Maybe you already have a good accountant.
Great. A good accountant can save you a lot of money. But a good CFO can help make you even more money.
You’re probably like some of our clients. You signed on with an accountant. You liked them best out of the choices you had. They probably even came recommended from friends or family or a colleague.
You thought your new accountant was going to give you advice on what you could be doing better in your business. How to increase your profits. How to make better decisions on buying equipment, setting pricing, hiring employees. Someone on your team who was going to tell you how to take your business to the next level.
But after you started working with them, your expectations didn’t match the reality. They weren’t as involved as you thought they’d be. The relationship seemed more transactional than you hoped. It seemed like they are only interested in filing your taxes and collecting their check.
Maybe their advice is slim to none (beyond the obvious reduce costs, sell more). Maybe their advice is solid, but they are so slow to respond you end up Googling your questions in the middle of the night after everybody in your house is asleep.
It was a similar story for our other sign and large format printing clients.
The signage industry comes with unique challenges that most small businesses don’t have to face.
- Costing and pricing are much harder to calculate accurately, so it's easy to print 100 sheets of coro a day and still lose money on each sheet.
- Every sale is a custom order, so pre-production time (site surveys, selling, design, engineering) can vary wildly from one order to the next.
- Start-up and equipment costs are at an all-time low, so basically anybody can buy a latex printer, call themselves a sign maker, and start undercutting the local market.
- Customer loyalty is fickle, so they haggle over price, ask for sponsorship, or try to price-match all your profit away. Ever heard of a plumber accepting "exposure" as payment?
- And many more...
Few other accountants are familiar enough with these challenges to provide you with real guidance.
Need proof? Call your current accountant and ask them about your "shop overhead rate" and how to build your pricing model with it.
Below, we've included a few of the challenges that sign shop owners – just like you – told us they face. Have you ever had any thoughts or feelings like these?
"I’d like to feel like I’m running the company, instead of it running me."
"We’re always busy, and our P&L shows we made a decent profit last year. But are we really making any money?"
"There’s no real advice (from our accountant) until the end of the year. Which of course, by then it’s too late to do anything."
"We’ve had to file extensions on our taxes late in the year for no good reason."
"I’ve fallen way behind and our books are a raging mess."
"Our contacts at our accountants are not real personable sometimes, but really what do you expect from an accounting firm?"
"Our accountant is only interested in the high level items. Total Sales vs Costs. I want to know on a project basis - are we profitable or not?"
"Our actual accountant is great, but I often work with the rest of his team. They are careless at times. Just guessing at stuff if they don’t know."
"I like working with our accountant, but they don’t know all the nuances of our industry. And they don’t seem real interested in learning either."
If any of these comments ring a bell for you, then please book a free discovery call with us.
We'll listen to your current situation and provide our best advice – free of charge. We don't like hard sells or sales reps that hound us, so we'll never do that to you.
Founder and CPA at Print CFO