Success story: CFOSP helps restaurant chain fund growth
On the outside, it appeared that one of Orlando’s growing fast-casual restaurants was nothing but success. The chain was expanding quickly and gaining passionate fans, and the owners were making their dreams a reality.
Internally, however, it was a different story. Financial reporting was inconsistent and unreliable, and without that data, it was impossible to see whether rapid-fire growth could be supported. Worse, uncertainty with tax and regulatory bodies left the company vulnerable.
Ownership turned to CFO Strategic Partners as their outsourced CFO to help right the ship and gain a strategic view on their company.
Once on board, our team tapped into our vast network of accounting, tax, legal and lending resources to find the right partners for this developing enterprise. These resources enabled us and the owners to access timely, accurate and relevant financial information to help fund growth.
We also worked with the management team to help them better understand the financial processes in the company so they could ensure best practices were being followed. Finally, we used the improved financial processes and knowledge to create a budget that both guided decision making and built accountability.
The results speak for themselves. With the increased financial support, partners were accountable and better able to communicate with each other, supporting the strategic vision for the company. They were able to increase revenues by 18 percent year-over-year and budgeted to increase 48 percent in one year.
They opened three new stores, with nine planned for the next year. Best of all, the owners can sleep at night knowing they’re making sound financial decisions and are achieving their entrepreneurial goals.
At CFOSP, that’s what we’re all about—providing the financial vision so middle-market companies can achieve the next level of success. Want to see what we can do for you? Email us at firstname.lastname@example.org or click here to request more information.