Insulation wholesaler: from no bookkeeper to monthly reports and known margins
Client: Insulation Wholesaler
A $400K insulation wholesaler who had built his business without a bookkeeper.
- $400K
- in annual revenue, built without a bookkeeper
- Monthly
- reports, where there had been none
- $55,000
- new truck to grow the business
01
Where it started
He had grown a $400K insulation wholesale business on hard work and memory.
There had never been a bookkeeper and there were no set processes. Invoicing and collections had no routine, and there were no monthly reports. He did not know his margins, or how much he was making from one month to the next, so every price he quoted was a guess.
02
What we did
We set up repeatable processes for the money side of the business, starting with invoicing and collections, so the same steps happen the same way every month.
Then we got him monthly reporting: a set of numbers at the end of each month that shows what came in, what went out and what he kept.
03
Where it stands now
He knows his margins now and sets his prices with them.
With monthly reports in hand, he could see exactly where the business stood. He bought a new $55,000 truck to grow it.
Related: bookkeeping and fractional controller.