management was forced to make abrupt decisions impacting the business’ various accounting systems, ultimately limiting growth and visibility.
To revamp this bakery’s accounting structure and tracking procedures, Company Launch Partners designed a comprehensive excel-based tool that provides for budgeting and forecasting in each of their divisions. The company’s financial data was spread across multiple systems, challenging our experts to devise a concise, efficient process for merging the information. Almost instantly, the heightened insight resulted in more astute budget management, particularly in regards to future spending. CLP updates this model each month with the latest numeric results, as well as adjusts the forecast for upcoming months to reflect the revised data.
With our customized tool now fully implemented, the entire nature of our monthly meetings has changed. Superfluous spending is no longer an issue, as the company’s budget is now expertly tracked and allocated to maximize profit. Instead, meetings focus on examining vital company concerns and brainstorming strategies to ensure each division hits its sales targets. Strategic growth is an exciting prospect for future development rather than a worry.
Beyond simply providing a tool, our experts transformed this bakery’s accounting procedures, and in doing so, allowed the client’s energy to be refocused on promoting company-wide advancement. Today, the bakery continues its expansion without worry of undue financial burdens.